**Please refer to the files at the bottom of this web page available for download.
What is a Flexible Spending Account? A flexible spending account (FSA), also known as a flexible spending arrangement, 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. One significant disadvantage to using an FSA is that funds not used by the end of the plan year are lost to the employee, known as the "use it or lose it" rule.[1]
Flex Spending Enrollment: Employees eligible for insurance benefits may enroll in the voluntary deduction flex spending plan of the district. Employees may only enroll during the district's open enrollment period through August 15th. Interested employees should download the FLEX SPENDING ENROLLMENT PACKET file available at the bottom of this web page, complete the packet, and return to the district office no later than August 15th.
Flex Spending Cap: As part of the Affordable Care Act, a $2,500 annual cap was imposed on FSA deductions for
cafeteria plan years beginning on or after January 1, 2013. In order to keep your FSA plan in
compliance with this new regulation an amendment is required to all plans currently allowing a
maximum annual contribution greater than $2,500. **Please refer to the FLEX SPENDING CAP file at the bottom of this web page available for download for more information.