As part of your state of Montana Benefits, you have the option to put pre-tax money into Flexible Spending Accounts (FSAs) that can help you pay qualified medical and dependent care expenses on a pre-tax basis. By anticipating your family’s costs, you can lower your taxable income. Go to the IRS publication page or the Allegiance site for a full list of qualified medical expenses.
Flex Tax Savings Calculators
Without an FSA, medical expenses are only deductible if they exceed 10% of your adjusted gross income. Remember, gross earnings for purposes of determining Social Security benefits may be reduced by pre-tax deductions.
Important FSA Tip: You have 120 days from the end of the plan year (December 31st) to file your flexible spending claims. If you end employment with the State during the plan year, you have 120 days from the date of termination to submit claims to Allegiance. See the Summary Plan Document for more details about flexible spending accounts.
The Internal Revenue Service (IRS) allows FSAs as a tax break to employees and for qualified expenses for their qualified dependents.
See the flex calculators on the Allegiance website www.allegianceflexadvantage.com
Administered by Allegiance Benefit Plan Management
Fax (406) 523-3149 or