Did you know about updating the maximum contribution amount for health care flexible spending account content on your HR Knowledgebase portal?
FSA Health Care Plan Content
On your HR Knowledgebase portal, health care FSA content can include:
- Authored FSA health care plans
- Authored combination FSA dependent care/health care plans
- Content documents (pages)
- Uploads
The topics within authored FSA plans that typically include information about the annual maximum contribution amount are:
- Overview
- Health
- Are there any limits?
We encourage you to review the FSA health care plan content on your HR Knowledgebase portal to ensure that the maximum contribution amounts are current.
This is the case whether your organization's health care FSA plan offers the federal maximum, or a lesser maximum amount.
Also review any content pages and uploads (related SPDs, benefit summaries, etc.) for consistency.
Either update them internally via the Knowledgebase Content Manager (KCM) or send a maintenance request to the HRSD Customer Success team.
FSA Health Care Calculator
If your HR Knowledgebase portal includes the FSA Health Care Calculator, the maximum contribution amount should be updated each year.
Again, this is the case whether your organization's plan health care FSA plan offers the federal maximum, or a lesser maximum amount.
This amount is not updated every year automatically.
We encourage you to contact your HRSD Advisor for information about the following settings in your FSA Health Care Calculator:
- The current maximum contribution amount setting
- The number of pay periods in the calendar year (typically 24, some organizations use 12 or 26)
The correct settings maximize the calculator's usefulness. New employees access it when enrolling in health care benefits. The entire staff pool uses it during open enrollment.
About the FSA Health Care Calculator
If your HR Knowledgebase portal does not include the FSA Health Care Calculator, but does include FSA health care content, consider adding this useful tool for:
- Figuring health care costs for the calendar year
- Determining the amount of pre-tax dollars to contribute to a health care flexible spending account (FSA) per pay period
- Viewing the annual tax savings
Criteria include:
Estimate Expenses:
- Medical, dental, vision deductible and copays
- Medical expenses not covered by your health plan
- Prescription expenses not covered by your health plan
- Dental/orthopedic care expenses not covered by your health plan
- Vision care expenses not covered by your vision plan
- Medical equipment and other non-reimbursed medical expenses
Pay Periods and Taxes:
- Pay periods per year
- Federal tax bracket
Results include:
- Deduction per pay period
- Estimated annual tax savings
Locations for the FSA Health Care Calculator
The FSA Health Care Calculator typically appears:
- On the Calculators landing page
- On the Health & Wellness landing page
The FSA Health Care Calculator can appear in the following locations:
- Calculators landing page
- Two additional landing pages or Life Events pages (or one of each)
- On content pages in a link list
For additional details about the FSA Health Care Calculator, please see V11 KB: About the FSA Health Care Calculator.
For questions or more information, contact your HRSD Advisor (Customer Success Manager (CSM)).
