Flexible Savings Accounts (FSA) allows you to save on income tax by planning and saving for IRS-qualified expenses. Through an FSA account, you can set aside money on a pre-tax basis to cover certain expenses:
- Healthcare expenses: up to $3,050 annually
- Dependent care expenses: up to $5,000 annually
The Healthcare expenses maximum contribution will increase to $3,050 annually for 2024
Important FSA plan details:
- FSAs operate according to IRS guidelines.
- You must enroll for an entire plan year.
- Claims for valid expenses must be submitted by plan deadlines. Any funds that you do not use or claim by established deadlines is forfeited
For more information, visit the PEBB Benefits website, using the following link:
Flexible Spending Accounts
The current administrator for all FSA plans is ASIFlex. Visit their website for more information:
ASIFlex Customer Service Center
Commuter Accounts
In addition to healthcare and dependent expenses, employees may set aside money on a pre-tax basis for work-related commuting expenses. Covered expenses include parking and certain transportation costs based on IRS guidelines. Monthly maximum contributions are set by IRS on an annual basis.
IMPORTANT NOTE: UO parking paid through payroll deduction is collected on a pre-tax basis and is, therefore, NOT eligible for reimbursement from a commuter flexible spending account.
For more detailed information including covered transportation expense and monthly maximums, vist the PEBB Benefits website:
Commuter Accounts
