The County offers you a great way to save money by paying for certain medical care expenses with pre-tax dollars. The FSA plan is convenient and easy to use.
The 2017-18 FSA Plan Year runs from July 22, 2017 to July 20, 2018.
Below are key considerations for FSA participants.
Annual Limits: The IRS annual contribution limit is increasing from $2,600 for 2017-18 plan year to $2,650 for 2018-19 plan year.
Roll Over: The IRS allows employers to roll over up to $500 of participant funds remaining in their FSA Account at the end of each plan year. Plan participants must enroll in the next plan year to be eligible for the roll over.
Existing participants: Up to $500 of funds remaining at the end of the 2017-18 FSA plan year will automatically roll over to the 2018-19 FSA plan year upon a confirmed enrollment. Any unused amounts over $500 for 2017-18 will be forfeited.
How the Plan Works
With an FSA, employees elect to set aside a portion of their biweekly salary before taxes are calculated and taken out. The money that is set aside is placed into the employee’s account, from which reimbursement for qualifying medical care expenses that the participant, their spouse or eligible dependent(s) incur.