What are the tax advantages of a cafeteria plan? Can I change my FSA election during the plan year?
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what is fsa Informational
- What are qualifying life events that allow for FSA election changes?
- How does the carryover option affect the contribution limits for the following year? If my employer offers both a carryover and a grace period, how do they interact?
- What are the maximum carryover amounts allowed for healthcare FSAs?
- What are the potential long-term financial benefits of participating in an FSA?
- What if I don't have sufficient documentation for a claim? Can I use prior year FSA funds for current year expenses?
- What are the key differences between a healthcare FSA and a dependent care FSA? Can I use funds from a healthcare FSA for dependent care expenses, or vice versa?
- What are the rules regarding FSA rollovers?
- What about mental health services?
- Can I claim both the dependent care tax credit and use a dependent care FSA for the same expenses? What are the rules for coordinating dependent care FSA benefits with the child and dependent care tax credit?
- What types of preventative care services are typically eligible? Are there any limitations on the frequency or cost of preventative care services?
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