2022 Spending Accounts
If you are contributing to a Spending Account, which includes, the Flexible Spending Account, Limited Flexible Spending Account, Health Saving Account or Dependent Care Spending Account, Pre-tax Children’s Corner, Kids Connection, ARMC Family Enrichment Center or Woodmont Child Development Center, and you want to keep these types of accounts in 2022, you must complete Open Enrollment. Spending Accounts do not roll over to the next year. You have to re-enroll in these benefits every year.
• Increase in annual limit for Health Savings Account: $3,650 for employee-only coverage, $7,300 for all other coverage levels; +$1,000 if over age of 55.
• Waiting on IRS to announce annual limit for Flexible Spending Account for next year. Current limit is $2,750 for healthcare FSA.
Please review the links to the right to view important information regarding Spending Accounts.