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Health Care and Dependent Care Flexible Spending Accounts

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Description

Postdocs have the option to participate in one of Penn’s two types of Flexible Spending Accounts (FSA): a Health Care FSA and a Dependent Care FSA. These plans are administered by WageWorks/ HealthEquity. They provide you with a way to pay for certain out-of-pocket expenses with pre-tax dollars. They’re designed to save you taxes when you pay for certain eligible expenses that are not covered by other benefit plans. You can elect a maximum of $3,050 for Health Care and $5,000 for Dependent Care. You have until the end of the plan year to incur expenses and until the end of September of that year to submit eligible claims for services you received before the end of the plan year.

For more information go to www.wageworks.com or review the Postdoctoral Researchers and Fellows Benefits Enrollment Guide.

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