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FORT WORTH BENEFIT GUIDE EFFECTIVE: 09/01/2016 8/31/2017 www.mybenefitshub.com/fortworthisd1Table of Contents Benefit Contact Information How to Enroll Annual Benefit Enrollment 1. Benefit Updates
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What is spending account fsa?
A Flexible Spending Account (FSA) is a tax-advantaged account where employees can contribute a portion of their salary to pay for qualified medical expenses.
Who is required to file spending account fsa?
Employees who are offered an FSA benefit by their employer are typically required to enroll and participate in the program.
How to fill out spending account fsa?
Employees can typically fill out their FSA enrollment forms during their company's open enrollment period or when they first become eligible for benefits.
What is the purpose of spending account fsa?
The purpose of an FSA is to allow employees to set aside pre-tax dollars to pay for qualified medical expenses, reducing their taxable income and saving money on healthcare costs.
What information must be reported on spending account fsa?
Employees must report the amount they wish to contribute to their FSA from their salary and keep track of their qualified medical expenses for reimbursement.
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