Spending Accounts
Spending Accounts are a way to set aside pre-tax money to spend on healthcare and dependent care expenses. Through an annual election, payroll deductions put pre-tax money into a spending account that you can draw on when you need to pay for eligible healthcare, dependent care or commuter expenses.
This is a summary of flexible benefit plans for high-level informational purposes only. For complete information on the Intel options, please review the Pay Stock and Benefits Handbook (the “handbook”), Chapter 8. The Handbook is available here and on Circuit.
Spending Account Types
These accounts are made available to you via payroll deductions. Since the money comes out before taxes are calculated, you save money on eligible expenses.
Health Flexible Spending Account (Health FSA)
A Health FSA can be used to pay for eligible out-of-pocket healthcare expenses. This type of spending account complements Intel health options like HMO, Primary Care Plus (PCP), or copay.
Limited Use Health Flexible Spending Account (Limited Use Health FSA)
A Limited Use Health FSA can be used to pay for eligible dental and vision expenses when you are enrolled in a high deductible health option (HDHP) with a Health Savings Account (HSA).
Dependent Care Assistance Program (DCAP)
DCAP can be used to pay for eligible dependent care expenses, such as daycare. The money must be used on dependent care that enables you or your spouse to work.
Commuter Accounts
Commuter Accounts let you set aside money for mass transit, vanpools and parking. The money must be used on expenses associated with commuting or parking for work.
Looking for information on Health Savings Accounts (HSAs)?
Health Savings Accounts are a different type of account that have different rules and benefits. See the HSA module for complete details, or click the button below to see a side-by-side comparison of Health FSAs and HSAs!
Looking for information on Health Savings Accounts (HSAs)?
Health Savings Accounts are a different type of account that have different rules and benefits. See the HSA module for complete details, or click the button below to see a side-by-side comparison of Health FSAs and HSAs!