Health Savings Account & Flexible Spending Account
NEW! 2025 Spending Account Administrator
PFN employees have the opportunity to participate in several spending accounts. Since the funds are pre-tax, every dollar you contribute earns you more in tax savings! PFN will now offer the Health Care FSA, Limited Purpose Healthcare FSA, and Health Savings Account through MMA East's Spending Account Portal. Employees who choose to enroll in any of the Flexible Spending Account offerings will receive an MMA Blue Card Mastercard® to use their funds at the point of service, so long as there are funds available. Since this is an IRS-approved program, please be sure to keep receipts for purchases you make with your Blue Card for eligible transit and health care expenses.
As in years past, there will continue to be a 2 1/2 month grace period with Ameriflex. Please utilize your Ameriflex card for any remaining 2024 FSA funds until March 15th, 2025. After March 15th or if you've exhausted all of your 2024 funds, you will want to use your new spending account card from MMA East.
MMA SPENDING ACCOUNT PORTAL
MMA Blue Card Mastercard FAQs
MMA SPENDING ACCOUNT SERVICE CENTER
THE FSA MOBILE APP
The FSA Mobile App is a simple, intuitive experience that helps make it easy to manage your FSA accounts. On the FSA Mobile App, you can:
- Check current flexible spending account balances
- View account activity and receive alerts via text message
- View transaction details
- File new claims with receipt images
- Review expense information
- Enter a new expense
- Submit claims and upload receipts using the mobile device’s camera
- Manage expense receipts
- Promptly file claims for their reimbursement accounts The free mobile app is available on iPhone, Android, iPad, and iPod Touch.
Simply download the App “Spending Account Mobile Center” for your device and login using: Username: Last Name + MMDDYY (Date of Birth) + PFN (i.e SMITH060473PFN) Initial Password: DDMMYY (Date of Birth) Note: Use initial password listed above if you are new participant or if this is your first time logging in. After the first time you successfully login, you will be required to change your password. Please be sure to retain your username and password information for future use. If you forget or misplace your login information (username or password), you can contact the Spending Account Service Center for assistance at Spending.Accounts@MarshMMA.com.
Please make sure you plan carefully when determining how much to contribute towards your healthcare FSA. If you leave the company prior to the end of the plan year and do not use all funds, you will forfeit the unused funds upon termination of employment (unless you elect COBRA).
Health Savings Accounts
PFN will continue to offer a Health Savings Account (HSA) now administered through MMA East Spending Accounts to help cover out-of-pocket expenses for those enrolled in the PPO Option 3 (HSA) Plan. HSAs allow you to set aside funds on a pre-tax basis that you can then use for qualified medical & prescription drug expenses.
HEALTH SAVINGS ACCOUNT
- An HSA is a personal bank account that is yours to keep.
- It’s portable. Even if you change jobs, you get to keep your HSA.
- You can use your HSA to pay for qualified medical/prescription drug expenses.
- It allows for an improved retirement account; you can invest the funds once you have a minimum of $500.
- 20+ investment options allowing employees to grow their money faster
- Funds roll over at the end of each year and accumulate tax-free, as does the interest on the account.
- Once you reach the age of 55, you are allowed to make additional “catch-up” contributions up to $1,000 to your HSA until age 65.
- Please note if you are enrolled in Medicare, you are not eligible to contribute to an HSA.
2025 ANNUAL CONTRIBUTION LIMITS $4,300 for Individual / $8,550 for Family Catch-Up Contributions: $1,000/year (HSA owners 55 and older)
Please note, that the HSA is only available to those employees who enroll in PPO Option 3 (HSA).
Additionally, please note if you are enrolled in Medicare, you are not eligible to contribute to an HSA. Making contributions while ineligible can result in tax penalties. If you are approaching (or are older than) age 65, you should make time to discuss your HSA contribution strategy with a tax advisor.
How does a Health Savings Account Work?
Present your Highmark ID Card
Complete your visit with provider.
Provider will submit claim for processing visit
Highmark will adjust the claim and prepare the EOB (Explanation of Benefits)
You will receive an EOB and invoice from your provider
Pay the patient responsibilty from your HSA account
Flexible Spending Accounts
PFNonwovens understands the value of your dollar and most importantly, how to stretch it. As part of the benefits package, we offer a Health Care Flexible Spending Account (FSA) now administered through MMA East Spending Accounts to help you stretch your dollars. FSAs allow you to set aside funds on a pre-tax basis that you can then use for qualified expenses.
Health Care FSA
A health care FSA is a pre-tax benefit account used to pay for eligible medical, prescription drug, dental, and vision care expenses. It’s a smart, simple way to save money while keeping you and your family healthy and protected. When you make an election, this contribution is automatically withheld from your paycheck, so it does not count as income for certain tax purposes. You can elect up to the maximum of $3,300 for the plan year. These funds are available to you at the beginning of the plan year.
FSA's do have a Use-it-or-Lose-it Rule, which means you will forfeit any unused funds remaining in your account when the next plan year begins on January 1, 2025. However, PFN installed a Grace Period - which gives employees additional time to incur FSA-eligible expenses beyond the plan year-end date. The IRS allows employers to permit a grace period of up to 2 1/2 months. For your plan, the maximum allowed grace period to incur FSA-eligible expenses is through March 15, 2025, for the 2024 plan year.
A resource you might find helpful to efficiently budget your medical, dental, and vision expenses can be found by clicking below. By using this budgeting tool, you can get an idea of how much money you may want to contribute to your FSA to save money on taxes.
How does a Flexible Spending Account (FSA) work?
Annual Income
Unreimbursed Expenses
Annual FSA Contribution
Taxable Salary
Tax Deduction (est. 35%)
Net Take-Home Pay
ANNUAL SAVINGS
WITHOUT FSA
$40,000
$2,000
$-
$40,000
$14,000
$24,000
$0
WITH FSA
$40,000
$-
$2,000
$38,000
($13,300)
$24,700
$700
