Flexible Spending Accounts 2023

FlexSpending 2023 Open Enrollment Photo

***Please note:  If you are currently enrolled in a Flex Spending plan for Calendar Year 2022 - your enrollment for 2023 is NOT automatic. You need to re-enroll - either online with Cafeteria Plan Advisors or feel free to stop by HR to fill out a 2023 enrollment form***

**Enrollment for 2023 is now closed**

A Flexible Spending Account (FSA) allows you to pay for certain eligible expenses using pre-tax money. So for every $1000 put aside into an FSA acount (which is a deduction of about $19 per week from your paycheck) you'll save approximately $250 to $300 in taxes per year. 

There are 2 types of FSA accounts: Health Care & Dependent Care.

  • The maximum election for Health Care Accounts is now $3050 per year.
  • The maximum election for Dependent Care Accounts is still $5000 per year.

Health Care expenses include co-pays at doctors' and dentists' offices, prescription co-pays, over-the-counter medications costs, payments for orthodontia, acupuncture and chiropractic visits. Plus prescription glasses (both regular & sunglasses), contact lenses, laser eye surgery, etc. For a more detailed list of what is considered an eligible expense - click here 

Dependent Care expenses include costs for qualified child- or elderly- care. Click here for more information.

**The deadline for enrollment in a 2023 Flex Spending plan is Tuesday, November 22nd**

Enrollment forms can be sent directly to Cafeteria Advisors, or stop by Human Resources and we'll submit it for you.

  • Current enrollees: Keep an eye out for an email from Cafeteria Advisors with instructions for re-enrolling online.

  • New enrollees: Call or email us if you have any questions.

Cafeteria Plan Advisors, Inc

120 Longwater Drive, Suite 102, Norwell, MA 02061

Phone: 781-848-9848 / Fax: 781-848-8477 / Email: info@cpa125.com