Sequoia Union High School District
Flexible Spending
Flexible spending accounts are managed by American Fidelity
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Flexible spending accounts are managed by American Fidelitytitle
Plan Year is January 1 - December 31
- Designate amount to put into account and you contribute per pay period
- Total amount designated is available to claim as of eligibility date (start date)
Tax Saving Benefits
- Regulated by Internal Revenue Code Section 125
- Set aside money tax free to pay for you normal out-of-pocket expenses
- There are 2 types: Unreimbursed Medical Accounts (also known as Health FSAs: $2,500), Dependent Care FSA: $5,000 ($2,500 if married and file a separate tax return)
IRS Regulations
- Use it or lose it rule
- Expenses must be incurred during the Plan Year
- Separate plan accounts for Health Care & Dependent Care
- Reimbursement is done by completing reimbursement form and save receipts
Resources
- American Fidelity
- American Fidelity phone number: (800) 365-8306