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Spending Accounts
Flexible spending accounts allow you to have your pay reduced on a pre-tax basis to pay certain expenses.

 

 

Overview
Our flexible spending accounts allow you to have your pay reduced on a pre-tax basis to pay certain health and/or dependent care expenses such as child care expenses, vision and hearing care and health and dental insurance co-payments.


Dependent Spending Account
If you are a single working parent or if both you and your spouse work outside the home (or attend school full time) and have expenses for the care of your child, an elderly parent or other dependents, you can use a dependent care spending account to pay for eligible dependent care expenses. You can contribute a maximum of $5,000 per year per family to your dependent care spending account. Some eligible expenses for which you can use the account include:

    • Care for an eligible dependent in your home or another location;
    • Care for an eligible dependent at a licensed daycare center, nursery, or preschool;
    • Care for an eligible dependent at an adult/elder care center, as long as the individual lives in your home at least eight (8) hours per day.

Health Care Spending Account
Just about every employee can take advantage of a health care spending account. You may use it to cover unreimbursed health care expenses whether or not you choose health or dental coverage. You can contribute a maximum of $6,000 per year to your health care spending account.

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