Flexible Spending Accounts- Medical and Child Care
The Health Reimbursement Account allows you to pay many medical expenses in a tax advantaged way. You may be reimbursed for medical, dental, or vision care expenses not covered under your insurance plan, such as co-payments and deductibles. The reimbursements you receive are pre-tax.
The Dependent Care Reimbursement Account is used to help you pay for your dependent care expenses. The advantage of putting money into this account is that it reduces your taxable income.
Reminder: If you wish to participate in the reimbursement accounts, you must sign up every October for the upcoming year.