Comparison of Benefit Accounts
What is an HSA?
Which FSA plan year account will be used first during the run-out period—the new plan year election or the carryover amount from the current plan?
Any new plan year funds will pay first and the carryover funds will pay second. Employees get the best use of their funds by having the new plan year pay first, and the carryover funds pay second.
Who is a qualified dependent under the Dependent Care FSA?
- Dependent under the age of 13; or
- Dependent or spouse of employee who is mentally or physically disabled and whom the employee claims as a dependent on his or her Federal Income Tax return.