Flexible Spending Accounthr.fhda.edu/_downloads/FSA DCA PPT.pdf · • Pre-tax account that pays...
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1 © 2014-2016 WageWorks, Inc. All rights reserved. This document contains proprietary and/or confidential work product that belongs to WageWorks, Inc. and may not be used, reproduced, modified, displayed or distributed without the prior written consent of WageWorks, Inc. ® Dependent Care FSA Flexible Spending Account
Transcript of Flexible Spending Accounthr.fhda.edu/_downloads/FSA DCA PPT.pdf · • Pre-tax account that pays...
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©2014-2016WageWorks,Inc.Allrightsreserved.Thisdocumentcontainsproprietaryand/orconfidentialworkproductthatbelongstoWageWorks,Inc.andmaynotbeused,reproduced,modified,displayedordistributedwithoutthepriorwrittenconsentofWageWorks,Inc.
®
DependentCareFSAFlexibleSpendingAccount
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©2014-2016WageWorks,Inc.Allrightsreserved.Thisdocumentcontainsproprietaryand/orconfidentialworkproductthatbelongstoWageWorks,Inc.andmaynotbeused,reproduced,modified,displayedordistributedwithoutthepriorwrittenconsentofWageWorks,Inc.
®
WhatisaDependentCareFSA?
• Pre-tax accountthatpaysforeligibledependentcareexpenseswhileyouwork:§ Preschoolorbefore/afterschoolprograms§ Summerdaycamp§ Elderdaycare
• Smart,simplewaytosavemoney whiletakingcareoflovedonessoyoucanwork
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©2014-2016WageWorks,Inc.Allrightsreserved.Thisdocumentcontainsproprietaryand/orconfidentialworkproductthatbelongstoWageWorks,Inc.andmaynotbeused,reproduced,modified,displayedordistributedwithoutthepriorwrittenconsentofWageWorks,Inc.
®
WhyYouNeedIt
• Saveanaverageof30% onthedependentcareyouneed
• Reduceyouroveralltaxburdensincefundsarewithdrawnfromyourpaycheckbeforetaxesarededucted
• Takeadvantageofseveralconvenient,no-hassle paymentandreimbursementoptions
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©2014-2016WageWorks,Inc.Allrightsreserved.Thisdocumentcontainsproprietaryand/orconfidentialworkproductthatbelongstoWageWorks,Inc.andmaynotbeused,reproduced,modified,displayedordistributedwithoutthepriorwrittenconsentofWageWorks,Inc.
®
HowItWorks
① Determinehowmuchtocontribute§ Estimatehowmuchyou’llneed§ Electhowmuchtocontribute
② Fundsaretakenfromyourpaycheckbeforetaxes
③ Startsavinguptohundreds ofdollarsinoneyear§ Savingsresultfromloweroveralltaxes
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©2014-2016WageWorks,Inc.Allrightsreserved.Thisdocumentcontainsproprietaryand/orconfidentialworkproductthatbelongstoWageWorks,Inc.andmaynotbeused,reproduced,modified,displayedordistributedwithoutthepriorwrittenconsentofWageWorks,Inc.
®
HowYouUseIt
• PayMyProvider§ Directlypayyourproviderinstantly,directly,andonline
• PayMeBack§ Getreimbursedquicklyforpaymentsyoumake
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©2014-2016WageWorks,Inc.Allrightsreserved.Thisdocumentcontainsproprietaryand/orconfidentialworkproductthatbelongstoWageWorks,Inc.andmaynotbeused,reproduced,modified,displayedordistributedwithoutthepriorwrittenconsentofWageWorks,Inc.
®
WhoQualifies?
Qualifyingdependentsinclude:• Dependent child* undertheageof
13wholiveswithyouformore thanhalfoftheyear;or
• Aspouseorothertaxdependentwhoresides inthehouseaminimum ofeighthoursadayandrequires assistancewithday-to-dayliving.
