Health Care Spending Accounts
- Provides a way to pay for qualified health care and dependent care expenses with pre-tax dollars. There are two types of accounts available: a Health FSA and a Dependent Care FSA, which are both administered by Health Equity. You may enroll in one or both of these accounts. However, if you are enrolled in the High Deductible Health Plan with Health Savings Account, you can only enroll in the Dependent Care FSA plan, and may NOT enroll in the Health FSA plan.
Flexible Spending Accounts (FSAs)
- Allows employees to use pre-tax monies to cover deductibles, co-pays, and other non-covered eligible medical, prescription, dental, and vision expenses. Employees can elect to have up to $3,200 deducted annually. The Health FSA plan shall provide for a carryover of up to $650 of unused funds.
Dependent Care Spending Accounts
- Allows employees to save taxes on an eligible child or dependent care expenses. Employees can deduct up to $5,000 for dependent care expenses. Please consider your contributions carefully. Unused contributions to the Dependent Care FSA will be forfeited at the end plan year and grace period.