Save money on healthcare and dependent care
Your Flexible Spending Accounts can save you money on everyday expenses. Your contributions to these accounts are tax-free, saving you money on federal and state income taxes and Social Security taxes.
This benefit is provided through McGriff Insurance Services.
Health Care FSA
A Health Care FSA can save you money on healthcare, prescription drug, dental, or vision expenses. The FSA includes other important features: You can contribute up to $2,700 a year.
You may access your funds by using the FSA debit card, completing an online form, submitting a paper claim form or a combination of these methods. *You must retain your receipts for all claims.
Dependent Care FSA
A Dependent Care FSA can save you money on dependent care expenses you pay while you’re at work. These include day care and summer camps for children under age 13 and care for an elderly parent. You can contribute up to $5,000 a year as a married couple filing income taxes jointly or $2,500 if you’re single or married and file separate income tax returns.
Plan carefully! All of the money left in either FSA at the end of the year is not returned to you – up to $500 of the medical flexible spending account will roll over to be used the following year. Please review the plan documents for more details on the maximum contributions you can make toward the healthcare and/or dependent care Flexible Spending Account.
Participating in the Flexible Spending Account (FSA) available through your Employer can increase your take-home pay by reducing your taxable income.It allows you to potentially save up to 30% on your eligible healthcare and/or dependent care expenses every year by using pre-tax dollars vs. post-tax dollars to pay for those expenses.
We recommend prior to making an election, you consider and derive a conservative estimate of how much you spend on healthcare and/or dependent care expenses for you and your qualified dependents in one year. For example, you may want to consider your estimated cost for prescription drugs, medical and dental office visit co-pays and/or deductibles, as well as vision related needs including exams and prescription glasses/lenses.
McGriff Website :http://www.mcgriffinsurance.com/flex
Telephone #: 1-800-768-4873 Monday through Friday 8:00am to 8:00pm
Fax: 1-252-283-9048
Plan Documents
- FSA 2020 Information
- FSA Education Brochure
- FSA Eligible and Ineligible Expenses
- FSA Card Substantiation