Flexible Spending Accounts
Flexible Spending Accounts give you a way to take home more money in every paycheck! Your eligible insurance premiums and dependent care expenses are deducted from your gross salary - before taxes. Therefore, you pay less in taxes and your spendable income increases.
There are three flexible spending options:
1. Premium Conversion- Having insurance premiums deducted before taxes.
2. Health Care Flexible Spending Accounts - Reimbursement of medical expenses before taxes.
3. Dependent Care Flexible Spending Account - Reimbursement of employment related dependent care expenses before taxes.
Philander Smith College is currently in contract with DataPath Administrative Services for serving of the Flexible Spending Account program.
Flexible Spending Information