Flexible Spending Account (FSA), and
Dependent Care Account (DCA)
About the Plans
A Flexible Spending Account (FSA) is a special account to which you can deposit funds that are earmarked to pay for certain out-of-pocket healthcare costs. You do not pay taxes on money deposited to an FSA. An FSA account can be used to pay expenses such as:
- Prescription drug co-payments
- Non-covered dentist or other provider fees
- Health plan deductibles and coinsurance
- Doctor and emergency room co-payments
- Contact lenses, eyeglasses, and LASIK surgery
- Mail service and online prescription co-payments and deductibles
- Various over-the-counter items (per current regulations)
- Click to view a more comprehensive list of eligible expenses
A Dependent Spending Account (DSA) is an account to which you can deposit funds that are earmarked to pay for dependent care costs. You do not pay taxes on money deposited to a DSA.
The difference between a Medical FSA and Dependent Care FSA:
A Flexible Savings Account (FSA)
Saves you taxes on money contributed which you can then use to pay for eligible health care expenses (medical, dental, and vision) not covered or only partially covered by our plans.
A Dependent Care Account (DCA)
Is an account that you fund to pay for childcare expense (such as a daycare provider, nanny, preschool, after school program, etc.) up to age 13 and for dependent adults.
For more information, Contact Sentinel Benefits Client Service Center at 888.762.6088.
Review the linked Plan Documents & Summaries to learn more.