Full-Time employees (80% FTE or better) who waive health insurance will receive $175 per month in a flexible spending account (health care or dependent care).
Health Care Accounts: FSA funds will be deposited for employees and their dependents to use for medical, dental, vision, and prescriptions.
Dependent Care Accounts: FSA funds can be deposited for employees to pay daycare expenses for a dependent child under the age of 13 or elder care for an eligible adult.
In the event that an employee chooses to take the dependent care option, they must sign up for it each year during open enrollment. Employees who choose to take the health care account option will automatically be defaulted each year.
For answers to questions regarding what qualifies as appropriate daycare or elder care expenses, please contact Chard-Snyder (our plan administrators) at 1-800-982-7715 or look on their website at www.chard-snyder.com.