Benefit Strategies administers the FSA plan. The current Health Care FSA annual election limit is $2,650 (increasing to $2,700 beginning January 1, 2020). The Dependent Care FSA limit will not change and will remain $5,000 (limit is $2,500 if you are married filing jointly). The annual FSA limits are governed by IRS.
In order to participate in the FSA program, you must re-enroll each year during open enrollment. The 2020 plan year will end March 15, 2021. Your eligible expenses must be incurred from January 1, 2020 through March 15, 2021 and submitted for reimbursement by March 31, 2021.
To find out more about the Flexible Spending Accounts and eligible expenses, go to www.benstrat.com.