The Flexible Spending Account (FSA) is comprised of three parts:
1. Health Care Spending Account (HCSA)
Save on your out-of-pocket health care expenses when you enroll in the HCSA. You may pay for out-of-pocket medical expenses with pre-tax salary dollars.
- This program allows employees to pay for unreimbursed medical expenses with tax-free dollars. Employees may contribute any amount from $100 up to $3200 annually in pre-tax dollars for medical expenses that are not reimbursed by health insurance or other benefit plans.
2. Dependent Care Advantage Account (DCAA)
Save on your expenses for eligible childcare, elder care, and disabled dependent care expenses that are necessary for you and your spouse, if you are married, to work.
- This program allows employees to pay for qualified dependent care with pre-tax dollars. Employees may set aside up to $5,000 in pre-tax dollars to pay for qualified dependent care.
3. Adoption Advantage Account:
- Allows employees to contribute up to $16,810 toward expenses related to adoption.