Health Saving Account are available to all who select the high deductible plan. You will need to decide how much money you want to contribute a month. You can then use this money to pay for your medical, dental, vision, prescription expense throughout the year. Your leftover contributions will roll over into the next year.
Flexible Spending Accounts are available to all employees regardless of your medical plan choice. You will need to decide how much money you want to contribute a month. You can then use this money to pay for medical, dental, vision, prescription expenses throughout the year. This is a use it or lose it program. All funds will be provided the first month of the plan year and be deducted from your paycheck monthly. Any leftover funds will expire at the end of the plan year.
Like other FSA’s, the dependent care FSA allows you to fund your account with pretax dollars. But this account is for eligible child and adult care expenses. This includes preschool, nursery school, day care, before and after school care and summer day camp. It’s the care your family needs, while you’re at work.