Flexible Spending Accounts

Employees may participate in the flexible spending account (FSA) program for paid health care and/or child care expense. . The spending accounts are funded by a salary reduction program and administered through WageWorks. Employees may allocate before-tax dollars to cover anticipated expenses. Prior to the beginning of each plan year, each participant decides the amount of salary to be allocated to each type of plan (health care and/or dependent care). Throughout the year the employee will submit invoices for reimbursement for health-related expenses (including deductibles, copays, non-covered treatments, prescription glasses, certain over-the-counter drugs, etc.) and/or for their child care expenses. **Any money left over in a FSA after all eligible claims have been paid may not be returned to the employee. 

Using flexible compensation, an employee "reduces" his/her taxable income. As a result, Social Security, federal and state income taxes are reduced. The more an employee uses flexible compensation, the lower his/her tax base will be, and the more net spendable income the employee will have.

Please contact the Office of Human Resources or visit the WageWorks web site to learn more about the benefits, risks, and limits associated with the flexible spending accounts.