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.
- 2019 FSA Deadline Extension. Read about the grace period and claims filing deadlines.
To help UVA employees maximize their money for medical, pharmacy, dental, vision, and dependent care expenses, the University has two options: Health care Flexible Spending Accounts (FSAs) and Dependent Daycare Reimbursement Accounts (DCA FSAs). The Health care FSA can be used to pay medical, pharmacy, dental and vision expenses. The Dependent Care Account FSA can be used to pay dependent care expenses. UVA FSA's 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.