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Tax Savings Benefit

Remote offers Tax Savings Benefits to help employees manage eligible healthcare and dependent care expenses while reducing their taxable income. These benefits include Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA), providing options for pre-tax contributions to cover a wide range of medical, dental, vision, and dependent care expenses. These accounts offer significant tax advantages and flexibility, helping employees save money and plan for healthcare needs efficiently.

  • Healthcare Flexible Spending Account:

    Eligible healthcare expenses

    • Ambulance
    • Chiropractors
    • Coinsurance & copayments
    • Crutches
    • Dental Expenses
    • Dermatologists
    • Diagnostic Expenses
    • Hospital bills
    • Deductible amounts
    • Lab fees

    Dependent Care Flexible Spending Account:

    Eligible expenses

    • Work day childcare services
    • Cost of care at a licensed daycare
    • Before or after school care

    Annual maximums?

    Health FSAs - For plan years beginning in 2024, the dollar limit for contributions to health flexible spending arrangements increases to $3,200.

    Dependent Care - $5,000 for individuals or married couples filing jointly and $2,500 for married individuals filing separately

  • Health Savings Account:

    Eligible expenses

    Health insurance deductibles, co-insurance, prescriptions, as well as dental and vision care, are considered IRS-qualified expenses.

    2024 Contribution Limits

    • Individual: $4150
    • Family: $8300
    • Age 55+ Catch Up: $1,000