2023 | VEO Employee Benefit Guide

Do you want to reduce your out-of-pocket costs and lower your taxable income at the same time? The FSA is a special savings account that enables you to lower the after-tax cost of your out-of-pocket expenditures by setting aside money from your paycheck in one or both of these accounts, before taxes are calculated. The money can then be used to reimburse yourself for certain eligible expenses. You can set aside any amount up to $3,050 in your Health Care FSA and $5,000 in your Dependent Care FSA.

VEO is offering two different types of Flexible Spending Accounts (FSAs):

• Health Care FSA – Can be used to reimburse yourself for medical, dental and vision expenses incurred by you and your dependents. Expenses that are eligible for reimbursement include annual deductibles and co-pays. For a list of eligible expenses please visit ParticipantServices@BenefitResource.com • Dependent Care FSA – Can be used to reimburse yourself for child or other dependent care expenses that are necessary for you and your spouse/partner to work • Note: out-of-pocket health care (medical) expenses are not reimbursable from a Dependent Care FSA, you must open a Health Care FSA for those expenses.

For more information, you can contact Benefit Resource Inc. at 800.473.9595 or visit their website at BenefitResource.com.

ACCOUNT TYPE

EXAMPLES OF ELIGIBLE EXPENSES

CONTRIBUTION LIMITS

ACCESS TO FUNDS

PRE TAX BENEFIT

HealthCare FSA

Minimum contribution: $100 per year

Allows immediate access to the entire contribution amount from the 1st day of the benefit year, before all scheduled contributions have been made

Save 20% - 40% on your health care expenses

• Medical Plan Deductibles • Insurance Co-payments • Prescription Drugs • Vision Exams/Eyeglasses/Contacts • Laser Eye Surgery • Acupuncture • Weight Loss Programs • Dental and Orthodontia (Braces) • Birth Control Pills / Devices / Procedures • Chiropractic • Daycare • Day Camp • Eldercare • Before and After School Care

Maximum contribution: $3,050 per year

Save on purchases not covered by insurance

Reduce your taxable income resulting in more money in your pocket

Dependent Care FSA

Minimum contribution: $100 per year

You will be able to submit claims up to your year-to-date accumulated amount in your account. (You will only be reimbursed based

Save 20% - 40% on your dependent care expenses

Maximum contribution: $5,000 per year ($2,500 if married and file separate tax returns)

Reduce your taxable income resulting in more money in your pocket

on your accumulated contribution amounts)

For additional information, please refer to your detailed plan summary. In the event of a discrepancy, the carrier Plan Document shall prevail.