A Flexible Spending Account (FSA) allows you to deposit money from your paycheck into a special account before it is taxed, and then use that money to reimburse yourself for eligible expenses. The great advantage is that you pay no federal taxes on your contributions. It costs you less to pay for eligible expenses.
You can set up one or two reimbursement accounts — one for qualifying health care expenses and one for qualifying dependent child care expenses. Reimbursements are processed by PayFlex
, our third party administrator.
This account allows you to pay for predictable health care expenses, like deductibles and copayments, and also other health-related expenses not covered by insurance.
This account gives you a tax-advantaged way to pay for the care of a dependent child or a dependent family member while you are at work.
Contributions to the Healthcare Flexible Spending Account (HFSA) and/or the Dependent Care Flexible Spending Account (DFSA) are subject to New Jersey State Income Tax.
Did you know?
You can count on support from knowledgeable and responsive HR staff when you have a benefits question or problem. Just call or e-mail us. We’re here to help!
While the University intends to continue each of the benefit plans, the University reserves the right to terminate or amend any plan, at any time, and for any reason.