| Flexible Spending Accounts |
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PEBB offers both healthcare and dependent care flexible spending accounts (FSAs) for eligible employees.
An FSA is a tax-free account that allows you to use pre-tax dollars to pay for eligible out-of-pocket healthcare or dependent care expenses. You choose an annual amount to contribute to your account, and your payroll deducts your salary contribution (which must be at least $20) before calculating your taxes. Paying for eligible expenses with these pre-tax dollars saves money.
Here are things you should know about these accounts.
- FSAs operate according to IRS regulations.
- When you enroll, you enroll for the entire plan year, so you should plan accordingly.
- The minimum monthly contribution amount is $20.
- You may change your contribution amount midyear only within 60 days of a midyear plan change.
- You forfeit any funds that you don’t use and claim for valid expenses by the deadline.
- Your payroll will deduct even portions (which must be at least $20) of your annual total election amount from each paycheck over the course of the year. For academic-year employees, this may be nine or 10 months.
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Please see PEBB’s Oregon Administrative Rules and Summary Plan Desription for details about the FSA program.
These are individual tax-favored accounts; PEBB does not provide tax advice. Please seek tax advice from a qualified tax advisor.
PEBB contracts with ASIFlex to administer the FSA program under PEBB administrative rules and in keeping with IRS regulations. View the FSA Summary of Benefits provided by ASIFlex For more information visit ASIFlex online http://orpebb.asiflex.com/ |
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