There are two options available: The Healthcare Flexible Spending Account for health-related expenses and the Dependent Care Reimbursement Plan for dependent care expenses.
The provider for both plans is Total Administrative Services Corporation (TASC).
A Dependent Care Reimbursement Plan is a pre-tax benefit account used to pay for dependent care services like preschool, summer day camp, before or after-school programs, and child or elder daycare services.
The Healthcare Flexible Spending Account (HFSA) allows you to stretch your budget further. The HFSA is a voluntary pre-tax benefit plan that allows you to set aside money from your paycheck to be used to pay the out-of-pocket medical, prescription, dental and vision expenses that you and your eligible dependents incur.
You never pay taxes on the money you put into your account, giving you more bang for your buck when you use pre-tax money to reimburse qualified healthcare expenses.
After enrollment, you will receive a TASC Card. Use your TASC Card to pay for eligible expenses at the point of purchase instead of paying out-of-pocket and requesting a reimbursement.
Four factors to keep in mind when selecting an election amount:
The HFSA maximum rollover amount is $500. Any amount left above $500 will be forfeited.
Dependent Care Reimbursement Plan (DCRP) enrollment is held in November 2022. Plan changes are effective January 1 - December 31, 2023. The maximum contribution for DCRP for 2022 is $5,000 (family); $2,500 (married filing separately).
TASC’s web and mobile tools ensure easy access, account management, and benefit fund security for you.
Your one-stop online access to all enrolled accounts includes:
Track and manage all TASC benefits and access helpful tools, anywhere and anytime—with just one app! The TASC mobile app includes special features that make it easy to keep TASC accounts safe and secure.
|Minimum contribution||$240.00 a year|
|Maximum contribution||$2,550 a year|
|Plan year||May 1, 2022 - April 30, 2023|
|Incur claims||May 1, 2022 - April 30, 2023|
|Deadline to file claims||July 31, 2023|
|Administrator||Total Administrative Services Corporation|