Calhoun City Schools offers employees two separate Flexible Spending Accounts (FSA’s) – a Health Care Account and a Dependent Child Care Account.
Flexible Spending accounts provide a way for you to pay for certain unreimbursed health care and dependent child care expenses with tax-free dollars. You contribute before-tax dollars directly from your pay to either or both Flexible Spending Account. Why? Because you save money since the contributions are made before taxes — This is comparable to every dollar $1.00 you elect only affecting your take home pay by about $0.70.
For the 2024 plan year, the maximum contribution for the medical FSA plan will be $3,050.