Flexible Spending Accounts (FSA)

Flexible spending accounts (FSA) allow employees to set aside pre-tax deductions to help pay medical and/or child care expenses. It works like an interest-free, tax-free loan, and there are two types. New hires must enroll within 30 days of hire.

Medical/Dental: Once enrolled, medical/dental participants receive a “benny” card pre-loaded with the entire plan year Medical/Dental election dollar amount. The money is available on the first day of the plan year, July 1, and is repaid through payroll deductions from July 1–June 30.

Dependent Care: Once enrolled, the election amount is divided and deducted from the employees biweekly pay periods from July 1-June 30. Payroll deductions can be reimbursed automatically or as requested by the participant by submitting this form to CPA.

Re-enrollment & Rollover Funds: These benefits require re-enrollment annually during Open Enrollment. You must re-enroll in flex spending to take advantage of funds eligible for rollover. For plan year ending 06/30/2023 you can rollover up to $570 of your medical/dental election.

New Limits July 1, 2023: election limit for Medical/Dental is $3,050 with a rollover up to $610. 

Log in to your Cafeteria Plan Advisors account to check your balance.