Flexible Spending is a optional self-funded, pre-tax savings account you can use to pay for your qualifying out-of-pocket medical expenses not covered by insurance, and for daycare expenses. All employees who are eligible under their collective bargaining agreement for insurance are eligible to participate in either of the flexible spending accounts. The flexible spending provider is HealthPartners and the plan is the "Empower FSA Plan".
With flexible spending, money is deducted before taxes and then reimbursed to you for your medical or daycare expenses. So, in effect, the money you pay for medical or daycare expenses is not subject to federal or state income taxes or to social security taxes.
The maximum amount for dependent care reimbursement is $5000.00 per calendar year and must be re-elected each calendar year during open enrollment. The limit for medical reimbursement is $2500.00 per calendar year and also must be re-elected each calendar year during open enrollment. Open enrollment for this program occurs in the fall each year for the following calendar year (which runs January through December.) Outside of open enrollment, changes are allowed within 30 days of a qualifying family status change.
IMPORTANT NOTE: If you are covered under a Health Savings Account (HSA) you cannot participate in the medical reimbursement for flex spending – you would only be able to participate in the dependent care reimbursement program. (If you elected the HSA Qualified high deductible health plan as your insurance coverage but do not have an HSA plan attached to it, you are elgiible to participate in the flexible spending reimbursement program.)
If you have additional questions about flexible spending, contact the benefits staff within Human Resources.
Back to Benefits Main Page
IRS Publication 502 (Medical & Dental expenses)
IRS Publication 503 (Child & Dependent Care expenses)
Saint Paul Public Schools, District 625 | 360 Colborne Street, Saint Paul, MN, 55102 | 651-767-8100 | firstname.lastname@example.org
© Copyright 2011 Saint Paul Public Schools. All rights reserved.