Published October 11, 2012
Open enrollment is now under way for New York State Flex Spending Accounts, which allow state employees to pay for certain expenses with pre-tax dollars.
The Health Care Spending Account lets employees set aside any amount—from $100 up to $2,500 for the 2013 plan year—to pay for health care expenses that are not reimbursed by health insurance or other benefit plans. These include medically necessary medical, hospital, dental, vision, hearing and prescription drug expenses for employees and their tax dependents.
The Dependent Care Advantage Account allows workers to set aside up to $5,000 in pre-tax salary 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 2013 runs through Nov. 9.
For more information, visit the Flex Spending Account website or call the Flexible Spending Account hotline at 1-800-358-7202.