| Participation
in a Flexible Spending Account may save you taxes, however,
you need to calculate your expenses carefully so you do
not have to forfeit any of your money.
Even if you have decided that the tax savings you will realize
from a Flexible Spending Account make it worthwhile for
you, answer the following questions before you enroll:
- Are
you fully aware that you will not be able to sign a new
form or change your deduction amount during 2006 unless
you have a qualified family status change and that any coverage
change must be consistent with the status change?
- Are
you sure that the expenses you used in your calculations
are eligible for reimbursement?
- Have
you been conservative in calculating the amount of predictable
expenses that you will have for health care and/or dependent
care?
- Have
you determined whether it is better to claim the dependent
care expenses on your income tax return or as reimbursements
from your Flexible Spending Account?
Questions?
If you have any questions, call the HR/Payroll Service Center
at 734-615-2000 or toll-free at 1-866-647-7657 for assistance.
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