OPEN ENROLLMENT
SECTION 125 FLEXIBLE SPENDING PLANS
November 4, 2024 – December 2, 2024
The Town will hold an open enrollment for Section 125 Flexible Spending Plans (FSA) from November 4 th , 2024 to December 2 nd , 2024. Section 125 Plans allow benefits eligible employees to contribute pre-tax payroll deductions into medical and dependent care accounts. Current IRS regulations allow for pre-tax contributions of up to $3,300. for eligible medical care expenses and up to $5,000 for dependent care.
Cafeteria Plan Advisors of Norwell, MA will continue to serve as the Town’s provider for this benefit. The monthly administration fee will remain at $4.75, making the total annual cost for participation just $57! The Town will continue to offer debit cards as well as the Carryover Provision. Employees enrolled in Medical FSAs will have the option to receive a free set of two (2) debit cards for use on eligible medical, dental, vision, prescription and over-the-counter drug expenses anywhere that accepts credit and debit cards. Some expenses may require paper receipt submission; however, users may pay for most routine copays and deductibles with a simple swipe of a card. Employees
can purchase additional cards from Cafeteria Plan Advisors for $10.
If you were enrolled in Calendar Year 2024, you can keep your same cards for Calendar Year 2025. Do not throw them away.
The Carryover Provision will allow employees to carry over up to $660 in unused 2024 FSA funds and use them in calendar year 2025. This benefit allows an employee to utilize more of their money if they overestimate their calendar year 2024 Flexible Spending expenses. Employees with funds from 2024 that they wish to rollover into 2025 must enroll in the plan for 2025. For additional information, please visit their website: www.cpa125.com or the Town Employee Benefit website at https://www.belmont-ma.gov/human-resources/pages/employee-benefits . To see examples of eligible expenses and items, visit the FSA Store at www.fsastore.com. To enroll in this fantastic benefit, contact the Human Resources Office at x2740 or stop by our offices to get more information!
If you were enrolled for calendar year 2024, you must re-enroll through your online portal at cpaemployee.lh1ondemand.com – do not complete another paper enrollment form.
Please note: Open Enrollment for FSA plans is a separate process from the annual springtime open enrollment for other benefits.