Flexible Spending Account

A Flexible Spending Account (FSA) is a valuable financial tool that puts you in control of your healthcare and dependent care expenses. It's like a personal savings account but with special tax benefits. When you contribute to your FSA, you're actually reducing your taxable income, resulting in more money in your pocket. This means you can use pretax dollars to pay for qualified expenses like doctor visits, prescription medications, daycare costs, and more. The money you contribute is available to you from day one of the plan year. Below are some key features.

• Tax Savings: With an FSA, you can reduce your taxable income. Every dollar you contribute to your FSA lowers your taxable income by a dollar. This results in more take-home pay because you're paying less in taxes.

• Immediate Access: When you choose your annual FSA contribution during open enrollment, the entire amount is available to you from day one of the plan year. You can use it as needed throughout the year.

• Paycheck Contributions: To make it easy, your annual FSA contribution is divided into equal amounts and deducted from each paycheck. This way, you pay into your FSA gradually over the year.

• Eligible Expenses: You can use your FSA funds for qualifying healthcare and dependent care expenses. This includes things like medical office visits, dental care, prescriptions, daycare expenses, and more.

In essence, an FSA is a financial tool that offers tax benefits, immediate access to funds, and a structured way to manage your eligible expenses. It's a practical way to save money and handle your anticipated costs effectively.

FSA Eligible Expenses

Dependent Care Eligible Expenses

FSA Maximum Contribution Limits 

Account Set-Up Instructions