Flexible spending account
FSAs allow you to use pre-tax dollars to reimburse yourself for IRS-qualified expenses.
- Use a Health Care FSA for IRS-qualified medical and dental expenses not covered in your plan.
- Use a Dependent Care FSA for IRS-qualified day care expenses that allow you to work.
You choose an annual amount to contribute to your account, and your payroll deducts your salary contribution (which must be at least $20) before calculating your taxes. Paying for eligible expenses with these pre-tax dollars saves on your taxes.
Here are things to know about these accounts.
- FSAs operate according to IRS code.
- The annual employee contribution limit for an individual health care FSA is $2,500.
- The annual employee contribution limit for an individual dependent care FSA $5,000.
- The minimum monthly contribution amount is $20.
- When you enroll, you enroll for the entire plan year; plan accordingly.
- You forfeit any funds that you don’t use and claim for valid expenses by the deadline.
- Your payroll will deduct even portions (which must be at least $20) of your annual total election amount from each paycheck over the course of the year. For academic-year employees, this may be nine or 10 months.
Contact ASIFlex with questions regarding all aspects of your program
The customer service department is open from 5 a.m. to 5 p.m. Pacific Time Monday through Friday and from 7 a.m. to 11 a.m. Saturday.
More Information
Plan Description
ASIFlEX Webpage