Flexible Spending Accounts
COVID-19 CARES Act Communication:
- Learn how the Federal CARES Act Impacts Your Health FSA/HSA. Read the message from Chard Snyder.
- COVID-19 related information for Dependent Care Accounts DCA FSA. Read Qualified Life Events.
To help UVA employees maximize their money for medical, pharmacy, dental, vision, and dependent-care expenses, the University has two options: Flexible Spending Accounts (FSAs) and Dependent Daycare Reimbursement Accounts. UVA FSAs, including Dependent Daycare Reimbursement Accounts, are managed by Chard Snyder.
FSAs enable you to pay for certain expenses on a pre-tax basis, making your money go farther. For example, setting aside $5,000 in a Dependent Daycare Reimbursement account enables you to spend the whole $5,000 on daycare. Receiving the $5,000 in pay would leave roughly $3,500 after taxes for daycare expenses.