Flexible Spending Account & Dependent Care

FSA (Health) Open Enrollment Form
DCSA (Dependent Care) Information/Form

FSA & DCSA OFFERING 

This is an annual election that you must enroll in annually.

A Flexible Spending Account (FSA) is an IRS approved benefit that allows you to set aside money on a TAX FREE basis to pay for unreimbursed healthcare or dependent care expenses. There are two types of FSAs.

Healthcare FSA allows you to use pre-tax dollars for out-of-pocket medical, dental and vision expenses. You can use your Health FSA dollars to pay for qualified medical, prescription drug, dental and vision expenses. For 2018, the minimum annual contribution is $100 and the maximum contribution is $2,650.

Dependent Care FSA (DCAP) allows you to use pre-tax dollars to pay for child, adult or disabled dependent day care services so you can work. For 2018, the minimum annual contribution is $100 and the maximum contribution is $5,000.

You can enroll in both FSAs, but you cannot use funds in one to pay for expenses in the other. Pre-tax contributions are deducted from your pay in equal amounts throughout the year.

2019 UPDATE: IRS Health FSA and Transportation/Parking Changes
 
The IRS has officially released notification that a change has occurred regarding health flexible spending accounts and transportation/parking limits. This may impact your 2019 plan year, so please contact BAI if you have any additional questions or concerns. At this time, Dependent Day Care FSA has remained at $5,000 for 2019. Please see attached for details.

Reminder for 2019 Renewal

BAI must hear from you in order to continue your plan(s).  If you will not be renewing your plan(s) with us for the 2019 plan year, please advise in writing so that we can update our records.  BAI along with the Payroll Manager at RBOE are here to help assist you with any changes that may apply to RBOE's specific needs. 

BAI Changes for 2019