Flexible Spending Accounts (FSAs)

FSAs provide an important tax advantage that can help you pay health care and dependent care expenses on a pre-tax basis. By anticipating your family’s health care and dependent care costs for the next year, you can actually lower your taxable income and reduce your taxes.

Health Care Reimbursement FSA

This program lets Wunderlich-Malec employees use pre-tax dollars to pay for certain IRS-approved medical care expenses not covered by their insurance plan. The annual maximum amount you may contribute to the Health Care Reimbursement is $6,000 per plan year. Some examples include:

• Hearing services, including hearing aids and batteries
• Vision services, including contact lenses, contact lens solution, eye examinations and eyeglasses
• Dental services and orthodontia
• Chiropractic services
• Acupuncture
• Prescriptions, contraceptives, certain over-the-counter drugs

Dependent Care FSA

The Dependent Care FSA lets Wunderlich-Malec employees use pre-tax dollars to pay for qualified dependent care, such as caring for elders or children under the age of 13. The annual maximum amount you may contribute to the Dependent Care FSA is $5,000 per calendar year ($2,500 if you’re married and filing separately). Examples include:

• The cost of child or adult dependent care
• The cost for an individual to provide care either in or out of your house
• Nursery schools and preschools (excluding kindergarten)