Flexible Spending Accounts (FSA)

Health Care FSA

A Flexible Spending Account is a special account you put money into that you use to pay for certain out-of-pocket health care costs. You don’t pay taxes on this money. This means you’ll save an amount equal to the taxes you would have paid on the money you set aside.

Dependent Care FSA 

You can set aside money to pay for dependent care expenses so long as you (and your spouse) work or attend school full-time. Eligible expenses, as determined by the IRS, are paid to qualified providers for the care of children under the age of 13 or other dependents not capable of self-care. (These dependents must be claimed on your federal income tax return.)

Contact Information

Provider: Flores & Associates

Website: http://www.flores247.com

Phone: 800-532-3327

Eligibility: All Full-Time Employees (>30 Hours)

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Plan  Differences

Health CareDependent Care
Minimum Annual Savings$100$100
Maximum Annual Savings$2,650$5,000
Rollover Option (if you don't spend all of your savings)Yes, up to $500No
Flores Card (credit card to pay for qualified expenses)YesNo
Can you change or enroll any time of the yearNot Without a Qualifying EventNot Without a Qualifying Event
Pre-Tax SavingsYesYes
Annual Amount available on the first of the yearYesNo, is reimbursement only

What’s a medical FSA?

What’s Dependent Care FSA?

What’s an FSA Debit Card?

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