Officers - Tax Savings Accounts

Save money every year by using pre-tax funds for eligible healthcare, dependent care and commuting expenses.

The University offers Flexible Spending Accounts (FSA)s, including Healthcare and Dependent Care FSAs, Health Savings Account (HSA), and the Transit/Parking Reimbursement Program (T/PRP) account. Using these tax savings accounts could save you hundreds of dollars on eligible expenses.

If you enroll in the 80, 90 or 100 Choice Plus plan or do not to enroll in medical coverage through the University: You can enroll in a Healthcare FSA.
If you enroll in the HDHP: You can enroll in an HSA or the Healthcare FSA, but not both.
If you are enrolled in a Univerity medical plan or not, you can enroll in the T/PRP and Dependent Care FSA.

Tax Savings Accounts Overview

Account type: Healthcare Flexible Spending Account (FSA)
Eligible expenses: Not available if you elect the HDHP with an HSA. You cannot elect an HSA and an FSA in the same calendar year, or elect an HSA and have an FSA balance rollover in the same calendar year.
Annual contribution limits and other notes: Set aside up to $3,200 on a pre-tax basis to pay for healthcare expenses during a single calendar year. Roll over up to $640 from one year to the next.*

Account type: Health Savings Account (HSA)
Eligible expenses: You may not contribute to the HSA while you are enrolled in any of the Choice Plus Plans; however, if you have an HSA balance, you can continue to use it for new expenses.
Annual contribution limits and other notes: Set aside up to $4,150/year as an individual or $8,300 as a family on a pretax basis to pay for healthcare expenses during a single calendar year. Rolls over from year to year.*

Account type: Dependent Care FSA
Eligible expenses: Dependent care expenses, such as day care, after-school programs or elder care programs, for children under age 13 or elder care so you and your spouse can work or attend school full-time
Annual contribution limits and other notes: Maximum: $5,000 ($2,500 if married and filing separate tax return)*

Account type: Transit Reimbursement Account
Eligible expenses: Expenses for transportation to or from work on a subway, train, bus or ferry
Annual contribution limits and other notes: Maximum: $315 per month*

Account type: Parking Reimbursement Account
Eligible expenses: Expenses for work-related parking at or near your workplace or a commuter lot where you transfer to a vanpool or mass transit
Annual contribution limits and other notes: Maximum: $315 per month*

_{* IRS limits are subject to change.}

You and/or your tax dependents don’t need to be enrolled in a University health plan to participate in an FSA. To manage FSA expenses, go to myuhc.com; click “Register Now;” use your Social Security Number as your member ID; use 902784 for the group/policy number.

Officers - Tax Savings Accounts

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