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Topic: Flexible spending account

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	Flexible spending accounts take a bite out of your tax bill (Page 1 of 4)
		Flexible spending accounts, already a big attraction for workers seeking a tax-smart way to pay some routine expenses, are getting even more appealing.
		Previously, workers had to spend FSA contributions by the end of the company's benefit year, which in most cases is Dec. 31.
		Medical spending account owners are likely to benefit most from the change, but the rule also applies to dependent-care accounts.
	www.bankrate.com /brm/itax/news/20001129a.asp (574 words)

	Flexible spending account - Wikipedia, the free encyclopedia
		A flexible spending account (FSA) is a tax-advantaged savings account set up through an employer in the United States.
		An FSA allows an employee to set aside a portion of his or her earnings to pay for qualified medical or dependent care expenses.
		If this example person had not utilized the FSA, they likely would not have been able to deduct this $2,000 expense because it would not have met the 7.5% of Adjusted Gross Income threshold needed to be able to deduct it on their federal tax return.
	en.wikipedia.org /wiki/Flexible_spending_account (479 words)

	Flexible Spending Account - Priority FSA - Michigan Flexible Spending Account - Priority Health Michigan
		Flexible Spending Account could give you tax savings of up to 40 percent of every dollar you spend on health care deductibles, copayments, over-the-counter medicines, dental care, braces, glasses or contacts, child care and much more.
		An FSA account allows you to set aside tax-free dollars to pay for dependent care and certain health expenses that are not paid for by your health insurance plan.
		The entire annual amount you set aside in a flexible spending account is available right away to cover many of your health care expenses.
	www.priorityhealth.com /corporate/products/healthflex (312 words)

	Deductibility of flexible spending account
		A health flexible spending arrangement, or FSA, allows employees to be reimbursed for qualified medical expenses on a pretax basis.
		This means that the amount that you elect to defer into an FSA is not included as wages on your Form W-2.
		This means that if you anticipate spending $2,000 a year in noncovered medical expenses, you would ask your employer to defer $2,000 of your salary to an FSA to pay for these items as they are incurred.
	www.bankrate.com /brm/itax/tax_adviser/20051123a1.asp (511 words)

	Benefits-OSU Office of Human Resources (Site not responding. Last check: 2007-09-17)
		Flexible Spending Accounts (FSA) allow you to contribute - through payroll deduction on a pre-tax basis - to a health care and/or dependent care spending account.
		Flexible Spending Account contributions are taken from your pay before taxes, reducing the gross amount that can be taxed.
		Eligible employees may change their Flexible Spending Account elections during Open Enrollment, or within 31 days of a qualifying status change.
	hr.osu.edu /benefits/healthflex.htm (524 words)

	FlexibleSpendingAccounts
		Under a spending account arrangement, you make contributions to the account from your salary each pay period - before payroll taxes are computed - and are then reimbursed for eligible expenses from your Flexible Spending Account (s) as you present your claim for payment.
		Your contributions for a plan year to the Spending Account can only be used to reimburse (repay) eligible health care or dependent care expenses which you incur for yourself and/or eligible members of your family during the plan year.
		Expenses that you incur in excess of your account balance at the end of the plan year cannot be reimbursed nor carried forward for reimbursement in a subsequent plan year.
	www.aug.edu /personnel/FlexibleSpendingAccounts.html (2100 words)

	Flexible Spending Account
		Flexible Spending Accounts (FSA) allows you to have money deducted, on a pre-tax basis from your paycheck and placed in an account from which you are reimbursed for non-covered medical and/or dependent care expenses.
		This account will reimburse you with tax-free dollars for day care expenses incurred for your dependent child under age 13 while you and your spouse (if married) are at work.
		Day care expenses incurred for dependents age 13 or over are considered eligible only if the dependent is physically or mentally disabled, spends at least eight hours a day in your home and depends on you for at least half of his or her support.
	www.pace.edu /hr/benefit/reim_acc.htm (981 words)

	CIGNA - Flexible Spending Accounts: Make good use of your per-tax dollars. (Site not responding. Last check: 2007-09-17)
		To set a portion aside in a special account to cover the annual health and dependent day care of everyone in your family, tax-free.
		Flexible Spending Accounts enable you to set aside a predetermined dollar amount in an account to cover eligible out-of-pocket health care and dependent day care throughout the year.
		IRS rules allow you to contribute to your account(s) through payroll deduction on a pre-tax basis — before federal income tax, social security, or (in most cases) state withholding taxes are deducted — reducing your taxable income.
	www.cigna.com /health/consumer/medical/fsa.html (1616 words)

