Claims for Flexible Spending Accounts (FSA) Funds due by April 30
April 18, 2018
Flexible spending accounts (FSA) are IRS defined, U.S. tax sheltered employee funded accounts that allow employees to deduct money via payroll deduction for certain health or dependent daycare expenses. The total maximum allowable deferral amount for 2017 Flexible Spending Accounts (FSA) is $2,550. There is a separate $5,000 amount allowed for Dependent Daycare Accounts.
Flight Attendants who elected to contribute funds to their Flexible Spending accounts in 2017 are reminded that these funds must be claimed by April 30, 2018 or the funds are forfeited.
Any unused account balances remaining at the close of the plan year are returned to participating Flight Attendants in an IRS approved manner as selected by the Union prior to the next election period.