Published October 8, 2015
Open enrollment is now under way for New York State Flex Spending Accounts, which allow state employees to pay for certain dependent care or health care expenses with pre-tax dollars.
The Health Care Spending Account lets employees set aside any amount — from $100 up to $2,550 annually — to pay for health care expenses that are not reimbursed by health insurance or other benefit plans. These include medical, hospital, laboratory, prescription drug, dental, vision, and hearing expenses for employees and their tax dependents.
The Dependent Care Advantage Account allows workers to set aside up to $5,000 for eligible child care, elder care or disabled dependent care expenses that are necessary for the employee and his or her spouse to work.
The open enrollment period for 2012 runs through midnight Nov. 9.