Overview
A Health Care Flexible Spending Account (FSA) is an account provided by Bedford City School District that allows you to put aside money to pay for eligible healthcare and dependent daycare expenses. The money going into the account is tax-free (no payroll tax is withheld), saving you money on items and services you are already purchasing. Enrolling in a flexible spending account may save up to 40% on your healthcare costs.
A Health Care Flexible Spending Account reimburses eligible health care expenses for you and your tax dependents. Eligible expenses include medical, dental, or vision care costs not covered by insurance. Over-the-counter medications and other healthcare items also qualify.
Important Facts About Health Care Flexible Spending Accounts:
- For those who are enrolled in a $300 or $600 deductible plan
- Increased maximum contribution of $3,200 in 2024
- There is no rollover in 2024 - Use it or Lose it!
- Reimburses eligible health care expenses, including amounts not paid by your medical, dental, or vision plan for you and your tax dependents
If you are enrolled in a Health Care Flexible Spending Account, you can access your account, tools, and resources anytime at www.BenefitResource.com or 800.473.9595.
For more information about eligible expenses under a Healthcare FSA, please refer to IRS Publication 502.