Spending Accounts
Manage Healthcare Expenses While Saving for the Future
Montefiore Einstein is made up of many different employee groups, each with benefits tailored to support their unique needs. Depending on your role and the benefits available to you, HealthyME spending accounts can help you save on eligible health care, dependent care and/or commuting expenses. These accounts, governed by the Internal Revenue Service (IRS) let you use pre-tax dollars—contributions are deducted from your paycheck before taxes—helping reduce your taxable income while making it easier to manage everyday expenses.
You may be eligible for one or more of the following accounts:
- Healthcare Flexible Spending Account (HCFSA)
- Dependent Care Flexible Spending Account (DCFSA)
- Limited Purpose Flexible Spending Account (LPFSA)
- Health Savings Account (HSA)
All accounts are administered by MyChoice Accounts. You can manage your spending accounts directly on the HealthyME Benefits Center or the MyChoice Benefits App™ (more information below).
Log into the HealthyME Benefits Center to:
- View information about the accounts you can choose to enroll in and read more below about how to use them.
- Manage your MyChoice Accounts throughout the year by viewing your balance and claims submitted, submitting receipts for expenses paid for with your MyChoice Accounts debit card or submitting claims for reimbursement for expenses you pay out-of-pocket.
Or, download the MyChoice Benefits App™ from the Apple Store or Google Play and manage your account(s) securely and conveniently on the go:
- View account summaries and balances
- Pay eligible expenses
- Track transactions
- Request reimbursements
- Upload claims
IMPORTANT! Be sure to hold on to your receipts as you may be required to provide proof that an expense is eligible.
Watch: This video explains why it’s important to keep your spending account receipts and how to submit a claim.
Please note: If you forget or do not submit requested documentation, your card can be suspended until you provide or substitute documentation, or repay the claim amount.
Healthcare Flexible Spending Accounts (HCFSA) can be used to pay for a wide range of out-of-pocket healthcare expenses for yourself, your spouse and your eligible dependents, including:
- Medical copays, co-insurance and deductibles
- Dental and vision care
- Prescription and over-the-counter medications
- Items such as sunscreen, first-aid supplies and more
Be sure to keep your receipts, as you may be required to provide documentation to verify that expenses are eligible. Any unsubstantiated card transactions after 120 days will result in card suspension. Please refer to the Documentation Checklist and video on the right side of your screen for more details.
Contributions and Tax Savings
You may contribute up to $3,400 in 2026, as allowed by the IRS.
HCFSA contributions are not subject to federal income or Social Security taxes, meaning they lower your taxable income and help you save money on eligible expenses.
How the HCFSA Works
- Set your contribution: You choose your annual contribution, which is divided evenly across the pay periods left in the calendar year and deducted from each paycheck. To participate or make changes to your contributions, you must enroll as a new hire, during Annual Open Enrollment held each fall or as the result of a qualifying life event (e.g., marriage or a new child).
- Access your funds immediately: Your full balance is available for you to use at the beginning of the plan year.
- Pay for eligible expenses: Use your MyChoice Accounts debit card or pay out of pocket and submit a claim for reimbursement through the MyChoice Benefits App™ or the HealthyME Benefits Center.
View a List of Eligible Expenses →
Important Deadlines and Rules
- You must determine your annual contribution when you enroll. Mid-year changes are only allowed if you experience a qualifying life event (e.g. marriage or new child)
- Note: If you are enrolling as a new hire, your contribution amount is divided evenly across the pay period left in the calendar year. Take that into account as you choose how much to contribute
- You can incur expenses through March 15 of the following year
- You must submit all reimbursement requests by April 30 of the following year
- Any remaining balance after April 30 is forfeited; funds do not carry over from year to year
- You must re-enroll each year during Annual Open Enrollment to participate. Your contribution election will not carry over from one calendar year to the next
Resources
Documentation Checklist
In order to comply with IRS rules, we will want to see the following information on your documentation:
- Person who received service
- Amount paid for service
- Service/Item
- Provider name and address
- Date of service
- Description of service: category and type
MyChoice Accounts Visa Debit Card
Discover how to activate your MyChoice Accounts debit card and start using it for eligible healthcare, transit, and dependent care expenses.
Log in to View Your Personal Benefits Information and to Take Action
Log in to the private and secure part of the website to review the specifics of the coverage you are enrolled in, find plan documents and change your benefits when you experience a qualifying life event. Ask Sofia, your personal benefits assistant, if you need help finding information or understanding your benefits.