Flexible Spending Accounts
Save for Eligible Expenses While Reducing Your Taxable Income
Flexible Spending Accounts (FSA) allow you to set money aside for certain eligible expenses and draw from it throughout the year to pay for those expenses. The money is set aside pretax, reducing your taxable income. Two types of FSAs are available:
- Healthcare
- Dependent Care
Money cannot be transferred between the accounts (i.e., you cannot use money from your healthcare FSA to pay for dependent care expenses and vice versa).
Healthcare FSA
A healthcare FSA allows you to set aside pretax money to pay for eligible healthcare expenses for yourself and your dependents. Eligible expenses may include medical and prescription costs, dental and vision care, copays, deductibles, and other qualified expenses not covered by your health plan. You can submit these expenses for reimbursement throughout the year.
Dependent Care FSA
A dependent care FSA is used to pay the costs of dependent care that enable you to work. This care may be for a child under age 13 and for older dependents, including children, spouses, and parents who are physically or mentally unable to care for themselves and who live with you for more than half the year. Eligible expenses include daycare, before-school and after-school care, babysitters, and elder daycare.
Benefits Information, All in One Place
Log in to HealthyMeBenefitsEnroll.com to securely access your personal benefits information, review your current coverage, find plan documents and make changes after a qualifying life event. If you need help finding information or understanding your benefits, ask Sofia, your personal benefits assistant.