A flexible spending account can help reduce your out-of-pocket healthcare or dependent care expenses. Inova offers:
- Dependent care account – designate up to $5,000 annually. If married filing separately, designate up to $2,500
- Healthcare account – designate up to $3,000 a year
The Internal Revenue Service sets the guidelines for eligible expenses. You may participate if you are budgeted to work 16 hours or more a week.
