Flexible Spending Account
The County offers benefits-eligible employees two pre-tax flexible spending accounts (FSAs) — a Health Care Flexible Account and a Dependent Care Assistance Account — administered through Voya Financial (Voya), previously known as Benefit Strategies.
These accounts allow you to pay for eligible, out-of-pocket health and/or dependent care expenses. Every plan year you must designate the amount to be set aside in your FSAs. These accounts must be renewed each year during open enrollment for the following plan year. If the enrollment process is not completed, the FSA will be canceled.
You do not have to enroll in a County medical plan to enroll in a tax-free account.
Note: If your employment ends or your eligibility for the FSA ends during the Plan Year, you cease being eligible to use your Health Care FSA and/or Dependent Care FSA funds for new expenses as of midnight on the day of termination and your debit card will be inactive. You will be able to submit claims for eligible health care expenses incurred on or before your termination date through your runout period.
Health FSA
A Health Care Flexible Spending Account (HCFSA) - administered through Voya. This Health Care Flexible Spending Account (HCFSA) allows you to set aside pre-tax money to pay for eligible health care expenses for you and your qualified dependents.
Examples of eligible expenses may include health plan deductibles, copayments, and coinsurance; eye exams, contact lenses, and glasses; prescription drugs; dental care, including orthodontia; and over-the-counter (OTC) products with a physician’s prescription. You do not have to enroll in a County medical plan to participate in an FSA through Prince George’s County Government.
You can contribute up to $3,050 annually to a Health Care FSA, and your entire annual election is eligible to be reimbursed prior to you having the full amount deducted from your pay. Deductions for the HCFSA reduce the gross income on your Form W-2 for federal and social security tax purposes. Employees have the opportunity to rollover up to $610 in unused funds from the previous calendar year for the Health Care Flexible Spending Account. All receipts for expenses must be submitted by March 31st of each calendar year.
This is a partial list of eligible expenses. For a more complete list of eligible healthcare expenses, view IRS Publication 502.
Dependent Care FSA
The County offers benefits-eligible employees two pre-tax flexible spending accounts (FSAs) — a Dependent Care Assistance Account — administered through Voya. Examples of eligible expenses are Licensed day care, in-home care, elder care, day camp and nursery school (if expenses are for a dependent child, the child must be under age 13). You can contribute up to $5,000 per year, if single or married and filing joint income tax returns. All receipts for expenses must be submitted by March 31st of each calendar year. For dependent care expenses, view IRS Publication 503.
Voya Financial - 2023 Plan Materials: