How does the health FSA work?

You select the amount that you would like to put into your health FSA account based on your needs for the coming plan year. Chard Snyder and your employer will let you know the maximum amount allowed. You will contribute to your account through payroll deductions. The amount depends on how much you have elected to put into the account and the number of paychecks you receive in a year. Remember, you are saving 25-40% right away because the money comes from your paycheck before taxes are taken out.

The full amount you choose will be available for you to use for eligible expenses on the first day of the plan year.

You may use your Chard Snyder Benefits Card if your plan allows or pay for eligible healthcare expenses and then submit a claim for reimbursement. Save all of your receipts with your tax records in case we need to verify that the expense is eligible, or you are audited by the IRS. 

Make sure to review the details of your specific plan so you know your spending and claim filing deadlines.