are a Maxon Flexible Spending Account Client click the following links
for Access to your Account.
EMPLOYER | EMPLOYEE
Flexible Spending Accounts?
spending accounts are a tax-advantaged way to pay for qualified out-of-pocket
health care expenses, and work-related day care expenses. This benefit
allows you to pay your expenses with “pre-tax” dollars,
which means you get a tax deduction for these expenses before you ever
file your tax return. As you incur health care expenses or dependent
day care expenses throughout the year, you submit a claim for those
expenses and are reimbursed with tax-free dollars from your account.
Care Account reimburses you for out-of-pocket health care expenses
for medical, dental, vision, hearing and pharmaceutical expenses. The
Dependent Care Account reimburses you for dependent day care expenses
you incur in order to allow you and, if married, your spouse to work.
When you use these accounts, you reduce your taxable income, so you
will pay less in income taxes.
estimate the amount you will spend on out-of-pocket health care
expenses and/or day care expenses during the year. Estimate conservatively,
and review last year’s expenses to help you determine what
to anticipate for this year. Plan only for predictable expenses.
decide how much you wish to set aside into your Health Care Account
and/or your Dependent Care Account. Then, complete the necessary
enrollment forms provided by your employer.
you wish to set aside into your accounts will come out of your
paycheck in equal amounts on a schedule established by your employer.
As you incur
health care or day care expenses throughout the year, you submit a
claim form along with documentation of your expenses. Reimbursements
from your accounts are made on a schedule determined by your employer,
and you may file claims as often as you wish.
are made by check sent to your home address.
employer has enabled debit card administration, you simply swipe
your card at eligible retailers, for example pharmacies or doctors’ offices.
account balance that is not used by the claims filing deadline will
be forfeited. You can avoid forfeitures if you plan carefully (review
last year’s expenses to estimate what you will have this year.)