What type of FSA plans does BlueCross BlueShield of Tennessee offer?
• Health Care FSA With a Health Care FSA, your employees can pay for eligible health care expenses on a pre-tax basis, cutting costs by reducing their federal income tax, FICA tax and, as applicable, their state income taxes. Health Care FSAs cover an extensive list of eligible, reimbursable expenses, as defined by IRS Code Section 213(d). • Dependent Care FSA Many employees who have children under the age of 13 pay dependent care expenses. Your employees pay these expenses to ensure that during working hours, their children get the attention and care they need. For dependent care expenses, Dependent Care FSAs may provide more tax advantages than the federal income tax credit for your employees. • Limited-Purpose FSA If you offer one of our HSA-Compatible High-Deductible Health Plans paired with a Health Savings Account (HSA), you may offer only a Limited-Purpose FSA to those employees that have an HSA. The Limited-Purpose FSA is designed to complement the HSA and may be established to
