Flexible Spending Accounts allow you to set aside money from your paycheck on a before-tax basis to pay for allowable medical, dental, eligible dependent care expenses or other eligible expenses.
According to the Internal Revenue Service code Section 125 and 129, amounts can be deducted from an employee’s pay, pre-tax. This tax advantage benefits the employee, by lowering the amount of payroll taxes paid since amounts deducted pre-tax by employees.
Once an qualified flexible spending expense is incurred participants can submit their FSA reimbursement request to J.P. Farley Corporation for processing.
Questions & Answers about your FSA