The Flex Spending Account is a state benefit that allows eligible employees to pay for certain expenses with pre-tax dollars. The account offers three benefits: Health Care Spending Account (HCSAccount), Dependent Care Advantage Account (DCAAccount), and Adoption Advantage Account.
Health Care Spending Account
The HCSAccount allows employees to set aside from $100 to $3,200 annually in pretax salary to pay for health-care expenses not reimbursed by health insurance.
Dependent Care Advantage Account
The DCAAccount allows employees to set aside up to $5,000 annually in pretax salary for eligible child care, elder care, or disabled dependent care expenses. An employer contribution is available to employees based on salary.
Adoption Advantage Account
The Adoption Advantage Account allows employees to set aside up to $16,810 in pretax salary for expenses related to the adoption of an eligible child.
The 2024 plan year employer contribution rates for eligible employees:
If your salary is... | The employer contribution is... |
---|---|
under $30,000 | $1000 |
$30,001 - $40,000 | $900 |
$40,001 - $50,000 | $800 |
$50,001 - $60,000 | $700 |
$60,000 - $70,000 | $600 |
over $70,000 | $500 |
What’s the catch? Use-it-or-lose-it!
You must estimate your expenses carefully. If you overestimate your costs, you lose any money that remains in your account at the end of the calendar year.
Eligibility Requirements and Enrollment
For program details or to enroll in the FSA, visit www.flexspend.ny.gov or call the FSA hotline at 1-800-358-7202.
Some content on this page is saved in PDF format. To view these files, download Adobe Acrobat Reader free. If you are having trouble reading a document, request an accessible copy of the PDF or Word Document.