Flexible Spending Accounts

Flexible Spending Accounts (FSA) help you save money by allowing you to use pre-tax dollars to pay for eligible expenses. Participants save an average of 30% on eligible expenses. The Health Care FSA can be used for eligible medical expenses. The Dependent Care FSA can be used for eligible child and dependent care expenses (daycare).

Benefit eligible employees have the option to enroll in these FSAs during Open Enrollment each year in October or after a qualifying life event. Active enrollment is required each year.

The MCC Flexible Spending Accounts are administered by HealthEquity. The HealthEquity Member Services team is available by call or chat 24/7 every day of the year.

• Phone: 866-346-5800
• Website: HealthEquity (to access your account information)
• Go mobile and download app: HealthEquity for iOS or Android

Learn more about FSAs by visiting learn.healthequity.com/mcc

Health Care Flexible Spending Account

Health Care Flexible Spending Account (often referred to as FSA) allows you to pay for eligible medical, dental and vision expenses such as copays, deductibles and coinsurance, and services that are not covered by a health plan. Please be aware that services, medications and devices that are excluded from the MCC medical plans are not eligible under the MCC Flexible Spending Account (example: birth control).

Annual Maximum Contributions

2024

• $3,050 maximum contribution
• $610 maximum carry-over from 2023 to 2024
• $640 maximum carry-over from 2024 to 2025

Plan carefully. At the end of the plan year, any unused funds greater than the maximum allowed rollover amount will be forfeited. ¹

Forms

• Learn about HealthEquity FSAs
• Flexible Spending Account (with carryover)
• Flexible Spending Account Reimbursement Form

Dependent Care Flexible Spending Account

Dependent Care Flexible Spending Account allows you to pay for eligible dependent care expenses. A qualifying dependent may be child under age 13, a disabled spouse, or an older parent in eldercare.

Annual Maximum Contributions

2024

$5,000 when filing income taxes jointly, and $2,500 when filing individually.

Plan Carefully. At the end of the year, any unused will be forfeited. Rollovers for Dependent Care FSAs are not allowed per IRS.

Forms

• What is a Dependent Care Reimbursement Account?
• Dependent Care FSA: Take Care of Your Loved Ones and Unlock Amazing Tax Savings
• Dependent Care Reimbursement Account Reimbursement Form

Important FSA Deadlines

• Deadline to incur eligible expenses: December 31
• Deadline to submit request for reimbursement: March 31

If you terminate employment or lose benefit eligibility during the plan year:

• Deadline for incurring eligible expenses is the last day of the month in which you leave employment.
• Deadline for submitting request for reimbursement is 90 days from date participation ends.

• Forfeited funds are used to pay the administrative cost of providing this plan.⇧