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Flexible Spending Account
City of Plattsburgh Flexible Spending
| Plan Name: | City of Plattsburgh Flexible Spending |
| Description: | A Flexible Spending Account is an employee benefit plan established under IRC Section 125 that allows you to pay for everyday health care and/or dependent care expenses with pre-tax dollars. |
| Start Date - End Date: | 01/01/2014 - 01/01/2015 |
| Group Number: | N/A |
| Carrier: | EBS/RMSCO |
| COP Flexible Spending Example | FSA Plan | No FSA Plan |
| Annual Income (before taxes) | $24,000 | $24,000 |
| Pre-Tax Health Care Contribution | -$1,500 | $0 |
| Pre-Tax Dependent Care Contribution | -$4,000 | $0 |
| Taxable Income | $18,500 | $24,000 |
| Estimated Taxes (25% Federal) | -$4,625 | -$6,000 |
| Health Care Expenses | $0 | -$1,500 |
| Dependent Care Expenses | $0 | -$,4000 |
| Available Income | $13,875 | $12,500 |
| Estimated Savings | $1,375 |
Full-time employees who have met their new hire eligibility.
| Title/Department: | Client Account Manager |
| First Name: | Julie |
| Last Name: | Lalonde |
| Phone: | 716-213-1821 |
| E-mail: | julie.lalonde@ebsrmsco.com |
Disclaimer: Every effort has been made to ensure that the information in this summary is accurate; however no warranty of complete accuracy is made. If a discrepancy is found between this summary and the benefits you selected or the Summary Plan Description (SPD), your selections and the provisions of the SPD will govern.