Flexible Spending Accounts
Employees who work at least .75 FTE or greater, and have an assignment for at least six months, are eligible to participate in the OSU Flexible Spending Account (FSA) or Dependent Care Account (DCA) plan. As a participant, you may contribute some of your paycheck to pay for eligible medical and dependent care expenses. Your annual election is divided among the number of paychecks you have in the plan year and the amount is deducted from each check prior to being taxed. You can expect a tax savings on your paycheck by participating in a FSA or DCA plan.
For 2015 and 2016 tax years, the maximum employee contribution to a Health FSA is $2,550. The maximum contribution to a DCA is $5,000 per household.