HEALTH CARE FLEXIBLE SPENDING ACCOUNT What is an FSA? • A type of account offered by your employers that allows you to set aside funds for qualified expenses • You can side aside pre-tax dollars from each paycheck • Reduce the amount you pay in taxes • Annual Election- Open Enrollment only, unless you experience a qualifying event • The annual election is divided equally by the number of pay periods Funds Rollover • Your plan includes a rollover option: o For plan year ending 9/24/23 you may rollover up to $570 of unused Health Care FSA funds o For plan year ending 9/24/24, you may rollover up to $610 of unused Health Care FSA funds • The amount you rollover does not count against your allowed 2023 maximum election • Your entire annual election (and rollover) is available to use on the 1st day of the plan year • You have until 12/23/23 to submit claims (to London Health) for reimbursement that were incurred in the prior plan year (from 9/25/22 – 9/24/23) • You can NOT enroll in the Health Care FSA if you are contributing to a spouse’s or past HSA account [ 18 ]