Section 125 Flexible Spending Accounts (FSA)
Use your FSA to pay for certain out-of-pocket health and dependent care costs. You don't pay taxes on this money which mean you'll save an amount equal to the taxes you would have paid on the money you set aside, annual enrollment is required. Planning the right amount of dollars is important since unused dollars are forfeited at the end of the year. To learn more including the most up to date list of eligible expenses for reimbursement, visit the Advanced Benefit Services (ABS) website: www.abs125.com
2024 Maximum Contribution Limits: Healthcare $3,200/Dependent Care $5,000
Important Forms
- Advanced Benefit Strategies (ABS): https://www.abs125.com/portal/employees/
- Eligible and Ineligible Expenses: https://www.abs125.com/wp-content/uploads/Std-EB-FSA-HRA-Eligible-Ineligible-Sell-Sheet-CHC-010-102810.pdf
- Claim Form: https://www.abs125.com/wp-content/uploads/2018/07/Pre-Tax-Program-Reimbursement-form-v6-writeable.pdf
- Direct Deposit for Reimbursements: https://www.abs125.com/forms/Direct_Deposit_Authorization_Post_Enrollment_Writeable.pdf
FAQs
https://www.abs125.com/frequently-asked-questions/
FY25 Flexible Spending Account (FSA)