*Inthecaseofdivorce,IRSguidelines statethatachildisaqualifieddependentofthe"custodialparent."
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©2014-2016WageWorks,Inc.Allrightsreserved.Thisdocumentcontainsproprietaryand/orconfidentialworkproductthatbelongstoWageWorks,Inc.andmaynotbeused,reproduced,modified,displayedordistributedwithoutthepriorwrittenconsentofWageWorks,Inc.
®
HowYouManageIt
UseWageWorksEZReceipts®• Fileaclaimandgetreimbursedquickly• Viewtransactionsandbenefitaccount
balancesusingasinglelogin• Skipthereceiptandhaveyourprovider
signreceipts usingyourmobiledevice• Receive confirmationemailswhenclaims
arereceived, processed, orpaid• Receive textmessageswhencard
verification isrequired,atransaction isdenied,oraclaimhasbeenprocessed
OronlineatWageWorks.com
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©2014-2016WageWorks,Inc.Allrightsreserved.Thisdocumentcontainsproprietaryand/orconfidentialworkproductthatbelongstoWageWorks,Inc.andmaynotbeused,reproduced,modified,displayedordistributedwithoutthepriorwrittenconsentofWageWorks,Inc.
®
HowMuchYouCanContribute
• Maximumof$5,000§ IRSsetsthecontributions guidelines
• Changestoyourelectionamountcanbemadeonlyifthereisa:§ Changeinlegalmaritalstatus§ Changeinnumberofdependents due
tobirth,adoption,ordeath§ Changeinemployment status§ Changeincostorcoveragecharges
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©2014-2016WageWorks,Inc.Allrightsreserved.Thisdocumentcontainsproprietaryand/orconfidentialworkproductthatbelongstoWageWorks,Inc.andmaynotbeused,reproduced,modified,displayedordistributedwithoutthepriorwrittenconsentofWageWorks,Inc.
®
EligibleExpenses
UseyourDependentCareFSAtopayfor:• Before/afterschoolcare• Aupairservices• Extendeddayprograms• Preschool/nursery
school• Summerdaycamp• Elderdaycare
Ineligibleexpensesinclude:• Overnight camps• Kindergartenor
higher-grade tuition• Non-work-related
daycare• Long-termeldercare
services
Seewww.wageworks.com/mydcfsa formoreinformationoneligibleexpenses
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©2014-2016WageWorks,Inc.Allrightsreserved.Thisdocumentcontainsproprietaryand/orconfidentialworkproductthatbelongstoWageWorks,Inc.andmaynotbeused,reproduced,modified,displayedordistributedwithoutthepriorwrittenconsentofWageWorks,Inc.
®
WhyEnroll?
• Taxsavings
• Widerangeofcoveredexpenses
• Easyaccess
• Flexibleoptions
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®
HowYouGetIt
Enrollonlineorbyphone:• Follow[EmployerName’s]instructions• Visit[Insertemployer’sbenefitsurl]• Orcall[Insertemployerenrollmentphone#]
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©2014-2016WageWorks,Inc.Allrightsreserved.Thisdocumentcontainsproprietaryand/orconfidentialworkproductthatbelongstoWageWorks,Inc.andmaynotbeused,reproduced,modified,displayedordistributedwithoutthepriorwrittenconsentofWageWorks,Inc.
®
©2014WageWorks,Inc.Allrightsreserved.Thisdocumentcontainsproprietaryand/orconfidentialworkproductthatbelongstoWageWorks,Inc.andmaynotbeused,reproduced,modified,displayedordistributedwithoutthepriorwrittenconsentofWageWorks,Inc.
©2014-2016WageWorks,Inc.Allrightsreserved.Thisdocumentcontainsproprietaryand/orconfidentialworkproductthatbelongstoWageWorks,Inc.andmaynotbeused,reproduced,modified,displayedordistributedwithoutthepriorwrittenconsentofWageWorks,Inc.
