Flexible Spending Account (FSA) Starting January 1, 2023 – the Flexible Spending Account (FSA) will be offered through Fidelity. Once you have completed 2 years of service at 1,000 hours per year, Mitchell Martin provides you the opportunity to pay for out-of-pocket medical, dental, vision and dependent care expenses with pre-tax dollars through a Flexible Spending Account (FSA). This is how an FSA works: › You set aside money for your FSA from your paycheck before taxes are taken out. › Then use your pre-tax FSA funds throughout the plan year to pay for eligible health care or dependent care expenses. › The maximum you can contribute to the Health Care FSA is set by IRS regulations. The maximum contribution limit for the Heath Care FSA in 2023 is $3,050. › Your full annual election of the Health Care FSA is available to you on the first day of the plan year. › The maximum contribution limit for the Dependent Care FSA in 2023 is $5,000 for single or married subscribers. Please note: if you are married but filing your taxes separately, your contribution limit is $2,500. › You can only spend Dependent Care FSA dollars as you accrue them in your account. › Please note: Once you determine what your pre-tax elections will be for the Health Care and Dependent Care contributions, you cannot change those elections unless you have a qualifying event. Without a qualifying event, you will have to wait until the next enrollment period to make changes to your contribution amounts. › At the end of the year, you may rollover all unused funds to the next plan year for your Health Care FSA & your Dependent Care FSA. Make sure to calculate your medical and dependent care expenses accurately. All st services must be done by December 31 of each year. Commuter Benefits – Parking & Transit ABC Company offers a commuter benefit program for parking and transportation provided by WageWorks. You may contribute up to $300 per month pre-tax. Funds are loaded on to a debit card for use for your parking and transit expenses. For your transit account, you may schedule recurring orders through WageWorks and they will mail you a monthly transit pass. For parking, you may schedule recurring orders through WageWorks for reimbursement for out-of- pocket expenses. 8