Flexible Spending Account (FSA) Program FSA allows you to set aside money on a pre-tax basis to pay for out-of-pocket medical and/or dependent care expenses. Enrolling in FSA can save you up to 40% on each dollar set aside (the actual amount saved varies based upon your tax bracket). All permanent part-time (15 hours or more each week) or full-time limited term or permanent full-time (30 hours or more each week) employees are eligible to participate in this program on the 1st of the month after completing an initial waiting period of three full months. There are two types of FSA programs (Health Care and Dependent Care). The Health Care FSA allows for a tax break on expenses incurred by you and any of your tax dependents. Your dependents do not have to be on the State of Delaware’s health insurance program in order for expenses to qualify through the FSA. Eligible expense examples include co-pays, co-insurance, deductible, prescription and many over-the-counter medications, dental and orthodontia work, glasses and contact lenses. The Dependent Care FSA allows for a tax break on childcare or elder care (if you have an older dependent that lives with you and is incapable of self-care) so that you, or you and your spouse can attend work, look for work or be a full-time student. Eligible expense examples include daycare, before and after school care, and general purpose day camps. Program Administrator - ASI
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