Flexible Spending Account
A Flexible Spending Account (FSA) allows you to set aside a portion of your income pre-tax to pay for out-of-pocket healthcare or dependent care expenses. By using “before-tax” dollars, you effectively reduce your taxable income and save money on every dollar spent.
The Up-Front Advantage
For Healthcare and Limited Purpose FSAs, your entire annual election is available to you on July 1st. You then “pay back” the account through equal deductions from your paychecks throughout the plan year.
| Account Type | Eligibility | What it Covers |
| Healthcare FSA. | Enrolled in a PPO plan or no health plan. | Medical, Dental, Vision, Pharmacy, and qualified OTC items. |
| Limited Purpose FSA. | Enrolled in the HDHPA (HSA) plan. | Dental and Vision ONLY (Your HSA handles medical expenses). |
| Dependent Care FSA. | All benefits-eligible employees. | Daycare, summer camps and elder care for tax dependents. |