What is a Flexible Spending Account?
A flexible spending account (FSA) is a plan designed to help you
manage the rising costs of health care by allowing you to set aside
money to pay for out-of-pocket medical expenses. You can think of it as a
personal savings account just for health care expenses.
You set aside money on a pre-tax basis - this means as long as you use the money for qualified medical expenses, you won't pay income taxes on it. View a list of qualified medical expenses or use our Election Worksheet to estimate your health care costs.
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Increase Your Take-Home Pay
Paying fewer taxes means you keep more of the money you make. In the
example below, Jane estimates she will spend $2,400 on medical expenses
for herself next year. Here's how she can save with an FSA:
How Does it Work?
Participating in a Surency AdvantagePlus FSA is easy.
1. Once you've enrolled and set your annual election amount, that
amount will be automatically deducted from your paycheck in equal
increments throughout the year before you pay federal, state and FICA
taxes on the designated amount.
2. When you are ready to use the money in your FSA for a qualified medical expense, just swipe your Surency AdvantagePlus Benefits Card.
If you don't have a Surency AdvantagePlus Benefits Card, or you prefer
to pay upfront then be reimbursed, you can file a claim electronically
from the Member Login and you will be reimbursed with money from your FSA, as long as you have funds available.
3. To avoid forfeiting any money, make sure all funds in your FSA are used by the end of the year.
How to Use the Member Login
Managing your Surency AdvantagePlus FSA through the Member Login is easy.
Visit our Frequently Asked Questions page for answers.
The savings amounts in the example above are provided by Surency for illustrative purposes only. You may save more or less based on your own tax situation. Some states do not recognize these tax exclusions for this program. No part of this website is tax, financial or legal advice. You should consult your own legal and tax advisers regarding your personal situation and whether this is the right program for you.