Flexible Spending

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 You have the option to open a Health Care FSA or Dependent Care FSA provided by Sheakley.

  • A Flexible Spending Account (FSA) allows you to pay eligible out-of-pocket medical and dependent care expenses with pre-tax dollars, reducing your taxable wages and thus, decreasing your taxes.
  • With a FSA, you specify the annual dollar amount of your earnings to be deposited to each account. This amount is deducted in equal payments over the benefit plan year.
  • Use it of Lose It
    • It is important to set aside only as much money in your FSA as you intend to use each plan year because:
      • Any money not claimed by the employee within the specified period will be forfeited in accordance with the Internal Revenue Service (IRS) regulations - up to $500 can be rolled over each plan year.
      • You have from July 1st through June 30th to use account funds.
      • All the claims for medical and dependent care expenditures must be filed with Sheakley.
  • Sheakley Contact Information: 1-800-877-6630, 125@sheakley.comwww.sheakley.com