Pre-Tax Spending Plan

Flexible Spending Accounts (FSAs) let you pay for eligible out-of-pocket health care and/or dependent care expenses with pre-tax dollars.

How It Works

1. To participate in an FSA, you must elect an annual amount to contribute to your FSA each year.
   • The annual maximum is $3,050 for a Health Care FSA, and the annual maximum for the Dependent Care FSA is $5,000. (If you are single, or married and file separate tax returns, the maximum for the Dependent Care FSA is $2,500.)
2. Your annual contribution amount is divided into the number of paychecks you will receive.
   • Each pay period, your FSA contributions will be taken out of your paycheck on a pretax basis and deposited into your FSA account(s).
3. You can then use the funds to pay for eligible expenses in 2024.
   • Eligible health care expenses include your medical plan deductible, copays and coinsurance, prescription drugs, dental care and more.
   • Over-the-counter medications with or without a prescription and menstrual care products qualify for reimbursement under the Health Care FSA.
   • Eligible dependent care expenses include child care for dependents under age 13 or care for adults who are physically or mentally disabled and live with you.