2023 Benefits Guide Flexible Spending Account (FSA) Flexible Spending Accounts (FSA) allow you to set money Dependent Care FSA aside for certain eligible expenses and draw from it Available to all benefit eligible employees throughout the year to pay for those expenses. If you are Dependent Care FSAs are used to pay for the costs of currently enrolled in an FSA and want to continue, you dependent care that enable you to work. This care may be must re-enroll each year. The money is set aside pre-tax, for a child under age 13 and for older dependents, reducing your taxable income. Three types of FSAs are including children, spouses and parents who are physically available: or mentally unable to care for themselves and who live • Health Care with you for more than half the year. Eligible expenses • Limited Purpose Health Care–HSA plan participants only include daycare, before-school and after-school care, babysitters and elder daycare. For the 2023 calendar year, • Dependent Care you can deposit up to $2,500 to a Dependent Care FSA Money cannot be transferred between the accounts (i.e., ($5,000 if you are married and filing separately). you cannot use money from your Health Care FSA to pay for How the FSA Works dependent care expenses and vice versa). Health Care FSA As a new hire (and again during Open Enrollment), you select the amount of money you wish to deposit into the Not available to HSA plan participants Health Care (or Limited Purpose Health Care) and/or the This FSA allows you to submit eligible medical, dental and Dependent Care Account for the entire plan year. The vision expenses for reimbursement. You can deposit up to plan year for the FSA benefit is January 1 to December $3,050 to the Health Care FSA for the 2023 calendar year. 31. The total amount is then equally divided by the number of pay periods remaining in that year and that Limited Purpose Health Care FSA amount is deducted from each paycheck. The money is set aside in your FSA account(s). Available to HSA plan participants only The easiest way to use your funds is by using your Flex Using this account in conjunction with the HSA gives you Facts debit card at the point of service. The cardcan be the opportunity to save additional pre-tax money. You can used at any medical or dependent care facility that use the Limited Purpose Health Care FSA for eligible dental accepts MasterCard. You can also use your card at most and vision expenses only. You can contribute up to $3,050 pharmacies. When you use your card, the funds are for the 2023 calendar year in this account. automatically deducted from your account to pay for Health Care FSA Roll Over eligible expenses. Please note that you should retain all your receipts. The IRS requires that we request copies of If you enroll in a Health Care FSA, you have the option to receipts for certain claims. If you are required to send in carry forward up to $610 to the following plan year. These receipts an e-mail or letter will be sent to you the business funds will not count against your future FSA election plan day after you use yourcard. contribution limit. Any unused balances in excess of $610 The FSA plans are administered by BRMS. To register and at the end of 2023 will be forfeited. log into your FSA account(s), go to www.brms.com. 17 WestCare