What are Flexible Spending Accounts?

Under the Flexible Benefits Program, you can establish flexible spending accounts (FSAs) to help pay for certain out-of-pocket health care expenses and dependent day-care expenses incurred as of your benefit eligibility date through the end of the calendar year. The spending accounts are funded with your tax-free dollars. There are two funds, the Health Care Spending Account and Dependent Care Spending Account.

While these accounts afford employees a tax benefit, it is important you fully understand the details of the plan before making your decision to participate in these accounts.