With a Flexible Spending Account (FSA), City & County employees can save up to 40% paying pre-tax for qualified out-of-pocket health care and dependent care expenses. FSA administrator P&A Group provides tools that allow you to submit reimbursements online or with a smart phone. So it is easier than ever to make the most of your FSA account. Read the brochure for details.
You can sign up for an FSA during open enrollment or as a new hire. The amount you request is deducted from each paycheck before taxes, and placed in your P&A Group FSA account. You then submit receipts to P&A Group for qualifying expenses, to receive your reimbursement.
You can choose to make contributions to a Health Care FSA, a Dependent Care FSA, or both. A Health Care FSA allows you to pay pre-tax for qualifying health care expenses, including medical, dental and vision co-pays, massage, chiropractic and acupuncture, for yourself and eligible family members. A Dependent Care FSA allows you to pay for certified day care, pre-school and elder care needed by eligible children under age 13 or aging parents. ( Note: if you have a stay-at-home parent in your household, you are not eligible for a Dependent Care FSA.)
Before enrolling in an FSA make sure to work out a detailed estimate of the eligible expenses you are likely to incur for the plan year ahead. Budget conservatively. Based on federal law, you may roll forward up to $500 in unused funds year-over-year. But any unreimbursed funds in excess of $500 are forfeited at the end of the plan year and cannot be returned to you.
After you are enrolled, there are four ways to submit an FSA claim to P&A Group:
Consult with your tax advisor or the IRS about your specific situation and your potential tax savings with an FSA. View IRS Publication 502 for information about the Healthcare FSA, and IRS Publication 503 for details about the Dependent Care FSA.
In some cases, due to certain qualifying events, a member may be allowed to initiate or modify FSA contributions during the plan year. A maximum of two benefit election changes due to qualifying events may be made per year. Contact HSS Member Services at 1-415-554-1750 if you have questions about an FSA and a qualifying event.
FSA Administrator: P&A Group
Questions? Visit padmin.com or call P&A Group at 1-800-688-2611.