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Flexible Spending Accounts |
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Alcoa offers two Flexible Spending Accounts: The Health Care Fund and the Dependent Care Fund. You make pre-tax payroll contributions to one or both funds throughout the year. Then, when you incur eligible expenses, you’re reimbursed from your account. The pre-tax advantage gives you up to a 28% discount on everything you buy with these funds!
The Health Care Fund can be used for a variety of out-of-pocket medical, prescription drug, dental, and vision expenses that are not covered by any other benefit plan. You may contribute from $100-$5,000 per year, or elect not to participate.
The Dependent Care Fund can be used to cover the costs of care for your dependent children under age 13 or adult day care while you or your spouse work or attend school full time. You may contribute from $100-$5,000 per year (maximum is $2,500 per year if you and your spouse file separate tax returns), or elect not to participate.
You must use the money deposited in your account for expenses during the calendar year.
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