Flexible Spending Account

  • FSASPS employees may use pre-tax dollars to pay for covered expenses. The annual maximum amount you may contribute to the Health Care FSA is projected to be $3,200 in 2024.

    Dependent Care Flexible Spending Account: SPS employees may use pre-tax dollars for qualified dependent care. The annual maximum is $5,000 per household (or $2,500 if married and filing separately).

    Sometimes referred to as a Cafeteria Plan, Flex Plan, or a Section 125 plan — a Flexible Spending Account (FSA) allows you to set aside a specific amount from your paycheck, before paying  taxes, and have it deposited into an FSA account for reimbursement of your qualifying medical, dental and/or dependent daycare expenses.  The maximum contribution limit for Health Care FSA is $2,850 for 2022, $3,050 for 2023 and $5,000 for dependent care. We use TASC.

Contact TASC

Use It or Lose It

  • Estimating your annual out-of-pocket amount of medical, dental and vision and/or daycare expenses will be important, as FSAs operate under the “use it or lose it” IRS rule. SPS has a grace period of 70 days in which you can continue to utilize the previous year’s funds. All claims must be submitted by day 90 in the new year.  Funds that are not claimed during that frame time are forfeited. The plan year is January 1 through December 31 and you have until March 15 to incur claims and would have to file the claims no later than March 30.  

     

TASC Card

  • The TASC card allows employees who participate in a pre-tax medical flexible spending account to use it to pay for qualifying medical expenses. Employees participating in the FSA will be charged a $3.00 per month administration fee by TASC regardless of use. 

TASC Mobile App

  • Gives you anytime, anywhere convenience so you can make the most of your benefits. With the TASC Mobile app you will be able to check FSA balances; file FSA medical claims; upload receipts using the camera on your device; view account activity; and receive text alerts.

    Website: https://www.tasconline.com/