Flexible Spending Accounts (FSA)

Compass Group offers three Flexible Spending Accounts (FSAs) that let you pay for certain healthcare, dependent care and commuter expenses using pre-tax dollars.

Healthcare Spending Account

You can use your Healthcare Spending Account to pay copays, deductibles, dental and vision care and prescription drug expenses not reimbursed under any healthcare plans.

You may contribute up to the plan’s maximum (minimum of $100) annually to your Healthcare Spending Account. Participants can roll over up to $500 of unused funds in a Healthcare FSA at the end of each plan year, if you enroll in the Healthcare Spending Account the following year. You have three months after the end of the plan year to submit claims.

The full annual amount of your Healthcare Spending Account contribution will be available as soon as your account is activated. You do not have to be enrolled in a Compass Group medical, dental or vision plan to participate.

If you terminate employment or your coverage under this plan ends, you can submit claims incurred up to your plan termination date. However, these claims must be submitted within 90 days of your termination date.

Dependent Daycare Spending Account

This FSA lets you pay yourself back with tax-free dollars for eligible daycare expenses for children under age 13 and other qualifying dependents while you and your spouse work. This plan is not to be used for dependent healthcare expenses.

You may contribute up to the plan’s maximum (minimum of $100, and up to $2,500 if you’re married and file separate tax returns) annually to your Dependent Daycare Spending Account. Participants have until March 31 of the following year to file a claim for expenses incurred on or before December 31 of each plan year. You will forfeit any funds that remain in your Dependent Daycare Account after December 31.

Contributions to the Dependent Daycare Spending Account work differently than a Healthcare Spending Account. In your Dependent Care Spending Account, money is only available after it has been deducted from your pay. Your account works like a checking account you pay into each pay period, so you can only spend as much as you’ve actually contributed to date.

If you terminate employment or your coverage under this plan ends, you can submit claims incurred up to your plan termination date. However, these claims must be submitted within 90 days of your termination date.

Commuter Spending Account

You can save on your commute – however you get to work. The Commuter Spending Account (CSA) saves you money by letting you pay for eligible parking and transportation expenses with pre-tax payroll deductions.

A CSA is a month-to-month benefit. You can enroll, change or cancel it at any time.

For additional information, click here.