About Flexible Spending Accounts
Flexible Spending Accounts utilize the provisions in the Tax Reform Act of 1986 to allow you to pay for certain expenses with before-tax dollars. By paying for these expenses before taxes, your spendable income will increase.
There following Flexible Spending Accounts are available to your group:
Please be sure to review your Summary Plan Description to see which plans are offered by your employer. This website provides Flexible Spending Account participants, whose employers have contracted with BenefitHelp Solutions, access to information about each account as well as access to forms.
Important Rules to Consider before enrolling in a Flexible Spending Account
- Use it or lost it - All funds deducted from your paycheck and are placed in a Flexible Spending Account must be used during the plan year or they will be forfeited. It is very important that you deduct what you normally expect to pay for out-of-pocket services.
- Your elections cannot be changed or revoked unless you experience a qualified family status change.
- Participation in Flexible Spending Accounts may slightly reduce your Social Security benefits.
- Funds cannot be moved from your healthcare to your dependent care account or visa versa.
