AMERIFLEX | Flexible Spending Accounts (FSA)
AMERIFLEX | Flexible Spending Accounts (FSA)
FSA Plan Year: January 1 – December 31
Flexible Spending Accounts (FSAs) are special tax-advantaged accounts used to pay for eligible out-of-pocket health care and dependent care expenses. If elected, your account(s) will be funded with tax-free dollars using convenient payroll deductions. Inglewood employees are offered three Flexible Spending Account (FSA) options:
- Health FSA
- Dependent Care FSA
- Commuter Reimbursement Account
IMPORTANT
- Only expenses for services incurred during the plan year are eligible for reimbursement from your accounts
- If you are using your debit card, you must save your receipts, just in case Ameriflex needs a copy for verification
- All receipts should be itemized to reflect what product or service was purchased
- Credit card receipts are not sufficient per IRS guidelines
HEALTH FSA
This plan is used to pay for expenses not covered under your health plans, such as deductibles, coinsurance, copays and expenses that exceed plan limits. You may defer up to $2,700 pre-tax per year. Eligible health care expenses include:
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- Coinsurance/Copays
- Deductibles
- Medical & Prescriptions
- Dental/Orthodontia
- Eye Exams/Eyeglasses/Lasik Eye Surgery
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DEPENDENT CARE FSA
This plan is used to pay for eligible expenses you incur for child care, or for the care of a disabled dependent, while you work. Employees may defer up to $5,000 pre-tax per tax household per year. Eligible dependent care expenses include:
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- Licensed Nursery Schools
- Qualified Childcare Centers
- After School Programs
- Summer Camps (under age 13)
- Preschool
- Adult Daycare Facilities
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COMMUTER REIMBURSEMENT ACCOUNT (CRA)
If you commute to work each day and spend money on transportation costs, you may be eligible to participate in a Commuter Reimbursement Account and set money aside tax-free to pay these costs. CRAs consist of Transit and Parking. Commuter reimbursement accounts allow for expenses in two categories:
| 1. TRANSIT | 2. PARKING |
| Bus | Parking Garages |
| Subway | Parking Kiosks/Meters |
| Rail Lines | Park & Ride |
| Ferry | |
| Commuter Highway Vehicle (Vanpool) | |
| MAX TRANSIT CONTRIBUTION: $260/Month | MAX PARKING CONTRIBUTION: $260/Month |