Use this screen to set up rules for medical care flexible spending accounts. You can enter the plan year, the date range for the plan, and the maximum amount an employee may elect for the year for medical care expenses.
You cannot access this screen unless you selected the Medical Care Flexible Spending Accounts check box on the Configure Benefit Settings screen. You can use this screen when you need to enter new plan years for medical care flexible spending accounts, or when you need to update existing plan years. You must set up medical care flexible spending account records before you can link them with employees on the Manage Employee Dependent Care FSA Elections screen.
Enter the year, in YYYY format, that you wish to set up. The year must be between 1901 and 2078. When you enter this year, the Start Date defaults to 01/01/YYYY and the End Date defaults to 12/31/YYYY.
Use the date fields this group box to enter the start and end dates for the plan year you are setting up. The date range should be a calendar year and cannot overlap existing plan years. You must also use this group box to enter the maximum dollar amount any employee can elect for the plan year for medical care expenses.
This field displays the default starting date for the plan year you have entered. To change this date, enter a new date, in MM/DD/YYYY format, on which this plan year begins. This is a required field.
This field displays the default ending date for the plan year you have entered. To change this date, enter a new date, in MM/DD/YYYY format, on which this plan year ends.
Enter up to 12 digits, plus up to two digits to the right of the decimal, for the maximum dollar amount any employee can elect for medical care expenses for this plan year.
Enter the number of grace period days for this plan year.
Select this check box to carry over unused medical care FSA employee contribution to the succeeding plan year up to the maximum amount indicated in the Carryover Limit field.
This field is disabled and cleared if you enter a value greater than zero in the Grace Period Days field.
Enter the maximum amount of unused employee contributions in the current plan year that can be carried over to the succeeding plan year.
This field is disabled and blank if the Allow Carryover of Unused Funds check box is not selected.