More employees face larger personal responsibilities with their benefits plans with out of pocket costs from your medical, dental, and vision plans.
FSA’s (Flexible Spending Arrangements) provide tax savings for both the employer & employees for medical expenses.
Recent changes in FSA’s now permit:
- $500 to roll over into the succeeding year
- Payment of Over the Counter medications
- Employer contribution of $500
The annual allowance for 2021 remains unchanged at $2,750. The Dependent Care annual allowance also remains unchanged at $5,000.
Please review our FSA brochure and FAQs (frequently asked questions).