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ASC Employees saved over $100,000 in taxes in the past 10 years.

ASC Employees saved over $100,000 in taxes in the past 10 years. Were you one of them?. You can save by participating in the Flexible Spending Plan!. ASC Cafeteria Benefit Plan. Run by EBS Benefits Services, a subsidiary of Blue Cross and Blue Shield

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ASC Employees saved over $100,000 in taxes in the past 10 years.

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  1. ASC Employeessaved over $100,000 in taxes in the past 10 years.

  2. Were you one of them?

  3. You can save by participating in the Flexible Spending Plan!

  4. ASC Cafeteria Benefit Plan • Run by EBS Benefits Services, a subsidiary of Blue Cross and Blue Shield • Saves up to 20% - 30% on medical, dental, vision, and daycare bills not paid for by insurance

  5. Taxes Saving • Money stays in your pocket not the IRS’s pocket!

  6. How does it work? • You pay for medical, dental, vision and daycare bills with “pretax dollars.”

  7. What are pretax dollars? • Pretax dollars are the whole dollars your earn BEFORE the taxes are deducted. • Save the Federal tax, State tax, Medicare tax and Social Security tax • That’s a whole lot of taxes!

  8. Will I ever have to pay taxes on this money? • No, this money is not reported to the IRS or NYS as earnings for you.

  9. What can I pay for with pretax dollars in my cafeteria benefit plan ? • $5, $15, or $30 Prescription co-pay costs • $15 office visit co-pays • hearing aids • fillings, dentures, or partials • glasses or contact lens • Stop smoking aids like the patch • Over-the-counter limited to devices and those prescribed by a doctor - limited

  10. What can I pay for with pretax dollars in my cafeteria plan account? • Chiropractor and Physical Therapy • Counseling • Diabetic Supplies • Acupuncture or medical massage • Lasik Surgery (surgery to correct vision) • Mileage to and from doctors or dentists • Much more!

  11. What else can I pay for with pretax dollars in a cafeteria benefit plan? • Daycare expenses for children or dependent adults in need of care

  12. What if I do not have medical insurance through ASC? • You can still pay for any medical, dental, vision or daycare expenses for anyone in your family even if you DO NOT have insurance with ASC.

  13. Can I pay medical bills from last year with my pretax dollars? • You can only pay for medical, dental, vision, and daycare bills that occur within the plan year which is September 1 until August 31.

  14. Is there a limit? • As of 2012, there will be a $2,500 limit any one employee may set aside into a Flexible Spending account.

  15. If I have money left in my cafeteria benefit plan , can I use it next year? • At this time, the IRS does not allow this. You must use your pretax dollars in the plan year September – August. • You may submit bills until October for service you used before August 31st .

  16. How do I save money with a cafeteria benefit plan? • Pick up more information the Payroll Office. • Read about the plan in your employee handbook or union contract. • Contact your financial advisor or whoever prepares your taxes.

  17. When do I need to sign up? • Mid-august is the deadline to sign up for this year.

  18. Don’t pay one more cent in taxes that you can use for yourself and your family!

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