Healthcare FSA
A healthcare FSA is an account in which you accumulate funds, through pretax pay deductions, for certain medical, dental, vision, and other healthcare expenses not paid by any health plan.
Dependent care FSA
A dependent care FSA is an account where you accumulate funds, through pretax pay deductions, for certain child and elder care expenses while you work or go to school.
Contributions
You may contribute up to annual limits set by the IRS. Your contribution for the year is prorated and deducted in equal amounts each pay period.
How to enroll in an FSA
You may elect a healthcare and/or dependent care FSA, if offered by your employer, when you are first eligible and during Annual Enrollment in the fall. Elections do not automatically renew; you must enroll each year. Participation is effective upon enrollment. You may not enroll retroactively.