Flexible Spending Accounts
Ingredion offers two types of Flexible Spending Accounts – the Healthcare FSA (only available to participants in the Health Reimbursement Plan (HRP) or who waive medical coverage) and Dependent Care FSA. Healthcare and Dependent Care Flexible Spending Accounts are funded by your pre-tax payroll deductions.
Funds in a Healthcare flexible spending account can be used to pay for eligible out-of-pocket expenses for you and your family. Funds in a Dependent Care flexible spending account can be used to pay for eligible out-of-pocket daycare expenses. To learn more about healthcare eligible expenses and dependent care eligible expenses are eligible for reimbursement from your account, visit Discovery Benefits.
Money set aside in an FSA in a calendar year can only be used for expenses incurred within that calendar year.
Ingredion has partnered with Discovery Benefits for Flexible Spending Accounts. Once a Flexible Spending Account is opened up for you, you will receive a healthcare debit card and a welcome kit with instructions on how to access any funds you have deposited into your FSA.
You will be able to carry over up to $550 of your remaining Healthcare FSA balance into the following calendar year. There is no carry over provision for Dependent Care FSA.
|Account Type||Maximum Calendar Election (2021)|
|Dependent Care FSA||$5,000*|
*dependent care maximum may be limited for highly compensated employees