Flexible Spending Accounts 

Flexible Spending Accounts (FSAs) allow you to set aside money from each pay with deductions, on a pretax basis, to pay for a wide variety of common health care and dependent day care expenses for you and your eligible dependents. Even with an insurance plan, health care expenses can add up. From deductibles and copays to items not covered by insurance, the rising cost of health care can put a strain on your budget. Families paying for dependent day care, whether for children or for elders, know how expensive that can be as well. FSAs provide tax savings to help you offset the rising cost of health care and dependent day care expenses. You may want to discuss your personal situation with a tax advisor before deciding if an FSA may work for you. The State FSAs are administered by SHPS, Inc. FSA coverage is available only for your tax dependents.

Health Care Account: You may contribute between $120 and $3,000 a year to reimburse yourself for eligible health care expenses not reimbursed by any medical, dental, or prescription plan you or your eligible dependents may have.