Flexible Spending Account (HCSA/DCAA)
Dependent Care Advantage Account and Health Care Savings Account
The DCA Account is a flexible spending account program governed by the regulations of the Internal Revenue Service. The program provides State employees with the opportunity to pay for child care, elder care, or other dependent care expenses on a pre-tax basis. Participation in this program allows employees to set aside up to $5,000 annually in pre-tax salary to pay for their dependent care expenses. The average employee who participates in the DCA Account saves more than $1,500 annually on their dependent care expenses!
The new HCS Account is another type of flexible spending account program that allows eligible State employees to set aside from $150 to $3,000 annually in pre-tax salary to pay for health-related expenses that are not reimbursed by health insurance. Medically necessary medical, dental, prescription, vision and hearing expenses for enrollees and their dependents are eligible for reimbursement.
The open enrollment period for these plans is usually in the fall. Participants who are currently in the DCA Account must re-enroll each year if they wish to continue their benefits.
If you need additional information, or wish to obtain an enrollment kit, please call 1-800-358-7202 or visit (FSA). Additional forms for the plan can be downloaded at (FBMC). If you have any other questions or need further assistance, please contact your Benefits Administrator. State Administrators or Community College Administrators