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KENYON COLLEGE GAMBIER OH Flexible Spending Summary Plan Description 767003411216 Revised 07012023BENEFITS ADMINISTERED BYTable of Contents INTRODUCTION ................................................................................................................................................
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01
To fill out a flexible spending accounts summary, follow these steps:
02
Obtain the flexible spending accounts summary form from your employer or healthcare provider.
03
Fill in your personal information, including your name, address, and employee identification number.
04
Provide the details of your flexible spending accounts, including the types of expenses covered, the amount contributed, and the amount used.
05
Include any supporting documentation, such as receipts or statements, to validate your expenses.
06
Review the completed form for accuracy and completeness.
07
Sign and date the form.
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Submit the form to your employer or healthcare provider by the specified deadline.
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Keep a copy of the filled-out form for your records.

Who needs flexible spending accounts summary?

01
Flexible spending accounts summary is needed by individuals who have a flexible spending account (FSA) through their employer or healthcare provider.
02
FSAs are typically offered as part of employee benefits packages and allow individuals to set aside pre-tax dollars for eligible healthcare or dependent care expenses.
03
The summary helps individuals track and report their expenses throughout the year, ensuring they comply with FSA guidelines and maximize their tax savings.
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A flexible spending accounts (FSA) summary is a document that provides an overview of funds contributed, spent, and remaining in an employee's flexible spending account, which allows employees to use pre-tax dollars for medical and dependent care expenses.
Employees who have participated in flexible spending accounts during the tax year are typically required to file a summary to report their contributions and expenditures to their employer or for their tax records.
To fill out a flexible spending accounts summary, gather your FSA statements, list all contributions made and expenditures incurred during the plan year, and input this information in the specified format required by your employer or tax authority.
The purpose of the flexible spending accounts summary is to provide a clear record of the contributions to and withdrawals from the account, ensuring proper reimbursement and facilitating tax reporting.
The summary must report total contributions, total reimbursements, the remaining balance, and any applicable dates related to expenditures.
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