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Board of Governors of the Federal Reserve System sealBeginnings and beyond: resources and information for employees of the Board of Governors of the Federal Reserve Systemcollage of compass, pen point, and front of Board's main building
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How the Accounts Work
Who Is Eligible
Enrolling In
Health Care Account (HCA)
Dependent Care Account (DCA)
Filing Claims
IRS Limits
How FSAs Affect Other Benefits
When Your Participation Ends
    Flexible Spending Accounts

The Board provides its eligible employees with flexible spending accounts (FSAs).

FSAs allow you to use pre-tax dollars to help pay for certain health care and dependent care expenses. You may choose to participate in one or both of the FSAs offered by the Board:

  • Health Care Account (HCA) for health care expenses not reimbursed by other health or dental plans
  • Dependent Care Account (DCA) for child care or elder care for your dependents while you work

The Health Care Flexible Spending Account is funded entirely by employee contributions.

The Dependent Care Flexible Spending Account is funded by employee contributions and, for eligible participants, by employer credits.

Both FSAs are administered by:

SHPS FSA Administration
P.O. Box 34700
Louisville, KY 40232-4700

If you have questions about the FSAs, please contact the Benefits Section, Management Division.