Now is the time to start thinking about Flexible Spending Accounts (FSA) for 2017. Employees can put aside pre-tax dollars up to $2,600 in a healthcare FSA and up to $5,000 in a dependent day care FSA. These accounts can be used to pay unreimbursed expenses for healthcare and dependent care related expenses.
If you contributed to a healthcare or dependent care FSA in 2016, and would like to have these accounts in 2017, you will need to re-enroll. Your healthcare FSA unused balance from $10 up to $500 will automatically carry over to your 2017 FSA balance, and it will not count toward the $2,600 limit.
Additional information can be obtained by going to www.wageworks.com.
Signing up for these accounts is easy:
- Login to your Workday account with your Argonne username and password.
- Click on the Inbox Item and follow the prompts to make your elections.