Flexible Spending & Dependent Care Accounts

What are Flexible Spending & Dependent Care Accounts?

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Flexible Spending Accounts are special accounts you put money into that you
use to pay for certain out-of-pocket health care costs. You don’t pay taxes on this money. This means you’ll save an amount equal to the taxes you would have paid on the money you set aside.
 

Dependent Care Accounts are pre-tax benefit accounts used to pay for dependent care services, such as preschool, summer day camp, before or after school programs, and child or elder daycare.

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Expenses Must Occur During Plan Year

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