Atlantis offers two flexible spending account (FSA) options, which allow you to pay for eligible expenses with before-tax dollars.
You will have the opportunity to elect one or both of these options during the annual open enrollment, to be effective January 1 each year. These FSA options cannot be elected at any other time during the year.
- Health care FSA: Eligible expenses include deductibles, copays, and other health-related expenses that are not paid by the medical, dental, or vision plans for reimbursement. Your annual election is divided by the number of pay periods each year and deducted evenly from each paycheck. The maximum health care FSA contribution is $3,200. You have a 2 month and 15 day grace period after the plan year ends to use up your health care FSA funds before they are forfeited. If you do not use up all of your health care FSA funds during the plan year, or within the 2 month and 15 day grace period immediately following the end of the plan year, you will lose any health care FSA funds left in your account.
- Dependent care FSA: Eligible expenses include day care facility fees, before- and after-school care, and in-home babysitting fees (income must be reported by your care provider). Your annual election is divided by the number of pay periods each year and deducted evenly from each paycheck. You may contribute up to $5,000 a year for individuals or married couples filing jointly, or $2,500 for a married person filing separately.