Flexible spending accounts
This presentation is the property of its rightful owner.
Sponsored Links
1 / 10

Flexible Spending Accounts PowerPoint PPT Presentation


  • 50 Views
  • Uploaded on
  • Presentation posted in: General

Flexible Spending Accounts. Taxed by medical expenses? Open an FSA. Flexible Spending Accounts. What is an FSA?

Download Presentation

Flexible Spending Accounts

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


Flexible spending accounts

Flexible Spending Accounts

Taxed by medical expenses?

Open an FSA.


Flexible spending accounts1

Flexible Spending Accounts

What is an FSA?

A flexible spending account (FSA) allows you to put money aside to pay for certain out-of-pocket health care and dependent care costs. You do not pay taxes on this money, so it’s additional money in your pocket, less to Uncle Sam.


Flexible spending accounts2

Flexible Spending Accounts

What is available to me under an FSA?

  • Health Care FSA

  • Dependent Care FSA


What are the differences

What are the differences?

  • Health Care FSA – Reimburse yourself for copays, dental work, eye glasses, hearing aids, prescriptions and more.

  • Dependent Care FSA – day care and after- and before-school care


Flexible spending accounts

Show me how I can save more taxes!


Flexible spending accounts

LET’S GO ON VACATION!DEBBIE SAVED $1,312

“With two children, ages 5 and 7, my health care and day care expenses can add up very quickly. Since I started contributing to my FSA, I’ve saved over a thousand dollars on everything from prescriptions and doctors’ visits to contact lenses.”

STRAIGHT TEETH – LET’S TAKE SOME PROFESSIONAL PHOTOGRAPHS!

LIZ SAVED $845

“Braces are so expensive, especially for the third time around. But with my FSA, I was able to save hundreds of dollars.”


Flexible spending accounts

I HAVE MY ALLERGIES UNDER CONTROL; LET’S GO GOLFING!TYLER SAVED $495

“I travel the world for my job, and it seems like it’s allergy season everywhere I go. After signing up for an FSA, I have been able to pay for over-the-counter products, copays and allergy shots with my pre-tax funds. With the money I’ve saved, I didn’t lose out on the opportunity to buy new golf clubs!”

MY TRIO!

LEAH SAVED $1,473

“Day care expenses are extraordinary for my family of three little ones. Being able to pay for part of this expense with my FSA dependent care pre-tax account is great! With our tax savings of over $1,400, we bought a new jungle gym for the back yard.”


I m ready next steps

I’m ready! Next steps?

Health Care FSA – Consider your out-of-pocket expenses for medical, vision or pharmacy charges. Don’t forget dental. You may set aside up to $2,500 each plan year.

Dependent Care FSA – Consider any day care, nanny services, and before- and after-school day care costs. You may set aside up to $5,000 per year (per household, married filing a joint tax return).


Let s enroll

Let’s enroll!

You may open a flexible spending account each Open Enrollment.

Open Enrollment for the 2014-15 plan year opens on

April 28 and ends at 5 p.m. May 16, 2014.

Complete your enrollment online via the employee portal, my.cu.edu.


What have you got to lose

What Have You Got to Lose?


  • Login