Spending and Saving Accounts

You can establish an FSA to pay out-of-pocket healthcare and/or dependent care expenses for you and your family members with dollars that are never taxed.

Your contributions are deducted from each bi-weekly paycheck before taxes are calculated and withheld, lowering your taxable income.

Healthcare FSA

Use the Healthcare Account to pay out-of-pocket healthcare expenses for you and anyone you claim as a dependent on your federal income tax return – as well as children to age 26, regardless of whether they are dependent upon you – and whether or not they are enrolled in Montefiore’s medical and/or dental plans. You may contribute up to $3,300 each year to this account.

Dependent Care FSA

Use the Dependent Care Account to pay day care related expenses for children under age 13 and/or an incapacitated adult you claim as a dependent on your federal income tax return. The care must be necessary so that you (and your spouse if you are married) can work. You may contribute up to $5,000 each year to this account.