Flexible Spending Account (FSA)
What is a Flexible Spending Account (FSA) and how do I enroll?
A Flexible Spending Account (FSA) lets you pay for out-of-pocket health care and dependent care expenses with pre-tax dollars. The annual limit for 2018 is $2,650 for healthcare expenses and $5,00 for dependent care expenses. Any funds remaining in your account at the end of the year are nonrefundable.
A Medical Expense Reimbursement Account covers medical, dental, and vision expenses that are only partially covered or not covered at all by your insurance, including insurance deductibles, copayments, and prescriptions.
A Dependent Care Reimbursement Account covers expenses for daycare centers. babysitters, caregivers, or after-school programs so that you and your spouse can work.
If you are a non-represented employee or an eligible represented employee, you may enroll in the FSA Program during the annual enrollment period, November 1-December 15 by contacting P&A Group at 800-688-2611 or visiting their website: www.padmin.com .
New Hires may enroll on the 91st day of employment or if it is open enrollment time they may enroll sooner between November 1-December 15. To find the FSA enrollment guide and New Hire Enrollment form, go to the My Tax Favored Programs ribbon on the My MTA Porta homepage, then click the FSA link.