Reasons to Enroll
If you are paying for dependent care expenses in order to work, or have medical expenses that are not reimbursable under your health insurance, you are paying for those expenses with dollars that have already been taxed. By enrolling in the DCAAccount or HCSAccount, you will pay those same expenses with whole dollars—before federal, state, and social security taxes are taken from your salary.
For the past 26 years, the DCAAccount has been consistently saving state employee participants hundreds of dollars on their dependent care expenses. More and more working parents learn that the DCAAccount can significantly help with the cost of summer day camp, nursery school, child care center, or adult day care costs.
The HCSAccount is a great way to help you save on many of your family's health care expenses. Since the benefit was introduced in 2001, participation has more than tripled in size as almost 15,800 state employees used their HCSAccounts in 2016 to save money on prescription drugs, orthodontia, and other medical services provided to their families.
Adoption Advantage Account
Eligible employees can now enroll in the Flexible Spending Account for expenses related to the adoption of an eligible child.
Pre-tax payroll deductions contributed to the Adoption Advantage Account can help pay for a qualified adoption. Although you won’t save on FICA you can save on federal and state taxes (where applicable) by having up to $13,810 withheld from your paycheck pre-tax.
More information about the Adoption Advantage FSA is available at: https://www.wageworks.com/NYS-adoption-advantage/.