Flexible Benefits Program
The Flexible Benefits Program offers you a substantial tax savings opportunity. It allows you to pay for eligible expenses using tax-free dollars — money taken out of your paycheck before income or Social Security taxes have been deducted.
The program has three components:
- Automatic Before-Tax Health Care and Accident Insurance Contributions
- Flexible Spending Account – Dependent Care
- Flexible Spending Account – Health Care
Because of its tax-exempt features, the federal government strictly regulates the Flexible Benefits Program. If you would like to participate in the program, you may want to discuss how the program may benefit you with your own tax advisor or financial planner.