Flexible Spending Accounts
STMA offers Medical Flexible Spending Accounts and Dependent Care Flexible Spending Accounts for all employees working 15 or more hours per week through Further. Plans run October - September for existing employees to enroll or re-enroll. New employees have 27 days to enroll in EaseCentral. Mid-year changes can only be made with a Qualifying Event.
FSA Medical Spending Account has a maximum annual election amount of $2700 for 2019.
The Affordable Care Act (ACA) modified the medical flexible spending plans to allow for a $500 rollover. This means that if you do not incur qualified medical expenses before September 30, 2019, instead of losing this money, you can roll over up to $500 of your annual election to use in the next plan year.
FSA Dependent Care Spending Account has a maximum annual election amount of $5000. No rollover option
If you have a current FSA that rolls over, this will disqualify you from contributing or receiving district contributions to an HSA for the entire plan year unless the FSA is a limited (dental & vision) plan. Further will automatically limit your FSA if you open an HSA through ISD 885 or Further. If you open an HSA with another vendor, you will need to limit your account manually. You can designate your medical FSA to be limited by creating or logging in at www.hellofurther.com