Flexible Spending Arrangement
The King's Academy is pleased to provide the following Flexible Spending Arrangement tax savings plan to all of our benefit eligible employees:
Company Code = tka
Username = Your SSN
Password = Your current zip code, then the system will prompt you to set a new password
TKA is pleased to provide the following Flexible Spending Account (FSA) to all of our benefit eligible employees:
Before each plan year you will be given an opportunity to enroll in a flexible spending account which enables employees to use pre-tax earnings to pay for out-of-pocket medical expenses, such as deductibles and coinsurance, (but not payroll contributions for premiums, as they are already deducted pre-tax). These accounts also allow you to use pre-tax earnings to pay for daycare providers for eligible dependent children and disabled adults (i.e., spouse and parent) who require care when the employee works.
You must plan carefully when determining your contribution to this account especially if you also are enrolled in the HSA plan. Any funds that remain unused at the end of the plan year will be forfeited. You are only eligible to change your contribution amount if you have a family status change. The calendar year plan allows for the following maximum contributions: Medical $3,200, Dependent Care $5,000.
Reimbursements
Grace Period - You have until December 15th each year to incur claims from the prior year FSA and until January 31st to submit claims for reimbursement requests for the previous year.
Also keep in mind that if you terminate your employment during the year, you can only submit claims incurred up to the date of termination (unless you continue coverage through COBRA).
Any unused funds remaining in your account at the end of the grace period will not be refunded to you.
Benefit Resource, Inc.
(800) 473-9595
Contact Email: [email protected]
Commuter FSA