Flexible Spending Accounts
There are two kinds available to all House Officers.
If you didn't sign up already, you'll have another opportunity during Open Enrollment this fall. The Health Care FSA is used to pay for most out-of-pocket medical, vision, and dental care expenses for you and your eligible dependents. Flexible Spending Accounts reduce your annual taxes, but they are "use it, or lose it."
The Dependent Care FSA is for eligible daycare expenses for a dependent child under the age of 13, or eldercare for a dependent adult, while you and your spouse work (or if your spouse is a full-time student or disabled).
You can enroll in one type of FSA or both. You contribute tax-free dollars to your FSA(s) through payroll deductions. You can claim amounts equal to your entire annual health care contribution from your Health Care Flexible Spending Account at any time during the year. To receive a reimbursement from your Dependent Care FSA, you must have enough funds in your account to cover the claim at the time you make the request for reimbursement.
For more information and links to the appropriate forms, click the FSA link to the University's website.