A Medical Flexible Spending Account (FSA) can be used for co-payments, deductibles, certain medications, and other health care costs, while a Dependent Care FSA covers qualified expenses for dependent or elder care. Utilizing an FSA can help reduce your taxes. What is a Medical FSA? A Medical Flexible Spending Account (FSA) allows you to set aside pre-tax money to pay for … [Read more...] about Benefit Spotlight- Flexible Spending Accounts
Don’t lose your funds! 2 ½ Month Grace Period The Flexible spending plan (FSA) plan, also known as the Cafeteria plan, includes a provision that will allow you to continue to incur health care and dependent day care expenses for 2 ½ months after the end of the plan year! Reimbursements will be made to you within three business days following receipt of a complete claim. … [Read more...] about Have you used your 2023 Flex spending dollars?
Launched 1/1/2022, ASIFlex will offer a convenient Recurring Direct Pay program for dependent care provider payaments. Recurring Direct Pay participants will no longer need to submit a claim for every payment. This is a free service with a one-time initial set up between the participant, their provider, and ASIFlex. After completion, ASIFlex will pay the participant’s … [Read more...] about Exciting news for employees participating in Dependent Care FSA.