Flexible Spending Accounts
Flexible Spending Accounts allow employees to pay for eligible health and dependent care expenses using pre-tax dollars, which lowers the employee’s taxable income and results in higher take home pay.
Medical Flexible Spending Accounts (FSA)
Employees may contribute up to $3,000 on a pre-tax basis to the FSA to pay for eligible medical, dental or vision expenses.
Dependent Flexible Spending Accounts (FSA)
Employees may contribute up to $5,000 on a pre-tax basis to the FSA to pay for eligible dependent expenses such as day care for a child or elderly adult.
