Flexible Spending Accounts (FSA)
Flexible spending accounts (FSA) allow you to set aside funds on a pre-tax basis to reimburse yourself for eligible out-of-pocket dependent care or medical expenses. Because the dollars you place in these accounts are taken out of your pay before they are taxed, you lower your taxable income, thereby saving you money on federal, Social Security and state taxes. The County offers two types of Flexible Spending Accounts administered by BCC:
Medical Reimbursement Account - allows you to use "pre-tax" dollars to pay for eligible healthcare expenses not covered by your County medical, dental or vision plans. Due to Health Care Reform, the maximum amount you may contribute to a Healthcare Spending Account for the 2020 Plan Year is $2,700.
Dependent Care Reimbursement Account - allows you to use "pre-tax" dollars to pay for eligible dependent care expenses. You may elect up to $5,000 annually.
PLEASE NOTE, you must re-enroll for Flexible Spending Accounts each year during Open Enrollment, enrollment is not automatic.
You can view your balance, check claim status, or submit claims by logging on to https://www.mywealthcareonline.com/bccsmartcare.
For more information visit: Health Care and Dependent Care Flexible Spending Accounts FAQ