New Benefits Alert! Flexible Spending Accounts for Service Members

Posted on November 4, 2024 Updated on October 29, 2024

Flexible Spending Accounts allow Service members to set aside a portion of their pay before taxes are deducted, to pay for dependent care and health care expenses.

There are two types of FSAs:

Dependent Care Flexible Spending Account (DCFSA): DCFSAs allow Service members to set aside between $100 – $5,000 per household in pre-tax earnings each year to pay for expenses such as day care, preschool, Child Development Center (CDC) fees, and elder care. DCFSAs support Service members and families to allow them (and their spouse if married) to work, look for work, or attend school full time.

Enroll in a DCFSA during Federal Benefits Open Season, November 11 to December 9, 2024, at https://www.fsafeds.gov/enroll.

To continue using a DCFSA, you must re-enroll during 2024 Federal Benefits Open Season.

Coming Soon! Health Care Flexible Spending Accounts (HCFSA). HCFSAs allow Service members to set aside between $100 – $3,200 per household in pre-tax earnings each year to pay for health care expenses such as co-pays, cost-shares, deductibles, glasses, braces, and more.

Enroll in an HCFSA for the first time in Spring 2025 during a special enrollment period for Service members from March 3 – 31, 2025.

Am I eligible for an FSA? Find out about eligibility and more at https://finred.usalearning.gov/FSA.

Do you need more information to determine if this benefit is right for you and your family? Free personal financial managers and counselors are available to you through Military OneSource (800-342-9647) and at your local military installation (https://finred.usalearning.gov/pfcMap.)

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Delivered by Defense Finance and Accounting Service