You do not need to be enrolled in the medical plan to take advantage of the FSA!
With an FSA, you can set aside money from your paycheck before the government takes out taxes (usually 30% or more) to pay for healthcare and dependent child care expenses. You pay less in taxes and your money buys more! While you should only set aside enough money for those expenses you know you will incur during the plan year, the roll-over provision allows you to carry forward up to $500 into the next plan year for your healthcare FSA.
In 2021, employees can set aside up to $2,750 in pre-tax money for eligible health care expenses and up to $5,000 for dependent care expenses.
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what expenses are
eligible and ineligible
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Don't Forget - If you want to particiapte in the FSA you must re-enroll every year!
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