Flexible Spending Accounts

 

Flexible Spending Accounts

 

Flexible benefit plans help employees save money by allowing them to pay for certain eligible expenses with pre-tax dollars. The tax savings help offset the impact of these expenses on disposable income. Employees may enroll within 60 days of employment.

 

Health Care Reimbursement Account (HCRA)

This voluntary benefit plan offers eligible employees the ability to pay for eligible out-of-pocket health care expenses with pre-tax dollars.

 

Dependent Care Reimbursement Account (DCRA)

This voluntary benefit plan offers eligible employees the ability to pay for eligible out-of-pocket expenses for dependent care with pre-tax dollars if the care is required in order for the employee (and spouse, if married) to work.

 

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FlexCash and Tax Advantage Premium Plan

 

Flex Cash

Employees who are eligible for medical/dental insurance and have other non-CSU group coverage can elect to waive CSU coverage in exchange for a monthly cash payment.

 

Tax Advantage Premium Plans

This plan allows employees to have required health plan premiums withheld from their paychecks on a pre-tax basis, reducing federal and state income and Social Security/Medicare taxes.