Mansfield University Home PageMansfield University Daily Digest
Why are you paying more taxes than you need to?
Posted by Carmen Wood for November 6, 2009
A Flexible Spending Account (FSA) can save you up to hundreds of dollars each year on qualified medical and dependent care expenses. It is an IRS-approved account that you fund with pre-tax dollars, taken incrementally from each of your paychecks. When you incur eligible expenses, simply submit a claim and receive reimbursement.
You can enroll in a Medical Reimbursement FSA and/or a Dependent Care Reimbursement FSA. A Medical Reimbursement FSA is used to pay for eligible medical expenses for you and your eligible dependents (including office visit co-pays, eyeglasses and cold medications), while a Dependent Care Reimbursement FSA can pay for eligible dependent care expenses (such as daycare, after-school care and eldercare).
Visit http://www.myFBMC.com and use the tax calculator. You’ll see how just a few dollars per paycheck can maximize your tax savings.
Learn about new enhancements to the 2010 program including the use of debit cards and ESS enrollment at one of the following presentations in Alumni Hall Room 317:
Friday, November 6th at 11:00 am
Tuesday, November 10th at 2:30 pm
Open enrollment ends November 13, 2009. Don’t miss your chance to save money on your Medical and Dependent Care expenses!