Flexible Spending Accounts (FSA) provide an IRS-approved tax savings program for medical and dependent care expenses which you would normally pay out of pocket using your after-tax income. This is a voluntary benefit offered by Ball State University, and you must re-enroll each Plan Year you wish to participate.
You elect an annual amount to contribute to the Medical ($2,500 maximum) or Dependent Care Flexible Spending Accounts ($5,000 maximum). This amount is divided by the number of pay periods for each employee classification, and this pre-tax amount will be deducted from each pay during the year.
To check eligible expenses, go to: FSA Eligible Expenses (PDF).
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