We continue to offer health care and dependent care flexible spending accounts (FSAs) for eligible employees*, administered by Alerus, which allow you to pay for eligible health and dependent care expenses with pretax dollars. The Health Care and Dependent Care Flexible Spending Accounts (FSA) allow you to set aside pre-tax dollars to pay for eligible expenses. By contributing to one or both of the Flexible Spending Accounts you reduce your taxable income, so you pay less in taxes — which saves you money.

*Eligible employees are those not subject to seasonal layoff.

Contributions

The election you make during enrollment is your election for the entire plan year. You may change it only if you have a qualifying life event and the change request must be consistent with the event.

You may contribute as follows:

Health Care FSA

• Up to $3,300 annually
• All FSA benefit eligible employees can participate, unless you or your spouse are contributing to an HSA.
• Reimbursements allowed for qualified medical, RX, dental, and vision expenses
• FSA debit cards will be mailed to all participants

Dependent Care FSA

• Up to $5,000 annually
• Limited to $2,500 if you are married and file separate tax returns
• Dependent Care allows employees to use pre-tax dollars to pay for incurred child care expenses (such as: daycare, nanny, after-school care, etc)

How the Plan Works

You must incur your eligible expenses during the plan year — January 1 to December 31. An expense is considered to be incurred when the service is performed, not when you are billed or pay for the service. You do, however, have until March 31st annually to file your claims. Any funds after March 31 unclaimed will be forfeited.