How the Program Works
The Flexible Benefits Program allows you to use your annual base salary to your best advantage. It offers the following components:
- Automatic Before-tax Health, Dental, and Accident Insurance Contributions. If you participate in the Boston University Health Plan, the Boston University Dental Health Plan, or coverage under the Personal and Family Accident Plan, you will automatically pay your insurance premiums with before-tax dollars. The Flexible Benefits Program does not change the eligibility, benefits, or other features of those plans. It does offer, however, a way to pay the required employee premiums on a before-tax basis.
- Flexible Spending Account – Dependent Care: This voluntary reimbursement account is designed to help you pay for the cost of care for your eligible dependents.
- Flexible Spending Account – Health Care: This voluntary reimbursement account is designed to help you pay for the cost of health care expenses not covered by the group insurance plans.
Under current tax laws, contributions to the Flexible Benefits Program are free from federal income taxes, state income taxes, and Social Security taxes.