How to enroll
Your employer may ask you to fill out your FSA elections in an employee benefits system, or you may be provided a form to fill out for enrollment. If you need the FSA enrollment form, you can find one at the bottom of this page.
Determining your election amount
When you choose an FSA, you will be required to indicate the amount you want to set aside for this year. The IRS sets limits on how much you can contribute to an FSA each year.
|Maximum contribution limit||$2,700||not yet announced|
Keep the following in mind:
- Your entire election amount is available to you at the start of the plan year, even if you haven't contributed funds from your paycheck yet. This means that if you have medical expenses early on, you can use your funds in advance to pay for them.
- Any unused funds in your account at the end of the plan year will be forfeited, unless your plan has a rollover option. In this case, up to $500 can be rolled forward. Talk to your employer or benefits administrator to see if this is available to you.
- You cannot change your election amount throughout the year, unless there has been a qualifying life event.