FLEXIBLE SPENDING ACCOUNTS
Flexible Spending Accounts (“FSAs”)
NRP’s FSA Plan Year starts every July 1st for our employees. FSAs are a great way to save on eligible healthcare, dependent care, and/or parking/transit expenses by using pre-tax dollars. The FSAs are offered through NRP and administered by American Benefits. Participants can pay for eligible expenses with a debit card linked to their FSA. The FSAs can be conveniently managed online and through a smartphone application.
WATCH: Flexible Spending Accounts (FSA)
Medical FSA
American Benefits Group | www.amben.com
Healthcare & Dependent Care FSA
Employees who choose to enroll should determine how much to contribute based on their estimated expenses for
the upcoming Plan Year. The annual contribution limit is $3,050 for healthcare and $5,000 for dependent care. The funds will be deducted pre-tax in equal amounts from each paycheck throughout the Plan Year. If an active employee does not use his or her entire healthcare FSA contribution by the end of the Plan Year, up to $610 in unused funds will be rolled over into the following Plan Year. Any unused dependent care FSA funds will be forfeited at the end of the Plan Year.
DCAP
American Benefits Group | www.amben.com
Parking & Transit FSA
Employees are offered a pre-tax option to pay for work related parking or mass transit expenses. Eligible employees can enroll or make changes to parking and/or transit FSA at any time. If an active employee does not use his or her entire Parking or Transit FSA contribution by the end of the Plan Year, any remaining funds will rollover into the following Plan Year. The 2024 monthly IRS limit is $300 for commuter benefits.
Section 132 Transportation Plan
American Benefits Group | www.amben.com