	Flexible Spending Accounts (Site not responding. Last check: 2007-09-17)
		The money that you choose to deposit each pay period into your flexible spending account is deducted from your gross pay before taxes are calculated.
		Expenses reimbursed from an FSA cannot be deducted on your federal tax return.
		Each year during the FSA open enrollment period you are given the opportunity to participate in the plan.
	www.washington.edu /admin/hr/benefits/fsa.html (1067 words)

	flexible spending account (Site not responding. Last check: 2007-09-17)
		A flexible benefit plan that allows an employee a tax exemption from federal and most state taxes to pay for approved expenses out of an account managed by the employer.
		Employees may have payroll deductions deposited to such an account during the year to be reimbursed at year's end for out-of-pocket medical, dental, and day-care expenses.
		Since qualified expenses are paid with pre-tax funds, they are effectively less costly to the employee; however, unused funds in the account are forfeited to the government, making it important for participating employees not to overestimate their expenses.
	insurance.cch.com /rupps/flexible-spending-account.htm (94 words)

	COBRA Health Care Flexible Spending Account
		If you are enrolled in a health care flexible spending account, your pre-tax contributions to the account end with the pay period in which you terminate employment.
		Only expenses incurred while you are participating in the health care flexible spending account are eligible for reimbursement.
		If you have an account balance and are unable to incur eligible health care expenses while making deposits to the account, the balance will be forfeited.
	www1.umn.edu /ohr/benefits/cobra/fsa.html (281 words)

	Flexible Spending Account
		The flexible spending accounts allow participants to make pre-tax contributions to accounts used to pay for eligible health, day care, and group insurance premium expenses.
		Participants must re-enroll for Health Care and Dependent Care Spending Accounts each year by completing a new enrollment form during the annual open enrollment period; contribution amounts may be changed at that time.
		Further, medical or dependent care spending account balances not spent by the end of the plan year will be forfeited.
	www.lclark.edu /dept/hrpolicy/flex_spend.html (567 words)

	Flexible Spending Account (Site not responding. Last check: 2007-09-17)
		Once you determine the amount you plan to spend for eligible health care expenses, you elect that amount towards a Flexible Spending Account.
		Dependent Care FSA requires that all participants provide an itemized bill from an independent third party (provider of service) stating that the dependent care expenses have been incurred and lists the amount of such expenses.
		Not on expenses that were reimbursed through the Dependent Care Spending Account.
	www.miami.edu /benefits/FSAfaqt.htm (717 words)

	NIH/OHR/BPLB - Flexible Spending Account
		A Flexible Spending Account is an employee benefit that allows you to set aside money, on a pre-tax basis, for certain kinds of common expenses.
		A Dependent Care FSA (DCFSA) allows participants to be reimbursed on a pre-tax basis for child care or adult dependent care expenses that are necessary to allow you, and if married, your spouse to work, seek work, or, for your spouse, to attend school full time.
		The FSA program is administered by SHPS, Inc. You will voluntarily enroll directly with SHPS during open season through their FSAFEDS website.
	hr.od.nih.gov /Benefits/fsa.htm (775 words)

	BCBSF - Flexible Spending Account (FSA)
		These accounts allow you to proactively set aside your own pre-tax dollars to cover eligible expenses that may not be covered by your health plan.
		The amount in a Dependent Care FSA is available at any time during the year, and is equal to the related payroll deductions you have made to date, less reimbursements that have already been made to you during the year.
		Contributions made to an FSA do not rollover from year to year, so wise planning is important.
	www.bcbsfl.com /index.cfm?fuseaction=FlexibleSpending.home (556 words)

	Flexible Spending Account Program FAQ'S
		The Dependent Care FSA is limited to $5,000 per year (for you and your spouse together), $2,500 if married filing separately, for any number of dependents.
		The FSA Dependent Care Plan maximum limit is established by the IRS; therefore, you and your spouse may together elect a maximum of $5,000 per plan year for this plan.
		In September 2003, the IRS expanded eligible reimbursable Health Care FSA expenses to include qualified over-the-counter drugs and medicines purchased to treat an existing or imminent medical condition for all purchases made starting at the beginning of the 2003 plan year.
	www.hr.arizona.edu /04_cb/benefits/uum/fsa/fsa_faq.php (1108 words)

	Flexible Spending Account
		Sometimes referred to as a cafeteria plan, flex plan, or Section 125 Plan, a Flexible Spending Account (FSA) lets employees set aside a certain amount of each paycheck into an account — before paying income taxes.
		Empower Health Reimbursement Arrangement (HRA) plans provide for employer-funded account to repay the unreimbursed medical expenses of employees, along with an option to carry unused funds forward.
		An HRA account may reimburse any or all the same expenses as a Section 125 Flexible Spending Account (FSA).
	www.empowerflex.com /FSA.html (362 words)

	Flexible Spending Account (Site not responding. Last check: 2007-09-17)
		There is a $5000 maximum established for each account (e.g., $5000 medical expenses, and $5000 dependent care expenses).
		Unspent funds are forfeited at the end of the calendar year, so it is important to estimate your expenses conservatively.
		To enroll in a flexible spending account, you must complete a Custom Benefits Services Employee Election form, available from Human Resources.
	www.spcollege.edu /central/hr/flexible.htm (186 words)

