Flexible Spending Accounts 2017
The benefits detailed on this page are for 2017. For 2018 benefit options, please view 2018 Flexible Spending Accounts page.
Flexible Spending Accounts provide pre-tax dollars to be used toward medical, dental, vision, pharmacy, and daycare expenses. This is a savings to you and adds extra money in your pocket.
Chard-Snyder Contact Information
Mailing:
Chard, Snyder & Associates
3510 Irwin-Simpson Road
Mason, OH 45040
Customer Service: 800-982-7715
Fax: 888-245-8452
Website: www.chard-snyder.com
Health Care Flexible Spending Account
The Health Care (FSA) annual employee contributions are available to use beginning January 1, 2017. You may use these funds for you and your dependents. The maximum annual employee contribution limit for a Health Care Flexible Spending Account (FSA) is $2,550. If you waive health insurance and have university waiver contributions allocated to a Health Care (FSA), this does not affect the $2,550 annual limit.
Dependent Care Flexible Spending Account
The Dependent Care (FSA) annual employee contributions accumulate on a per pay period basis. You may use these funds to reimburse you for dependent child's (under the age of 13) daycare and children's camp expenses. The maximum annual employee and household contribution limit for Dependent Care FSA is $5,000.
How a Flexible Spending Account (FSA) Works
Flexible Spending Accounts have a "Use-it-or-lose-it" provision. Any money deposited in your FSA and not used by the end of the Grace Period which extends to March 15 each year, will be forfeited. During the Grace Period, you can continue to incur claims and use all amounts remaining in your Health Care FSA or your Dependent Care FSA from the previous calendar year. You have a "Run-out Period" which is until April 15 to submit final claims for reimbursement. Find additional information here:
- Grace Period Details
- Learn more about how a FSA works
- FSA participants may access their account here
- Flexible Spending Account (FSA) Claim Form