Why Enroll in a Flex Plan?

  • Save Money

    A Flexible Spending Account (FSA) allows you to put aside money before taxes to pay for eligible healthcare and daycare expenses. Money withheld for the FSA escapes Federal and State income taxes and Social Security Tax. By adding these three tax brackets together, you will find that your tax savings can be as great as 40% of the amount contributed to the FSA.

  • Care For Your Family

    You can include expenses for you, your spouse, your qualified tax dependents, as well as your adult children (through December 31st of the year in which he or she turns 26). Their expenses are eligible for the FSA even if they aren’t enrolled in your employer’s health coverage.

Annual Income (before taxes)$50,000$50,000
Pre-tax Medical FSA Contribution($2,500)$0
Pre-tax Dependent Care FSA Contribution($5,000)$0
Taxable Income$42,500$50,000
Estimated Taxes (27%)$11,475$13,500
Available Income$38,525$36,500

Actual savings will depend on your salary, how much you contribute into the FSA, your tax bracket, and how you file your taxes (single, married, etc.).