Flexible Spending Accounts (FSA)

Flexible Spending Accounts

A Flexible Spending Account (FSA) is a plan that allows you to deduct dollars from your paycheck and deposit them into a special account that is protected from taxes. FSA accounts are exempt (known as pre-tax deductions) from federal taxes, Social Security (FICA) taxes and, in most cases, state income taxes. The money in an FSA can be used for eligible health and/or dependent care expenses that are incurred while you are participating in the plan. The IRS has rules about eligible expenses. Learn more on the IRS website and speak with your tax advisor.

Types of FSA's

• Health Care FSA: Covers medical, prescription, dental and vision expenses. The MMA Blue Card Prepaid Benefits Card is a special-purpose MasterCard® that gives you an easy, automatic way to pay for eligible health care expenses. To view a list of eligible expenses, please click here.
• Dependent Care FSA: Covers dependent care expenses including daycare, nursery school and day camp for children, and services for adult dependents who cannot care for themselves. Unlike Health Care FSAs, Dependent Care FSAs only allow you to receive reimbursement up to the actual amount in your account at the time the claim is filed. To view a list of eligible expenses, please click here.
• Limited Purpose Health Care FSA: Covers dental and vision expenses only (for compliance with a health savings account) until you meet your annual medical deductible. To view a list of eligible expenses, please click here.