PBS Flexible Spending Account Plan (FSA)
What is a Flexible Spending Account?
With an FSA, you elect to set aside an amount of money on a pre-tax basis to cover qualified health care expenses that are not covered by your health plan.
FSA contributions are made on a pre-tax basis and therefore will not count as taxable income. You will save in taxes because your taxable income is reduced by the amount you contribute and thus lowers the amount of taxes you pay.
How can I use the funds?
FSA dollars can be used during the plan year to pay for qualified expenses and services. The PBS Prepaid Benefits Card is a special-purpose MasterCard™ card that lets you swipe to access the pre-tax amounts set aside in your FSA. Your card balance information can be accessed 24/7 through your PBS online consumer portal or our mobile app named “PBS Benny” in the app store.
The PBS Benefits Card is valid for five years. Please check the expiration date on your card. Funds will be re-loaded every plan year you participate, and new cards will not be sent unless you lose the card or request for additional cards to be sent to your home.
What are qualified FSA expenses?
You can use your benny card to pay for eligible out-of-pocket expenses. The IRS defines qualified health care expenses as expenses you or your dependents incur for the diagnosis, cure, treatment or prevention of diseases, conditions, or ailments. Health FSAs can not reimburse expenses that are reimbursable from any other source.
- Health plan copayments, deductibles, and coinsurance
- “Amount Due” on medical and dental statements
- Vision services, contacts/eyeglasses, and LASIK surgery
- Medical supplies such as bandages, thermometers, and blood pressure monitors
- Certain over the counter (OTC) items such as cold/flu medication, allergy medication, and pain relievers
For a full list of eligible expenses, please visit the upper right-hand side of this page where it says “FSA List.”
How much can you elect to contribute to a FSA?
The annual contribution you elect for is immediately available at the beginning of the plan year even though your contributions are spaced over the entire plan year through your payroll deductions. The 2023 FSA IRS maximum election is $3,050. Please check your FSA Plan Document for your company specific FSA Maximum.
Note: You need to re-enroll every plan year — Pursuant to IRS guidelines, you must re-enroll during the annual open enrollment period to participate in the FSA for the upcoming year.
How can PBS assist?
Our call center is open during PBS’ business hours to help answer any questions you may have! You may also use our automated phone system to check your pre-tax account balance(s) 24/7. PBS also provides employees with an online portal to manage your account through the web and a mobile app “PBS Benny” for on-the-go convenience!
For more information on your plan and plan specifics, please inquire with HR for a copy of your FSA plan document.