Flexible Spending Accounts (FSA)
What is a Flexible Spending Account (FSA)?
We provide you with an opportunity to participate in flexible spending accounts (FSAs) administered through Optum.
FSAs allow you to set aside a portion of your income, before taxes, to pay for qualified health care and/or dependent care expenses.
Because that portion of your income is not taxed, you pay less in federal income, Social Security and Medicare taxes.
Be sure to review our Benefits 2023 Guide regarding options for Heath Care and Dependent Care FSA accounts.
Flexible Spending Account (FSA) Rules Are As Follows:
You must enroll each year to participate.
Because FSAs can give you a significant tax advantage, they must be administered according to specific IRS rules.
More information is available in our Benefits 2023 package, available in your ESS portal in Paycom.