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2024 Benefits Guide - Corporate

Flexible Spending Accounts (FSA)

One of the best ways to maximize your paycheck is to save pre-tax money for qualified expenses with an FSA. FSAs help you save money on healthcare, dependent care and commuter expenses by paying for eligible expenses with tax-free dollars.

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Image 1 Enrollment &
Eligibility
Image 2 Medical Plans
Image 3 Dental & Vision
Image 4 FSA
Image 1 Retirement
Planning
Image 2 Additional
Benefits
Image 3 Key Contacts &
Terms
Image 4 Important
Notices

Healthcare FSA

The Healthcare FSA lets you set aside pre-tax funds via payroll deductions. You can use the money to reimburse yourself for eligible medical, dental and vision expenses. In 2024, you can contribute up to the annual maximum plan contribution limit set by the IRS. Any funds left in the Healthcare FSA on December 31st of each plan year will be forfeited, except for balances up to the maximum limit that can be carried over into the next plan year.

 

Check Out All Eligible Expenses

How's It Work?

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Determine your estimated FSA limit

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Establish your (pre-tax) deductions

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Use your FSA debit card or submit receipts

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Roll over up to $640 in FSA funds to the next year

Dependant Care FSA

A Dependent Care FSA can be used to pay for eligible expenses you incur for childcare, or for the care of a disabled dependent, while you work. Employees may defer up to $5,000 pre-tax per year.

Funds do not roll-over to the next year. 

How's It Work?

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Determine your estimated FSA limit

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Establish your (pre-tax) deductions

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Use your FSA debit card or submit receipts

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Use it or lose it! FSA funds don’t rollover

Commuter FSA

TCWGlobal’s Commuter FSA benefit is a great way to save on your daily commute to work! With a Commuter FSA you can put aside up to $300 per month pre-tax for mass transit and up to $300 per month for parking.

 

A Few FSA Rules

  • If you or one of your dependents are currently contributing to an HSA you are not eligible for Health Care FSA.

  • Health and/or Dependent Care FSA claims may be submitted up to 60 days following your termination date; however, the dates of service on all claims must be prior to your date of termination.

  • It’s important to carefully estimate your annual contributions, the IRS requires that you forfeit any unclaimed funds in your account(s) above the $640 rollover (the “use it or lose it” rule).

  • Save a copy of your receipt until the claim is approved.

Check Out the Full Benefits Guide

Benefits Guide
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