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2024 Benefits Guide - Premium

Flexible Spending Accounts (FSA)

One of the best ways to maximize your paycheck is to save pre-tax money for qualified expenses with an FSA. FSAs help you save money on healthcare, dependent care and commuter expenses by paying for eligible expenses with tax-free dollars.

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Image 1 Enrollment &
Eligibility
Image 2 Medical Plans
Image 3 Dental & Vision
Image 4 FSA
Image 1 Retirement
Planning
Image 2 Additional
Benefits
Image 3 Key Contacts &
Terms
Image 4 Important
Notices

Healthcare FSA

The Healthcare FSA lets you set aside pre-tax funds via payroll deductions. You can use the money to reimburse yourself for eligible medical, dental and vision expenses. In 2023, you can contribute up to $1,500. Any funds left in the Healthcare FSA on December 31st of each plan year will be forfeited, except for balances up to $610 that can be carried over into the next plan year.

 

Check Out All Eligible Expenses

How's It Work?

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Determine your estimated FSA limit

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Establish your (pre-tax) deductions

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Use your FSA debit card or submit receipts

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Roll over up to $610 in FSA funds to the next year

Dependant Care FSA

A Dependent Care FSA can be used to pay for eligible expenses you incur for childcare, or for the care of a disabled dependent, while you work. Employees may defer up to $5,000 pre-tax per year.

Funds do not roll-over to the next year. 

How's It Work?

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Determine your estimated FSA limit

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Establish your (pre-tax) deductions

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Use your FSA debit card or submit receipts

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Use it or lose it! FSA funds don’t rollover

Commuter FSA

TCWGlobal’s Commuter FSA benefit is a great way to save on your daily commute to work! With a Commuter FSA you can put aside up to $300 per month pre-tax for mass transit and up to $300 per month for parking.

A Few FSA Rules

  • If you or one of your dependents are enrolled in a high deductible health plan and/or have an HSA, you may not be eligible for Health Care FSA.

  • Health and/or Dependent Care FSA claims may be submitted up to 60 days following your termination date; however, the dates of service on all claims must be prior to your date of termination.

  • It’s important to carefully estimate your annual contributions, the IRS requires that you forfeit any unclaimed funds in your account(s) above the $640 rollover (the “use it or lose it” rule).

  • Save a copy of your receipt until the claim is approved.

Check Out the Full Benefits Guide

Benefits Guide
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