Flexible Spending Account (FSA)
The Healthcare FSA allows you to set aside pre-tax dollars for your out-of-pocket health care expenses, e.g. physician fees, prescription drug copayments, deductibles, dental expenses, prescription eyeglasses, and contact lenses. The plan year maximum for January 1, 2024 - December 31, 2024 is $3,200.
The Dependent Care FSA helps you to save for the care and supervision of your child. By contributing a portion of your payroll dollars into your Dependent Care FSA, you can save for the services you incur. The maximum contribution you can make to your Dependent Care FSA for the period of January 1, 2024 - December 31, 2024 is $5,000 per family. Some common eligible expenses include child care, preschool, before and after school care, and day camps. School tuition and overnight camps are not eligible.
IMPORTANT DATES FOR YOUR FSA –
- January 1, 2024 - December 31, 2024 Healthcare FSA
- All expenses claimed against the account must have been incurred between 1/1/2024 and 12/31/2024
- The last date to file claims incurred within those dates is 3/31/2025
- Up to $640 from the 1/1/2023 to 12/31/2023 plan year that went unused will rollover into an 2024 account.
- January 1, 2024 - December 31, 2024 Dependent Care FSA
- All expenses claimed against the account must have been incurred between 1/1/2024 and 12/31/2024
- The last date to file claims incurred within those dates is 3/31/2025
- Any unused funds in your dependent care FSA will be forfeited at the end of 2024
If you would like to file claims for reimbursement or have additional questions you can go to www.naviabenefits.com or give Navia a call at (425) 452-3500.