CSC and CSR Flexible Spending Accounts (FSA)

A better way to manage health care and dependent care expenses.

Overview

Flexible Spending Accounts are a valuable benefit that allows you to have money deducted automatically from your pay and set aside for certain expenses. Because this money is deducted before taxes are withheld (unless prohibited by statutory regulation), you save.

There are two types of Flexible Spending Accounts:

• A Health Care Spending Account is used to reimburse health care expenses that aren't covered by your plan. This includes deductibles, coinsurance and copays, and any other health care expense considered tax deductible by the IRS. Learn more about this account.
• A Dependent Care Spending Account is used to reimburse expenses such as day care for children (up to age 13) or elderly parents, and wages paid to a baby sitter or companion in or outside your home. Learn more about this account.

Are Flexible Spending Accounts for you?

You should consider enrolling in one or both Flexible Spending Accounts if you:

• Pay deductibles, coinsurance or copays as part of your health plan.
• Expect to have medical or dental expenses in the coming year that aren't covered by your plan.
• Buy prescription eyeglasses, contacts or saline solution.
• Pay day care expenses for your children and/or an elderly parent.