Flexible Spending Account (FSA)
Valuable pre-tax benefits administered by Health Equity.
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A Flexible Spending Account (FSA) is an IRS Code Section 125 Cafeteria Plan. Through it, Participants set aside funds on a pre-tax basis each year into their FlexSystem account(s), and subsequently access those funds for qualifying healthcare and/or dependent care expenses incurred within the Plan Year.
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Employee Benefits
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Reduces income tax (Federal, State, and FICA): pre-tax payroll contributions result in a lower taxable salary.
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Saves on the cost of eligible healthcare and/or dependent care expenses: using pre-tax dollars can save nearly thirty percent!
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Offers immediate access to elected healthcare FSA funds.
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Covers common types of expenses: medical, dental, orthodontia, vision, prescription drugs, day care, and more.
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2023 FSA Max Contributions
Healthcare FSA: $3,200
Dependent Care FSA: $5,000
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