A Flexible Spending Account (FSA) – also commonly referred to as an FSA, a Flex Plan or a Cafeteria Plan – is an employee benefit program that allows employees to set aside money on a pre-tax basis for certain medical and childcare expenses. With an FSA, employees can reduce their taxes while paying for necessary services or expenses.
Using an FSA, employees and employers can shield thousands of dollars of expenses annually, resulting in substantial tax savings. Amounts contributed to an FSA are NOT subject to federal and state income taxes or social security taxes. Employees who participate in this program benefit by reducing their taxable income in order to increase their level of “take home” pay.
The Letchworth Central School District Flexible Benefits Plan is administered by the Genesee Valley Educational Partnership. Open enrollment is the month of September and the plan year is October 1 - September 30. More information including claim forms and lists of eligible expenditures can be found at the Flexible Benefits - Genesee Valley Educational Partnership.