Dear Valued Employee:
When you enroll in a health flexible spending account (FSA), deductions come out of your paycheck before most withholding taxes are computed, reducing your taxable income and increasing your take-home pay!
Last year, the "Use It or Lose It" provision changed to allow the rollover of health FSA funds. This means that the risk of losing your FSA healthcare contributions at the end of the year is reduced.
This is great news for you because:
- At the end of the plan year, you can roll over up to $500 of unused health FSA funds into the next plan year — and worry less about forfeiting unused funds at the end of the year!
Start Small. You don't have to invest a lot. Even if you only contribute $250 annually, you'll be surprised at how quickly your medical expenses add up and how much you can save.
Budgeting Made Simple. Regular payroll deductions help you spread out medical, dental, vision, orthodontia, and dependent care expenses over the year.
Enroll. You can enroll on our participant website at https://benefits.paychex.com or by phone at 877-244-1771. You can also contact your employer to obtain a paper form. Be sure to visit our website to access valuable resources, including a calculator that can help you determine how much to contribute.
If you have questions about this option or other changes to your plan, please consult your employer.
Paychex Section 125 Department