Flexible Spending Account (FSA)
A Flexible Spending Account (FSA) is a benefit governed by the IRS and sponsored by your employer. An FSA allows you to pay certain Heath Care and/or Dependent Care expenses with pre-tax money. Money is diverted out of each of your paychecks on a pre-tax basis and put into a Health Care Reimbursement Account and/or a Dependent Care Assistance Account. Once enrolled, you are allowed to draw money out of the accounts to reimburse yourself for out-of-pocket medical and/or dependent care expenses incurred during the plan year (July 1, 2022 through June 30, 2023) which are not reimbursed from insurance or other sources. Please be aware, there is a $39. administrative fee which will be deducted from participants' payroll.