| FSA Contribution Limits |
| Per year, participants may elect to set aside a maximum of $3,300. |
| Tax Savings |
| The average FSA participant saves between 30-40% on the amount set aside pre-tax. (including Federal, State, and Local income taxes and Social Security/Medicare deductions). |
| Flexibility for End of Plan Year |
| $660 Carryover – Any unused funds, up to a maximum of $660 can be carried over from one plan year to the next. |
| Uniform Coverage Rule |
| FSA participants can access the full amount of their annual contribution from the first day of the plan year. For example, if you elect $1,300, and soon after the plan year begins you incur a $1,300 medical bill, you can use all of your elected FSA funds to cover the expense, even though you haven’t paid in your total annual contribution amount yet. Throughout the rest of the plan year, deductions will be taken at the same rate from each paycheck. However, your available FSA balance will be zero once all the funds are spent. |
| Eligible Expenses |
| Visit www.flexplanadmin.com for an interactive list resource. Eligible expenses include medical, dental, vision, prescription, over-the-counter medications and other related expenses. |
| A Dependent Care Assistance Program (DCAP) plan is an employer-sponsored benefit that helps employees pay for the care of a qualified dependent. Each pay period, the employee makes a pre-tax contribution to the DCAP account. After paying for care and filing a claim, the employee receives reimbursement from the DCAP. |
| Qualified Dependents: |
| A Dependent 12 Years Old or Younger, Living with the Employee |
| A Spouse or Other IRS-Recognized Dependent Who is Physically or Mentally Unable to Provide Self-Care |
| Use DCAP to Pay for: |
| (not all eligible items are listed) |
| Daycare, Pre-School or Pre-Kindergarten |
| Before & After School Care (Extended Day) |
| Summer Day Camps (Overnight Camp Does Not Qualify) |
| Adult/Elderly Care Programs |
| Babysitting During Work and/or College Hours |
| Sick Child Care |
| Deposits for Child Care |
| Annual Contribution Limits: |
| $5,000 for Employees Filing Single / Head of Household or Married Joint |
| $2,500 for Employees Filing Married Separate |
| Eligibility: |
| For eligible active employee members only. |
| Only available if Employer group allows this coverage to be offered. |
| Opportunities: |
| OPEH&W Initial Enrollment. |
| OPEH&W Annual Open Enrollment. |
| First Offering from OPEH&W. |
The only non-profit public trust health plan; owned, ran and for Oklahoma's local government organizations.