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Cannon University Flexible Spending Accounts FSA Employee OverviewPlan Dates April 1, 2021, to March 31, 2022, Prepared By:401 Cranberry Street, Suite 100 Erie, PA 16507 Telephone: (814) 4534357 Fax:
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How to fill out flexible spending plan

01
Start by evaluating your monthly expenses including bills, groceries, transportation, and other necessities.
02
Determine how much you can afford to contribute to your flexible spending account each pay period.
03
Enroll in your employer's flexible spending plan and set up automatic contributions from your paycheck.
04
Keep track of your expenses and receipts throughout the year to ensure you are staying within your budget.
05
Submit claims for eligible expenses to be reimbursed from your flexible spending account.

Who needs flexible spending plan?

01
Individuals who have predictable medical expenses such as prescription medications, dental care, or vision care.
02
Those who want to save money on health and dependent care expenses by using pre-tax dollars.
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A flexible spending plan is a benefit program that allows employees to deduct pre-tax dollars from their paychecks to use for eligible expenses, such as medical or dependent care expenses.
Employees who are eligible for a flexible spending account (FSA) through their employer are required to file a flexible spending plan.
Employees can typically fill out a flexible spending plan during the open enrollment period provided by their employer, or when they experience a qualifying life event.
The purpose of a flexible spending plan is to help employees save money on eligible expenses by using pre-tax dollars from their paychecks.
Employees must report their anticipated expenses for the year, the amount they wish to contribute to their FSA, and any other required information specified by the employer.
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