KEHP offers two Flexible Spending Accounts (FSAs): a Healthcare FSA and a Dependent Care FSA. Both are tax free accounts which let you contribute pre-tax dollars through payroll deductions to pay for certain health care or dependent care expenses.
A Healthcare FSA allows you to pay for certain healthcare expenses such as prescription co-pays, deductibles, physician co-pays, and many others. You can contribute up to $5,000 per calendar year into the account. Any money not used for eligible expenses incurred during the calendar year will be forfeited, so plan your contributions carefully!
A Dependent Care FSA can be used to cover expenses for a family member who is considered a tax dependent. Examples of eligible covered expenses include: medical and prescription co-pays, certain dental fees, orthodontic treatment, vision fees and expenses, and medical equipment.
More information about FSAs can be found here.