Flexible Spending Account
Chard-Snyder is our Flexible Spending Account administrator. Flexible Spending Accounts allow you to set aside pre-tax dollars to pay for eligible health and day care expenses. This tax savings provides more spendable income. Two separate accounts are available: health care or dependent care. You may enroll in either or both, or you may choose not to enroll at all. To view details on eligible expenses visit http://www.chard-snyder.com/eligible-expenses/healthcare-eligible-expenses.html.
For 2013, the maximum annual employee contribution limit for a Health Care Flexible Spending Account (FSA) is $2,500 due to health care reform law. If you waive health insurance and have your university waiver contribution allocated to a health care flexible spending account, this does not affect the $2500 annual limit.
If you waive health insurance and you want your waiver dollars in a dependent care account, you must enroll in a Dependent Care Flexible Spending Account.
PLEASE NOTE: Save your receipts. Chard-Snyder may ask for copies of supporting documentation for a Benny Card transaction to ensure a participant is compliant with the IRS regulations that govern flexible spending accounts.
For questions about Flexible Spending Accounts, please call Chard-Snyder at 1-800-982-7715 or visit www.chard-snyder.com.