Flexible Spending Account (125 Plan) Resources

Dundee CSD Flexible Spending Account

A flexible spending account (FSA), is one of a number of tax-advantaged financial accounts that can be set up through a cafeteria plan of an employer in the United States. An FSA allows an employee to set aside a portion of earnings to pay for qualified expenses as established in the cafeteria plan, most commonly for medical expenses but often for dependent care or other expenses. Money deducted from an employee's pay into an FSA is not subject to payroll taxes,resulting in substantial payroll tax savings. Under the terms of the Affordable Care Act, an employee can now carryover up to $500 into the next year without losing the funds.

Dundee's FSA plan includes both a Medical and Dependent Care plan.  The open enrollment period is the month of June, with the deduction for the FSA starting with the first payroll in September.  The plan year is September 1 - August 31.  Any employee may enroll (except substitutes) and the maximum annual contribution limit is $2,500 for medical and $5,000 for dependent care.Enrollment is an annual event, requiring a new enrollment each year.

Want to Learn More About FSA Plans? Click Here

Want to Learn About the Types of Expenses Covered by an FSA? Click Here

Want to Enroll in Dundee's FSA Plan? Click Here.  Completed forms must be turned into the Business Office for enrollment processing.  Do not send completed form to EBS-RMSCO.