What are Flexible Spending Accounts (FSAs)?
Flexible Spending Accounts (FSAs) can help you pay for certain health care and dependent day care expenses with tax-free dollars. Participation is entirely voluntary, and you don’t need to be enrolled in any other PetSmart plans to participate. There are two types of FSAs: • The Health Care FSA can help you pay out-of-pocket expenses that insurance doesn’t cover, such as copays and deductibles. • The Dependent Day Care FSA can help you pay for things like dependent care provided in your home or outside your home, such as child or elder day care. You can deposit $100 – $5,000 in each account every year (IRS limits may apply to your dependent care account). Your contributions are automatically deducted from your gross pay and set aside in your account. You can use the money in your account to pay for eligible expenses.
