The application deadline for the 2008 Flexible Spending Plan Year is: December 14, 2007

Flexible Spending Accounts offer you a significant income tax savings opportunity, by allowing you to pay your out-of-pocket Medical and Dependent care expenses with pre-tax dollars!! By paying your out-of-pocket medical and dependent care expenses on a pre-tax basis through a Flexible Spending Account, you can lower the amount of taxes you pay by up to 25% of the amount you set up in your account(s). Thus, you can save up to $250.00 for every $1,000.00 that you put into one of these accounts. The net result means more take home pay and more money in your pocket!! There are two types of Flexible Spending Accounts (FSA’s): 1) The Medical Flexible Spending Account allows you to set aside up to $2,500.00 annually for your out-of-pocket over-the-counter medicine; and medical, dental, vision and hearing expenses including co-payments that are not covered by your health or dental plan; 2) The Dependent Care Spending Account allows you to set aside up to $5,000.00 annually to pay for qualifying work-related child or adult daycare expenses such as a Day Care Center, Summer Day Camp, Babysitter, Nursery School, After-School Care and Home Health Care for a physically disabled child or adult. For more information regarding flexible spending please refer to the 2008 Flexible Spending Information and Forms in the Human Resources / Benefits folders on First Class email. Remember if you presently have a Flexible Spending Account (FSA) and wish to continue, you must re-enroll for the 2008 Plan Year. If you have any questions, please call the City of Newton Human Resources Department at 617-796-1260 or the Human Resources for the school department at 617-559-6005. Here are some links that have been added by the NTA to help you learn more about flexible spending. Medical Expenses Eligible for Reimbursement Frequently Asked Questions about Flexible Spending Accounts - (Provided by Ceridan) FSA Savings Calculator for Individuals - (Provided by Ceridian) Pay the Doctor Bill, Not the Tax (Star-Telegram.com of Northern Texas) Wikipedia - Flexible Spending Account Speak to your NTA reps for further help or direction.