Flexible Spending Accounts: 2014 Medical Care Spending Account
Medical Care Spending Accounts are accounts where you can set aside money PRE-TAX to help pay for out-of-pocket medical, dental and vision expenses for you, your legal spouse and dependent child(ren). This page provides a lot of information so you can understand exactly how this type of account works.
Mileage reimbursement rate effective 1/1/13 is $.24 cents per mile (IRS Notice 2012-72)
For employees who enroll in the Medical Care Spending Account during the calendar year (e.g. newly hired) the $2,500 maximum allowed by the IRS is prorated depending on when the account becomes effective. The prorated maximum enrollment limits are:
|Benefit Effective Date||Maximum Amount|