23 Benefits
banzai.org
Full-time Employees Benefits
Page Title
Flexible Spending Account (FSA)
Last updated
As a Banzai employee, you could use an FSA to cover costs like dental and vision expenses, and other expenses not reimbursable with the HRA.
If you decide to enroll in and contribute to an FSA, the total amount is available January 1st of that year, but you’ll continue to make weekly contributions throughout the year.
Up to $640 of unused funds will rollover to the next year—this is added to your total contribution amount—anything over $640 is forfeited. You have until January 31st to submit claims for the previous year's expenses.
Up to $640 of unused funds will rollover to the next year—this is added to your total contribution amount—anything over $640 is forfeited. You have until January 31st to submit claims for the previous year's expenses.
Highlights
FSA Debit Card
Pre-Tax Contributions
Rollover $640
Frequently Asked Questions
- How much should I contribute to the FSA?You can contribute up to $3,200 a year, but it’s important to plan your contribution amount carefully. Only $640 of a remaining balance at the end of the year can be rolled into the following year. Don’t contribute more than you’ll reasonably spend on qualified expenses.
- How do I submit a claim for my FSA?The easiest way to pay for expenses with your FSA is to use the FSA card sent to you when you enroll. This card works like a debit card for eligible expenses. If you use it for other expenses, you'll be on the hook for those costs and must reimburse Health Equity.
- Can FSA funds be used for dependent medical expenses?Yes, FSA contributions can be used for expenses incurred by yourself, a spouse, and any dependents claimed on your tax return.
- How do I contribute money to the FSA?When you sign up for the FSA, you’ll fill out a form that asks how much you’d like to contribute to your FSA each week. This amount will then be taken out of your paycheck each week.