Benefit Summary
There are two types of Flexible Spending Accounts—a medical reimbursement account and a child care reimbursement account. Enrollment in the Flexible Reimbursement Plan ends December 31 of each year and the employee must re-enroll in future years during Open Enrollment to participate in those years.
A Flexible Spending Account is a tax-free account that allows you to pay for essential expenses. The two types of flexible spending accounts are a medical reimbursement account ($500 minimum/$3,200 maximum) and a child care reimbursement account ($500 minimum/$5,000 maximum). By contributing a portion of your paycheck to an FSA on a pre-tax basis, you save on the cost of eligible expenses you are already incurring. When you enroll in an FSA, you decide how much to contribute to the account for the entire plan year. The money is deducted from your paycheck pre-tax (before federal and state income taxes and FICA taxes are deducted) in equal amounts over the course of the plan year. Your election is binding throughout the entire plan year. Any amounts remaining in your account(s) not used for eligible expenses incurred during the plan year will be forfeited (with the exception of up to $640 from 2025 plan year contributions which are allowed to carry over into the 2026 plan year for the Medical Reimbursement Account) in accordance with the current plan provisions and tax laws. Your enrollment in the Flexible Reimbursement Plan ends December 31st of each year, and you must re-enroll in future years during Open Enrollment to participate in those years.