Flexible Spending Accounts
Cafateria Plan
The flexible spending accounts allow participants to set aside pretax dollars for qualifying medical and/or dependent care expenses. Funds directed to either or both accounts are not subject to FICA, Medicare, state or federal income taxes. Claims for reimbursement must be submitted no later than 90 days following the end of the Plan Year (January 1 - December 31 annually effective January 2001). Money remaining in either account must be used prior to the end of the Plan Year or it will be forfeited. For this reason, accounts should be funded wisely.