Flexible Spending Account (FSA)

The Healthcare Flexible Spending Account

The Healthcare Flexible Spending Account (HCFSA) provides a way to save significant amounts of money on your healthcare expenses. You can contribute to the account on a pre-tax basis and use the money to pay for eligible healthcare expenses during the year. The result is that you’ll save federal income tax, state income tax and Social Security tax on the amount you contribute to the account. The more you contribute – the more you can save! Many people find it a cost-effective way to pay for health plan deductibles/co-payments, eyeglasses, contact lenses, orthodontics, and other health-related expenses that are not covered by insurance. Even if you do not itemize deductions on your tax returns, you can take advantage of this tax break by using the Healthcare Flexible Spending Account.

Who Should Enroll?

The Healthcare Flexible Spending Account can be beneficial for anyone who has eligible out-of-pocket medical, dental, vision, or hearing expenses beyond what their insurance plans cover. They can save by paying for these expenses with tax-free dollars.

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The Dependent Care Flexible Spending Account

The Dependent Care Flexible Spending Account (DCFSA) provides a way to save significant amounts of money on dependent care expenses. You can contribute to the account on a pre-tax basis and use the money to pay for eligible dependent care expenses during the year. The result is that you’ll save federal income tax, state income tax and Social Security tax on the amount you contribute to the account. The more you contribute – the more you can save!

Who Should Enroll?

The Dependent Care Flexible Spending Account is generally beneficial to anyone who has a qualified dependent and pays for eligible dependent care expenses. They can save by paying for these expenses with tax-free dollars.

 

Flex Card

For expenses incurred in 2015, please contact:

www.tasconline.com

TASC Customer Service: 1-800-422-4661