The Health Care FSA provides you the opportunity to have funds deducted from your pay on a pre-tax basis for health care expenses for yourself AND your dependents. These funds can be used for expenses that are not covered by your medical, dental, or vision plans such as copays, coinsurances, etc. Eligible health care expenses examples are:
- Medical, dental, and vision deductibles, co-insurance, and office visits
- Prescriptions
- Eligible over-the-counter drug expenses
The Dependent Care FSA provides you the opportunity to have funds deducted from your pay on a pre-tax basis for dependent care ("daycare") expenses for your eligible dependents. Dependent Care FSA funds become available with each payroll deduction. Eligible expenses examples include:
- A child under age 13 and who is claimed as a dependent on your taxes.
- A child 13 and older who: 1) depends on you for at least half of their support; 2) regularly spends at least eight hours a day in your household; and 3) is physically or mentally unable to care for him/herself.
- Summer day camps
- Before and after school care
- Extended day programs
- Elderly daycare
Learn even more about FSAs with PNC Bank's Flexible Spending Account Educational Library (PDF).
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