At least your FSA is easy and painless.
What will you do with the money you saved?
Need an easy way to save money? Each year during Open Enrollment—Nov. 1–15—you can enroll in a Flexible Spending Account (FSA). You’ll set aside pretax dollars from your paycheck, then use it to pay for eligible health care or dependent care expenses. Since you’re not paying federal or FICA taxes on your FSA money, you get a huge tax savings!
These features make it simple:
- Pay for health expenses using an FSA debit card.
- Access and manage FSA benefits using the MyNavia smartphone app.
- Use the tools and resources—including a Tax Savings Calculator—at com.
- Carry over up to $500 into next year’s health care FSA.
Health care FSA: Enroll to set aside up to $2,650 pretax, and use it to pay for certain expenses not covered by your health plans, for example:
- Copays, coinsurance & deductibles
- Laser eye surgery
- Bandages, crutches & sunscreen
- Eyeglasses & hearing aids
- Insole/shoe inserts and orthotics
- Mileage, parking & transportation to medical appointments
Dependent care FSA: Enroll to set aside up to $5,000 pretax to pay for eligible day care services for your child under age 13, disabled spouse, or dependent parent while you and your spouse work.
For additional information, go to: kingcounty.gov/fsa. Then decide what to do with the money you’re going to save.