Flexible Spending Accounts are a valuable part of your benefit package and we want to be sure that every participant is maximizing the value of this benefit. Each year during Open Enrollment you will have the opportunity to sign up to participate in a Medical Reimbursement Account and/or Dependent Care of the following Plan Year. You will need to estimate what your out-of-pocket expenses will be for the upcoming Plan Year.
Don't worry INNOVA's representatives are available to help you with determining a reasonable estimate of your out-of-pocket medical and dependent care expenses.
Prior to our consultation, please consider your out-of-pocket expenses in each of the following categories:
- Medical
- Dental
- Vision
- Prescription
- Over-the-Counter Items
- Dependent Day Care
A list of eligible expenses is available under Resources to guide you. Remember to include expenses for your family members even if they are not covered under your employer's medical plan.
When you're ready, we're ready! Complete the flexGuide© Questionnaire, then call us at 1-866-276-2411.
This service is intended to provide a level of guidance and education to participants in order that they may evaluate whether to participate in the Plan and how much to contribute. Guidance should not be construed as advice. Participants are encourage to review detailed tax or tax planning questions with their professional tax advisors. We offer estimates of tax savings based upon generalized conventions; we cannot provide definitive tax calculations. Participants should reflect on our guidance and make decisions as to participation and level of contributions.