Flexible Spending Accounts

We offer both Health Care and Dependent Care Flexible Spending Accounts.

When you "open" a Health Care and/or Dependent Care FSA, you instruct us to put part of your pay into an account, on a before-tax basis. This is your tax-free money to use for eligible health care or dependent care expenses for you and your family. Eligible health care expenses are expenses that are not covered by other medical, dental, or health plans.

Eligible dependent care expenses include care of a dependent child under age 13, care for any member of your household who is physically or mentally incapable of caring for themselves and qualifies as a dependent , or care for an elderly dependent who lives with you.

For many employees, this results in significant tax savings. These expenses are exempt from state and federal income tax as well as FICA tax. The maximum annual HCRA amount is $4,000; the maximum annual DCRA is $5,000.

For a complete list of eligible Health Care expenses, get the IRS Section 213d at your local IRS office or visit the IRS web site Publication 502.
For a complete list of eligible Dependent Care expenses and provider, get the IRS Publication 503 at your local IRS office or visit the IRS web site.