Want to save money while lowering your taxable income?
Monkey Sports offers the following Flexible Spending Account (FSA) plans through WEX Health Benefits. The Flexible Spending Account plans are available for employees enrolled in Blue Cross Blue Shield PPO plans or if you are waiving coverage. Employees enrolling in the High Deductible Health Plan should review details on the Health Savings Account (HSA) on page 5.
| Health Care FSA | Dependent Care FSA | |
|---|---|---|
| How Much You Can Contribute | Up to $3,200 | Up to $5,000 ($2,500 if married and filing taxes separately) |
| What You Can Use the Funds For | Medical, Rx, dental and vision expenses for you and your dependents | Childcare expenses for children under 13 and elder care expenses |
| When Funds Are Available | Immediately | Can only be reimbursed up to what you have had payroll deducted (pay as you go) |
| How To Access Your Account Dollars | Pay with your WEX FSA debit card | File claims for reimbursement |
| What happens to Unused money | Up to $500 may roll over to the following year if you are employed on 12/31 | You lose money you don’t use by end of plan year (Use it or Lose it) |
| When to Use Funds | By December 31, 2024 | By December 31, 2024 |
| When to Submit Claims | By March 31, 2025 | By March 31, 2025 |
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