Flexible Spending Accounts (FSAs) may be offered to OEBB members by participating employers as a valuable addition to your benefits package. These accounts allow members to save money by paying for qualifying expenses with pre-tax dollars. OEBB-participating employers are not required to offer any or all of these benefits, and they have the option to use any vendor they choose to provide these benefits. If you are an OEBB member, please confirm with your employer which of these benefits are available to you and how to access them.
Types of Flexible Spending Accounts (FSAs)
Healthcare Flexible Spending Account
A Healthcare Flexible Spending Account (FSA) is a pre-tax benefit account used to pay for eligible medical, dental, and vision care expenses that aren't covered by your insurance plan or elsewhere. These healthcare expenses can be incurred by you, your spouse/domestic partner, and/or your dependent children. It's a smart, simple way to save money while keeping you and your family healthy and protected.
HSA-Compatible Flexible Spending Account
If you're enrolled in a qualified high-deductible health plan* and have an HSA (Health Savings Account), you can maximize your savings with an HSA-Compatible FSA. This pre-tax benefit account helps you save on this plan year's eligible out-of-pocket dental and vision expenses while taking advantage of the long-term savings power of an HSA.
*Effective October 1, 2019, the OEBB plans that qualify as a high-deductible health plan are Kaiser Permenente Medical Plan 3 and Moda Health Medical Plans 6 & 7.
Dependent Care Flexible Spending Account
A Dependent Care Flexible Spending Account is a pre-tax benefit account used to pay for dependent care services, such as preschool, summer day camp, before or after school programs, and child or elder daycare. A Dependent Care FSA is a smart, simple way to save money while taking care of your loved ones so that you can continue to work.
Note: This type of account is NOT used to pay for healthcare expenses incurred by your dependents. Pre-tax savings for healthcare expenses, whether incurred by you or your dependents, would be put into a Healthcare Flexible Savings Account as shown above.
OEBB-participating employers each contract independently for FSA account administration services. OEBB does not provide these services nor recommend any particular vendor. If you are an OEBB member thinking about starting an FSA account, check with your employer to learn more about your options.