Reimbursement Accounts

Flexible Spending Accounts (FSA)

Health FSA

This benefit allows eligible employees to set aside money to pay for a variety of out-of-pocket medical expenses. After the employee makes an election, pre-tax salary deductions will fund the account. Your company will specify the maximum election allowed for this benefit. Eligible expenses such as co-payments, deductibles and most dental and vision services are reimbursable. Many over-the-counter medicines and products are eligible expenses if they are considered medical necessities. Please review the list of Eligible Expenses to determine eligibility.

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Dependent Care Spending Account

This benefit allows eligible employees to set aside money to pay for a Qualified Dependent's care while working. After the employee makes an election, pre-tax salary deductions will fund the account. The maximum election allowed by Federal regulators is $5,000 per calendar year. Some examples of eligible expenses are; before and after school care, Summer Day Camp and a babysitter. Please reference the Dependent Care Assistance Information for more details regarding maximum elections allowed and a guideline for a tax credit alternative.

Flexible Spending Account Overview

Qualified Transportation Account (QTE)

When you participate in a Qualified Transportation Benefit Plan, you can reduce your taxable income. After you make your monthly election, pre-tax salary deductions will fund this account. These deductions decrease your Federal Income Tax withholdings, your FICA (Social Security, Medicare) taxes. The following benefits may be available.

Parking Reimbursement Account

This benefit allows you to pay for your daily or monthly parking expenses incurred for parking at or near your place of employment on a pre-tax basis. Some examples of qualified parking expenses:

  • Parking at or near the business premises of the employer.
  • Parking at or near a location from which the employee commutes to work by mass transit, vanpooling, in a commuter highway vehicle, by carpool, or by any other means.

Transit Reimbursement Account

This benefit allows you to pay for your daily or monthly mass transit expenses related to your commute to your place of employment on a pre-tax basis. Some examples of qualified transit expenses:

  • Transit by bus, ferry, rail, subway, monorail streetcars and tramcars
  • Vanpool ride (the seating capacity of the vehicle must be at least six people, not including the driver.)

Qualified Transportation Account Overview