How do I contribute to an FSA?
When you enroll in an FSA, you will decide how much money you would like to set aside for the plan year. This amount is considered your Annual Goal and will be deducted from your check pre-tax and placed into your FSA. You can determine the amount you'd like to contribute to your FSA in one of two ways:
Determine your Annual Goal and divide it by the number of pay-periods in which you would like it to be deducted from your paycheck. There are 26 pay-periods in a year; you can select anywhere from 1 to the entire 26. This will give you the amount per pay-period you will have deducted from your paycheck, in order to reach your Annual Goal.
Decide the amount per pay-period you can afford to have deducted from your paycheck, then multiply that by the number of pay-periods you would like to have the deduction come out (1-26). This will give you your Annual Goal for the plan year.