Plan For What's Ahead
Flexible Spending Accounts (FSAs) help you plan for certain expenses while reducing your taxes by allowing you to set aside before-tax money to pay for certain health care and dependent day care expenses. Your FSA contributions are taken out of each paycheck before taxes are calculated. FSA plans are provided by ADP FlexDirect.
Health Care FSA
This account allows you to set aside a portion of your before-tax pay to reimburse yourself for eligible health care expenses. Some examples of expenses covered by your health care FSA include medical and dental copays, deductibles, prescription eyeglass or contact lens expenses, orthodontia, certain over-the-counter medications and certain elective procedures not covered by your medical plans.
Dependent Day Care FSA
This account allows you to set aside a portion of your before-tax pay to reimburse eligible dependent day care expenses. Eligible expenses include childcare up to age 13 (the date the child turns age 13). Expenses occurring after a child's 13th birthday are not eligible. You can also use this account to care for a disabled dependent adult.
Child Care Subsidy Grant
To help Stanford faculty and staff meet child care expenses, the Child Care Subsidy Grant (CCSG) program, administered by Stanford's WorkLife Office, provides up to $5,000 a year in tax-free grants for eligible child care expenses. Grant amounts are based on the information in your application. For more information, go to the WorkLife home page or call the WorkLife Office at (650) 723-2660.
Important: Restrictions
FSAs have some restrictions on allowable expenses and any money left in your account at the end of the year will be forfeited. Be sure to read more about these plans and carefully calculate your contribution before enrolling.
-
ADP FlexDirect
www.flexdirect.adp.com
Tel: (800) 654-6695
