These accounts allow you to set aside money from your paycheck on a pre-tax basis to use for eligible out-of-pocket expenses.

How it works:

• During open enrollment, you estimate your out-of-pocket healthcare or dependent care expenses for the coming year and choose an amount to set aside (up to the IRS maximum).
• That amount is deducted from your paycheck—on a pre-tax basis—in equal amounts per pay period.
• As you have eligible expenses, you use your FSA debit card to pay for them.

The type of medical plan you choose during enrollment determines the type of healthcare FSA you may elect:

Traditional Plan

• Type of FSA: General Purpose FSA
• Can be used to pay for: Medical, Dental and Vision expenses

HDHP

• Type of FSA: Limited Purpose FSA
• Can be used to pay for: Dental and Vision expenses only

Reminder

If you choose an HDHP, you can have both a Limited Purpose FSA and an HSA. An HSA is not allowed with the Traditional Plan.

Dependable Care Spending Accounts (DCFSA)

• Day care can be a big expense. A dependent care flexible spending account (DCFSA) can help provide big savings. It lets you set aside money before taxes to pay for things like day care, summer day camp and other dependent care expenses
• Dependent care expenses do not include medical expenses and therefore can be used even if you participate in an HSA.