2016-2017 Flex Plan Open Enrollment Information

You can enroll in Puyallup School District’s Flexible Spending benefits plan online between 9/2-9/30/2016. Online enrollment provides a more efficient way to process your forms through the Payroll department and with our Flex Plan Administrator. Remember that FSA elections need to be made every year to continue participation!

 IMPORTANT!!!  2016-17 FSA PLAN CHANGES

 The FSA plan year is moving from an October 1st  effective date to a January 1st  effective date. Before the January 1st  change, we will have a short plan year from October 1st through December 31st. Therefore, this year we will have two open enrollment periods for the FSA:

  • The first open enrollment period will be from September 2nd to September 30th for the short FSA period that is effective October 1st through December 31st, 2016. You can elect a maximum of $637.50 into a Healthcare FSA and a maximum of $1,250 into a Dependent Care FSA. 
  • The second open enrollment period will be from November 15th to December 15th for the full FSA plan year that is effective January 1st through December 31st, 2017. You can elect the full IRS maximum of $2,550 into a Healthcare FSA and the full IRS maximum of $5,000 into a Dependent Care FSA. 

Remember that you can still file claims incurred during the current plan year (October 1st, 2015 to September 30th, 2016) during the 90 day claim run-out period from October 1st through December 31st, 2016. The claims run-out period for the short FSA period will run from January 1st, 2017 through March 31st, 2017. If you have a carryover balance (to a maximum of $500) in your Health FSA from the current plan year, it will be available in mid-January during the short FSA claims run-out period. If you have a carryover balance (to a maximum of $500) from the short plan year, it will be available in mid-April, during the full FSA plan year.

 Note: Any carryover funds from the current plan year will be added to your unused funds elected during the short plan year. If this combined carryover balance is greater than $500, those amounts will not be returned to you. Because of this, you should carefully determine what you may need during the short FSA period.

Please evaluate your needs during this change and we will assist the best we can to make sure that during this change, it is a smooth transition.

The FSA plans will continue thereafter from January 1st to December 31st with a 60 day claim run-out period and any carryover balance up to $500 in your Health FSA will be available by mid-March for any given year.

Where can I go if I have questions?

If you have any questions or concerns, please stop by the benefits fair at Ferrucci Junior High held on September 20th from 3-6 pm.

What is a Flexible Spending Account and what can it be used for?  

A Flexible Spending Account (FSA) allows you to set money aside, up to $2,550, deducted pre-tax from your paycheck, into an account to reimburse you for qualified expenses. These expenses include medical, dental, and vision for yourself and your eligible dependents that are not reimbursed from insurance or any other source. The money you put into your account is not considered taxable income, allowing you to save money by paying less Federal, State and FICA taxes. Examples of eligible expenses include: prescription medicines and drugs, hearing aids, orthopedic goods, prosthetic devices, doctors, dentists, orthodontics, osteopaths, chiropractors, optometrists, ophthalmologists, opticians, and eyeglasses.

Example of Tax Savings:

 

No FSA

FSA

Annual Income

$30,000

$30,000

FSA Contributions

$0

$1,000

Taxable Pay (Based on 30%)

$30,000

$29,000

Minus Taxes

$9,000

$8,700

Take Home Pay

$21,000

$20,300

Minus (Medical/Dental/Vision/Costs)

$1,000

$0

Total Take Home Pay

$20,000

$20,300

What You Saved

$0

$300