Flexible spending accounts (NCFlex)

Through the NCFlex Flexible Spending Accounts, faculty have the opportunity to pay for certain out-of-pocket health care and dependent care expenses with pre-tax dollars. All contributions to the FSAs are deducted from faculty pay before federal and Social Security taxes are calculated.

The NCFlex Benefit Program offers two separate flexible spending account choices:

• Health Care FSA — lets faculty pay for certain medical, dental or vision expenses that are not covered by insurance plans.
• Dependent Care FSA — lets faculty pay for certain child or elder care expenses.

Each year, faculty can elect how much they wish to contribute to either or both of these accounts, up to the FSA maximums.

See the NCFlex website.