All regular full-time and regular part-time staff eligible for Bucknell's regular benefits program are eligible to participate in a health care and/or dependent care flexible spending account to pay for certain health and dependent care expenses while reducing federal income and social security taxes. Use of the accounts is voluntary and is subject to IRS regulations. Each year, staff members decide whether, and how much, to contribute to one or both accounts for the following year. New staff members may begin to participate on the first of the month following their employment dates.
Health Care Spending Accounts
FlexAmerica Flexible spending accounts provide a solid plan that will allow employees to defer income on a pre-tax basis to pay for expenses not covered by their health plan.
Works in conjunction with any health plan and covers eligible medical expenses such as co-pays, eye glasses, contact lenses, root canals, deductibles, and co-insurance.
Employees annually elect the amount of pre-tax money to be allocated for out of pocket medical expenses.
Weekly claims processing and debit card technology enable swift claims reimbursement.
Provides a benefit for all employees, including those who do not participate in the company sponsored medical/dental/vision plans.
Employers and employees save taxes!
Dependent Care Spending Account
Dependent care expenses contribute to a significant portion of household expenditures. Employers can save on payroll taxes and employees can defer income on a pre-tax basis for dependent care expenses by participating in the FlexAmerica Dependent Care Account.
In home care After school programs
Day care Preschool
Elder Care Day camp
After School Programs
Preschool
Day Camp
Due to the high cost of dependent care, reimbursement claims tend to be large. FlexAmerica’s dependent care solution offers a debit card for use with those entities that can accept a card. For those that do not, FlexAmerica reimburses dependent care claims on a weekly basis. If the claim is received by FlexAmerica on Tuesday, reimbursement is made by Thursday.
Additional Resources
Health Care Expense Calculator
Forms