Flexible Spending Accounts (FSAs) allow you to pay for eligible health care and dependent care expenses with pre-tax dollars. The FSAs provide tax savings because you are not taxed on the money used to pay for such expenses.
Please refer to the Flexible Spending Account SPD for more information on the flexible spending accounts.
Health Care Flexible Spending Account
A Health Care FSA allows you to set aside money on a pre-tax basis to pay for qualified out-of-pocket medical, dental, vision or hearing expenses that are not covered by insurance.
Health Care FSA is an independent pretax spending account for medical expenses. It is different from the Health Savings Account (HSA), which is a pretax savings account only available to employees enrolled in the Consumer Driven Health Plan (CDHP) medical plan.
*2017 Health Care FSA limit is $2,600
Dependent Care Flexible Spending Account
A Dependent Care FSA allows you to pay for eligible child or adult care expenses on a pre-tax basis. Eligible expenses can be submitted for dependent children under the age of 13 or for a spouse or other adult dependent who is not able to take care of him or herself.
*2017 Dependent Care FSA limit is $5,000
Managing Your FSA with WageWorks
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