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Flexible Spending Accounts (FSA)
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What is an FSA?
FSA's allow you to pay for certain medical or dependent care expenses with pre-tax dollars!
Why choose to participate in an FSA?
By paying for your medical or dependent care expenses with pre-tax dollars, you save on Federal, State, and Social Security taxes. You can save $25 or more for every $100 you set aside.
Savings will vary for each participant depending on variable information such as marital status, number of exemptions, and marginal tax bracket. Consult with your tax advisor to determine your actual potential savings. Put More Money in Your Wallet
How do FSA's work?
You decide how much to contribute to the account for the entire plan year (January 1 - December 31). There are two accounts available to employees, the Health Care FSA and the Dependent Care FSA. The annual maximum is $5,000 for either account and whatever amount you elect for 2010 is deducted from your paychecks pre-tax in equal amounts over the course of the 2010 plan year. Expenses MUST be incurred during the plan year to be eligible for reimbursement. NOTE: Use it or Lose it - Any unused funds remaining in your account, at year end, will be forfeited.
FSA claims may be filed by completing a claim form and faxing to the toll-free number: 1-866-381-9682.
Plan Adminstrator - ASI
ASI is the plan administrator of the FSA's. For specific questions about your FSA, please contact ASI.
ASI
PO Box 6044
Columbia, MO 65205-6044
(800) 659-3035
asi@asiflex.com
FSA COBRA Continuation of Coverage
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| Last Updated (
Thursday, 05 November 2009 ) |
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