|
Do you have dependent care expenses or qualified medical expenses that are not
reimbursed by insurance? Flexible spending accounts permit you to pay for
these qualified expenses with pre-tax dollars!
Flexible spending accounts are available to employees through the Section
125 plan. These options allow an employee to establish
an account to reimburse certain types of expenses on a tax-exempt basis.
There are two types of flexible spending accounts that may be elected:
- Medical Expense Reimbursement - reimburses qualified
uninsured out-of-pocket medical expenses
- Dependent Care Expense Reimbursement - reimburses
allowable dependent care expenses
Highlights:
The employee specifies
the amount to be reduced from his/her salary for the reimbursement account.
Each month, these pre-tax contributions are made to the appropriate account established in
the employee's name. As qualified medical or dependent care expenses are
incurred, the employee submits a voucher form for easy reimbursement.
Benefits:
Tax savings realized by participating
in the 125 plan are enjoyed throughout the year rather than at the end of the year after you
file your income taxes.
You may submit dependent care or medical expense claims for reimbursement as late as 90 days
after the end of the plan year during which they were incurred (see your employer
for details).
Contact American Fidelity about this product:
|
| Please select who you are inquiring for and click the "Next" button to continue. |
|
|
|
|
|
