Flexible Spending Account
You can save money by enrolling in Young Life’s Flexible Spending Accounts. The FSA plans are administered by UMR. FSAs provide eligible employees a method to pay for certain IRS-approved medical care and qualified dependent care expenses. During open enrollment, you decide how much money, if any, you want to deposit in an account for the year. Pre-tax dollars are deducted from your paycheck to be used for reimbursement of eligible dependent care and/or healthcare expenses.
- Health Care FSA: This program allows eligible employees to pay for certain IRS-approved medical care expenses not covered by their insurance with pre-tax dollars up to a maximum of $3,300 per year. A debit card is available to pay for these eligible health care expenses. If all healthcare funds are not used by the end of a plan year, up to $640 will automatically roll over into the next calendar year (for qualified employees).
- Note: Once IRS maximums are released for calendar year 2026, Young Life will communicate any relevant changes to plan members.
- Dependent Care FSA: Young Life offers a Dependent Care FSA through UMR. The Dependent Care FSA allows eligible employees to use pre-tax dollars toward qualified dependent care such as caring for children under age 13 or your spouse or dependent who is physically or mentally unable to care for him or herself. The annual maximum amount each household may contribute to the Dependent Care FSA is $5,000 per calendar year. You may elect only $2,500 if you and your spouse file separate tax returns. Expenses must be incurred during the plan year.
Tax Effect
Contributions to Flexible Spending Accounts reduce your amount of taxable income. This results in savings of FICM, FICA, federal and state income taxes on the amount of salary deferral. Amounts not claimed are generally forfeited under the “use it or lose it” federal requirements. Changes in your contribution are not permitted, except for a qualifying life event. If you leave Young Life, you may still submit reimbursement claims by March 31st of the following year for expenses incurred while you were covered under the plan(s).
For more information, please access the FSA page on Staff Resources or the www.younglifebenefits.com portal or app.