Vassar offers Flexible Spending Accounts (FSA) which are pre-tax payroll deductions. Flexible Spending Accounts pay dependent care expenses and health care expenses that are not covered by an employee benefit plan. These accounts are available to all benefit-eligible employees. Click below for information and resources.
- Flex Spending Accounts
- Transit and Parking Flex Spending Accounts
- ASI Flex Spending
- Flexible spending accounts are designed to reduce taxes by using pre-tax income to pay for unreimbursed medical, dental, vision and/or dependent care expenses. Employees who have an HSA are not eligible for a regular medical flex spending account but may elect a ‘limited scope dental-vision’ flex spending account for excess dental or eyewear expenses. The IRS sets the annual maximum contribution amounts for medical and dependent care flex spending accounts.
- For employees using public transportation to commute to work, the College offers transit and parking flex spending accounts. These accounts have monthly, rather than annual, contribution limits and can be changed during the year.