	FlexAmerica - Flexible Spending Account
		These flexible spending plans give employees the choice between different types of benefits or cash to suit their individual needs
		A. Employees who do not use their elected benefits by the end of the plan year lose their money, and if an employee leaves with a negative account balance, the money can not be withheld.
		The healthcare spending account is subject to COBRA.
	www.flexamerica.com /FlexSpendAcct.htm (934 words)

	Flexible Spending Account (FSA) Administration Services
		Flexible Spending Accounts are among the most popular and cost effective benefits employers can offer.
		Flexible benefit plans mean the government taxes less income - and helps reduce FICA taxes.
		FSA administration is supported in partnership with Complink, one of the largest providers of these services in the United States.
	www.employease.com /outsourcing/fsa.php (260 words)

	OHR: Health Care Flexible Spending Account
		This program is sponsored by the State of North Carolina as part of the NC Flex package of health benefits.
		The Health Care Flexible Spending Account (HCFSA) is a pre-tax benefit for reimbursing employees for out-of-pocket medical expenses.
		The reimbursement amount is based solely on the employee's contributions to the spending account.
	hr.unc.edu /Data/benefits/ncflex/flexspending-health (851 words)

	Flexible Spending Account (FSA)
		Set up by an employer for an employee, the account allows employees to contribute a portion of their regular earnings to pay for qualified expenses, such as medical expenses or dependent care expenses.
		One of the key benefits of a flexible spending account is that the funds contributed to the account are deducted from the employee's earnings before they are made subject to payroll taxes.
		For medical expense FSA accounts, the limit is set by the employer, while the specified limit for dependent care accounts is $5,000 per year.
	www.taxopedia.com /terms/f/flexiblespendingaccount.asp (311 words)

	Flexible Spending Account
		A claim can be paid for the whole annual election at any time in the plan year for the Flexible Spending Account.
		Dependent Care Account claims can only be paid for the amount of money deposited in the account at that time.
		Premiums can be changed during the plan year when the renewal for the Health Insurance is at a different time than the open enrollment for the Flexible Spending Plan.
	www.flexamerica.com /fsa3.htm (291 words)

	Flexible Spending Account (Site not responding. Last check: 2007-09-17)
		Your Medical Expense Reimbursement Account may be used to reimburse you for expenses incurred for treatment of you, your spouse, and your eligible dependents.
		Eligible medical expenses include deductibles and coinsurance amounts under a group health plan, charges that are in excess of the amount reimbursed under group health plan, and charges that are not covered by a group health plan such as certain corrective surgery, vision care, dental care and hearing aids.
		This statement must show the date of service, name of the provider, name of person treated, type of service, and charge for the service.
	www.nkces.org /flexible_spending_account.htm (1311 words)

	AFA - Flexible Spending Account Frequently Asked Questions
		At the end of the grace period, you will have an additional length of time (the run-off period) to submit claims that were incurred during the immediately preceding plan year and/or grace period following that plan year.
		If your employer does not allow for the grace period on the Medical Expense Reimbursement Account, you will have a run-off period (usually 90 days) after your plan year ends during which you may submit claims for reimbursement which were incurred during the immediately preceding plan year.
		If your spouse is either a full-time student or not able to care for himself or herself, your spouse will be considered to have earned income of $250 a month if there is one qualifying dependent in the home, or $500 a month if there are two or more qualifying dependents in the home.
	www.afadvantage.com /flex-faq.asp (1356 words)

	Flexible Spending Account
		Your medical FSA can be used to cover a variety of medical expenses incurred by you, your spouse and your dependents.
		If you have funds in your account and the expense is eligible under your account, you will be reimbursed for the cost.
		Note: An FSA may disqualify you from having a Health Savings Account.
	www.selectaccount.com /public/fsa (318 words)

	Fool.com: Your Deadline's Approaching [Motley Fool Take] October 20, 2003
		Participating in a flexible spending account (FSA) is a great way to slash your tax tab.
		Here's how it works: At the beginning of the year, you designate an amount to be taken out of your paycheck pretax to be set aside for eligible medical expenses.
		Contribute $500 to an FSA, and you could shave $75 to $200 off your tax bill, depending on your tax bracket.
	www.fool.com /News/mft/2003/mft03102006.htm (407 words)

	PowerFlex, Flexible Spending Account Administration with the Power of Choice
		Flexible Spending Account Administration with the Power of Choice
		The decision to manage your Flexible Spending Account (FSA) internally or outsource the administration can be a tough one.
		The card deducts each payment directly from your FSA account, so it's as convenient as using an ordinary credit card.
	www.powerflexsoftware.com (173 words)

	State University of New York :: SUNY Benefits - Flexible Spending Account (HCSA/DCAA) (Site not responding. Last check: 2007-09-17)
		The DCA Account is a flexible spending account program governed by the regulations of the Internal Revenue Service.
		The new HCS Account is another type of flexible spending account program that allows eligible State employees to set aside from $150 to $3,000 annually in pre-tax salary to pay for health-related expenses that are not reimbursed by health insurance.
		Participants who are currently in the DCA Account must re-enroll each year if they wish to continue their benefits.
	www.suny.edu /benefits/FlexibleSpendingAccount.cfm (275 words)

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