Flexible Spending Accounts

The FSA (Flexible Spending Account) is only available to employees who are not enrolled in Health Insurance with the School District of Janesville.

An FSA Allows employees to withhold pre-tax dollars up to $3,300 per year to apply towards medical expenses, including deductible, dental, and vision. 

You don’t pay taxes on this money. This means you’ll save an amount equal to the taxes you would have paid on the money you set aside.

Flexible Account Claim Form

Eligible Expenses for Flex Spending Account 

FAQ for Flex Spending

Q.  Who is eligible for the Flexible Spending Account (FSA)?

A.  Any employee eligible for the FSA may enroll in either the traditional FSA or the Limited FSA.  However, if you are enrolled in the District’s H.S.A. Health insurance program, you may ONLY enroll in the Limited FSA.  IRS rules disqualify any person who contributes money (or has money contributed on their behalf) into a H.S.A. savings account from enrolling into a traditional FSA. 

Q.  Can my SPOUSE have a Flexible Spending Account with their own employer, if they are enrolled in the districts health insurance?

A. No.  

Q.  If I am NOT enrolled in the districts health plan, what Flex Spending plans am I eligible for?

A.  You may choose either the Traditional Flex (assuming you are not enrolled in a different H.S.A. health plan and having money enter into a HSA account) or Limited Flex.  

Your ability to enroll in the dependent flex account is never impacted with the type of health insurance you are enrolled in.

Q.  If I do not use all of my Flexible Spending or Limited Flexible Spending funds at the end of the plan year, do I lose that money?

A.  You are able to roll over $660 to the next plan year.  In addition, you have 90 days to submit a claim from the previous plan year, once a new plan year begins. 

A limited Flex Spending Account allows employees to withhold pre-tax dollars up to $3,300 per year to apply towards dental and vision expenses only. The limited health FSA works in conjunction with an HSA, allowing you to establish and contribute to an HSA. Because you pay for dental and vision expenses with the pre-tax dollars in the limited health FSA, you can save more money in your HSA.

Flex Account Claim Form

Eligible for Expenses for LIMITED Flex Spending Account

FAQ for Limited Flex Spending

Q.  Who is eligible for the Limited Flexible Spending Account?

A.  Employees who are enrolled in the district’s HSA health insurance or covered by a different company’s HSA plan, are eligible for the Limited Flexible Spending Account.

Q.  Can I have the HSA and Flexible Spending Account?

A.  If you are enrolled in the District’s HSA plan, you may also enroll in the Limited FSA.  

Q.  Can my SPOUSE have a limited Flexible Spending Account with their own employer, if they are enrolled in the districts health insurance?

A. Yes.

Q.  If I do not use all of my Flexible Spending or Limited Flexible Spending funds at the end of the plan year, do I lose that money?

A.  You are able to roll over $660 to the next plan year.  In addition, you have 90 days to submit a claim from the previous plan year, once a new plan year begins. 

Dependent Care Flexible Spending Account (FSA) is an IRS-approved, tax-free benefit plan that pays for daycare expenses incurred for your eligible dependents. You decide the amount you would like to contribute to the account, up to $5000 per year. And your election reduces your annual taxable income, saving you money.

You submit claims for daycare expenses to employee Benefits Corporation and, once you’ve received the service, they reimburse you using the funds you’ve placed in your Dependent Care FSA.

Dependent Care Flex Spending Account

Dependent Care FSA Dependent Care Eligible Expenses

FAQ for Dependent Care 

Q.  If I do not use all of my Dependent Care funds at the end of the plan year, do I lose that money?

A.  Dependent Care acts differently than the traditional or limited flex plans.  You are only able to be reimbursed up to the amount you have in the account, and funds are placed into that account on every paycheck.  Traditional/Limited flex accounts front 100% of the money on the first day of the plan year.

Q. What qualifies as an eligible expense?

A. Charges for daycare services outside your home for a “qualifying child” who is under the age of 13 and who depends on you (and your spouse, if you are married) for at least half of his/her support, does not have his/her own dependents, and is not a “qualifying child” of any other taxpayer during the year.