Benefit Guide - People

FLEXIBLE SPENDING ACCOUNT

Through a Section 125 Plan, Hunter Strategy offers eligible employees the opportunity to open a Flexible Spending Account(s) (FSAs).

WHAT IS AN FLEXIBLE SPENDING ACCOUNT (FSA)? An FSA is a tax - free account, in your name, that pays or reimburses you for qualified health care or dependent care expenses. Your FSA contributions are made pretax (no employment or federal income taxes are deducted) through payroll deductions. When you receive a distribution from your FSA, the reimbursements are tax - free. Eligible expenses must be incurred from January 1, 2024 through December 31, 2024. 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 all three 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 $3,200 in your Health Care FSA, Limited Purpose FSA and $5,000 in your Dependent Care FSA . Hunter Strategy is offering three 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. • Limited Purpose FSA - The maximum annual contribution is $3,200 . A Limited Purpose Flexible Spending Account (LPFSA) allows you to purchase eligible out - of - pocket dental, vision and/or preventive care expenses with pre - tax dollars. You save money because you don ’ t pay taxes on the money you set aside. Must be enrolled for HDHP HSA Plan. • 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. Participants in Dependent Care and Health Care FSA must utilize all available funds by March 15th and file all claims for calendar year 2024 by March 31, 2025.

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; chiropractic • Weight Loss Programs • Dental and Orthodontia (Braces) • Birth Control Pills / Devices / Procedures • Dental and orthodontia • Vision Exams/Eyeglasses/Contacts • Laser Eye Surgery • Daycare • Day Camp • Eldercare • Before and After School Care Only Dental and Vision Expenses are eligible for reimbursement

Available only to employees who choose the Open Access Plus Plan.

Maximum contribution: $3,200 per year

Save on purchases not covered by insurance

Reduce your taxable income resulting in more money in your pocket

Limited Purpose 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 You will be able to submit claims up to your year-to-date accumulated amount in your account. (You will only be reimbursed based on your accumulated contribution amounts)

Save 20% - 40% on your dental and vision expenses

Available only to employees who choose the HSA Base and HSA Buy-Up Plan

Maximum contribution: $3,200 per year

Reduce your taxable income resulting in more money in your pocket

Dependent Care FSA

Minimum contribution: $100 per year

Save 20% - 40% on your dependent care expenses

Available to all employees who have eligible dependents regardless of your medical plan

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

Employees may be required to provide substantiation to complete the processing of your claim and are responsible to check their balances.

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

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