November 14 is the last day for Open Enrollment. The plan year begins on January 1, 2020. If you want a flexible spending account in 2020, you must enroll for a flexible spending plan through the SPS online system during open enrollment.

The new limit for the Health Care FSA is $2,700.00 for 2020. The Dependent Care FSA remains at $5, 000.00 for 2020. To calculate your biweekly Health or Dependent Care FSA payroll deduction, please use the applicable formula below:

• 22 pay (9 month) employees: there are 20 biweekly deductions in 2020. Divide the total by 20.
• 26 pay (12 month) employees: there are 24 biweekly deductions in 2020. Divide the total by 24.