VOXX 2024 OE Guide - FINAL

Health Care FSA

Minimum contribution is $100 per year

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

Save 20% - 40% on average on your health care expenses Save on purchases not covered by insurance Reduce your taxable income

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Medical Plan Deductibles

Most Insurance Copayments

Prescription Drugs

Maximum contribution is up to $3,200

Some OTC Medicines

Vision Exams/Eyeglasses/ Contacts

Laser Eye Surgery

Dental and Orthodontia (Braces)

Contraceptives

Limited Purpose FSA (for those who participate in HDHP)

Minimum contribution is $100 per year

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

Reduce your taxable income Save on dental and vision purchases not covered by insurance; can be used towards medical expenses once deductible has been met Save 20% - 40% on average on your dependent care expenses

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For employees enrolled in an HSA plan Can be used for dental and vision expenses ONLY

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Maximum contribution is up to $3,200

Dependent Care FSA

Minimum contribution is $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 on your accumulated contribution amounts

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Daycare

Day Camp

Eldercare

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

Before and After School Care

Reduce your taxable income

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