MMFS Employee Benefits Guide 2022

F.S.A BENEFITS

FLEXIBLE SPENDING ACCOUNT (FSA)

The Flexible Spending Account allows employees to set aside up to $2,750 a year towards qualified medical, dental or vision expenses including deductibles, copays and coinsurance that are not covered through your health insurance plan. Your Health Care FSA is a great way to save money while keeping you and your family healthy. You may use tax-free funds to pay for out-of-pocket medical, dental, and vision care expenses as outlined below. Limited Purpose FSA If you enroll in the High Deductible Health with HSA Plan, you can also enroll in a “limited FSA” plan. This FSA plan is limited to dental and vision services only. Employees can set aside up to $2,750 in a pre- tax account to pay for qualified expenses. Dependent Care FSA A Dependent Care Account enables working parents to pay the cost of child or elder care services using pre-tax dollars. You may use the Dependent Care FSA for reimbursement of the cost of dependent care, while you and your spouse are at work. Employees can set aside up to $5,000 in a pre-tax account to pay for qualified expenses. *** A temporary COVID provision has been added to our plan allowing employees to enroll up to $10,500 for Calendar Year 2021. *** Anyone that wants to establish a FSA should plan carefully. Up to $500 will rollover from year-to-year, but the IRS requires that individuals forfeit any remaining funds left in their FSA. Think about all the possible medical and dental expenses that you may incur during the year. The FSA 2021-22 plan year runs from September 1, 2021 through August 31, 2022. *** Due to recent legislative changes Consolidated Appropriations Act 2021, in response to the challenges of the past year caused by the pandemic, Mary McDowell Friends School has the option to allow participants to roll over all unused balances in health and dependent care flexible spending accounts (FSAs and DCAs) from 2020 to 2021. *** PLAN CAREFULLY

Enrollments can be made via Plansource . To manage your current account(s), submit claims, or review balances, please login to WageWorks .

QUESTIONS? Call BenefitsVIP at 866.286.5354