Effective May 1st, 2022, Midway ISD changed FSA and Dependent Care providers to Higginbotham. You should have received a new card in the mail. Please see below for forms and plan information regarding the new administrator.
A flexible spending account (FSA) is one of several tax-advantaged financial accounts that can be set up through a cafeteria plan adopted by your employer.
A medical FSA is the most common type of flexible spending account, and allows you to set aside a portion of your earnings to pay for qualified expenses, most commonly for medical costs, such as doctors, dentists, and optometrist copays.
It should be noted that funds not used by the end of the plan year are lost to the employee, known as the “use it or lose it” rule, unless your employer has a rollover provision.
An FSA is a use it or lose it account
You have from 9/1 - 8/31 to use your elected funds
There is a small grace window to use your funds after the end date, but only for an expense that fell within the time frame
You elect an amount to be deducted each month. Your Higginbotham card is loaded with all of the funds upfront
$3,200 maximum per year = $266.66 per month
Pre-tax savings