Program Details

Flexible Spending Account (FSA)

A Flexible Spending Account (FSA) is one of the many tax-saving programs you qualify for if you consistently work 20 or more hours per week. Also known as Section 125 Benefit Plans, there are two types of FSAs: Health Care and Dependent Day Care. Click here for complete details.

  • Health Care FSA

  • You can use your Health Care FSA funds to pay for health, dental, and vision care expenses for yourself, your spouse, and all of your dependents. A general rule of thumb for determining what qualifies as an eligible expense is that it must be incurred primarily to treat a medical condition. See our program administrator’s site for a detailed list of eligible and ineligible expenses. The maximum contribution you can make to the Health Care FSA is $2,500 per year.

    The Health Care FSA is 100% pre-funded. That means your entire election amount for the year is available to you on January 1, regardless of how much money you have deposited into the account. If you are planning a surgery or other large expenditure, the Health Care FSA can help you to spread out the payments over the year. Additionally, using the special BENNY™ Debit Card can eliminate out-of-pocket payments and reimbursement paperwork. The debit card service is available to you free of charge.

  • Dependent Day Care FSA

  • The Dependent Day Care FSA can be used to pay for day care expenses for your qualified dependent(s) while you (and your spouse, if you’re married) are working, looking for work, or attending school full time. Common eligible expenses include preschool tuition, before/after school care for children under age 13, and day care for elderly parents who are unable to care for themselves. Given the high cost of day care, the Dependent Day Care FSA can save you a lot of money, but participation guidelines are specific. Therefore, we encourage you to familiarize yourself with the details of this FSA before filling out your salary redirection form.

    The maximum contribution you can make to the Dependent Day Care FSA is $5,000 per married couple or $2,500 per single parent per year.

How to use an FSA

Indicate on your Salary Redirection Agreement the annual amount you'd like to be set aside for eligible expenses. This amount will then be divided equally, taken directly out of your earnings, and deposited into a special account. (If you are on a bi-weekly or semi-monthly pay cycle, deductions will be taken twice a month.  If you are on a weekly pay cycle, deductions will be taken four times a month.) Only the remainder of your income is taxed. Depending on which options you choose, you can either use the special BENNY™ Debit Card to to pay for eligible expenses from your Health Care FSA or pay out-of-pocket then submit paperwork for reimbursement. 

Medical and/or Dental Premiums

Medical and/or dental premiums can be automatically deducted from your paycheck before taxes. Your premiums will continue to be paid on a pre-tax basis until you request otherwise. You probably signed up for this benefit at your ALTRES orientation unless you deliberately opted for after-tax payment of premiums.

The Pre-Tax Commute Plan

The Pre-Tax Commute Plan (Section 132) can be used by all active employees to pay for parking at or near the workplace and mass transit expenses (i.e., TheBus or Handi-Van) incurred going to and from work. You are not required to work any minimum number of hours to qualify for this benefit, but must earn enough each month to cover the amount of the deduction. Because this plan is month-to-month, you can enroll and cancel plan participation at any time.

Maximum contributions are $255 for parking and $255 for mass transit per month. You can use both the parking and the mass transit benefits, but keep in mind that they are separate accounts. Unused funds from one cannot be transferred to the other. Reimbursements are limited to the amount of funds in each account at the time of claim processing.

Supplemental Health Insurance

Certain types of supplemental health insurance plans are available as a pre-tax expense. Underwritten by AFLAC, these plans include:

How to Sign Up

Click here for details.