Flexible Reimbursement Accounts
Section 125 of the Internal Revenue Services' (IRS) Code allows employees to choose certain pre-tax benefits as an alternative to taxable monetary compensation. Employees are eligible to enroll within 31 days of employment. This is a fiscal year (July - June) program. There is a $3.67 monthly fee for participation in one or both FRAs.
Medical Reimbursement AccountThis account allows an employee to set aside pre-tax dollars to pay for medical, dental, and vision care, or other eligible expenses, that are not covered by the health plan. Employees are eligible to enroll within 31 days of employment.
Maximum amount during a plan year:
$5,000 - plan year maximum.
Dependent Care Reimbursement Account
$10.00 is the minimum contribution per pay period.This account allows you to set aside pre-tax dollars to pay for eligible dependent care expenses, such as child care. Employees are eligible to enroll within 31 days of employment
Maximum amount during a plan year:
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- $5,000 - plan year maximum.
- $10.00 is the minimum contribution per pay period.
Visit the Flexible Benefits Program page on the DHRM Web Site at http://www.dhrm.virginia.gov/employeebenefits.html 24 hours a day, seven days a week:
- Flexible Benefits Sourcebook
- FRA Worksheet
- Enroll in an FRA or make changes using EmployeeDirect online
- Download and print a paper Flexible Reimbursement Account (FRA) Election Form
- Flexible Benefits Direct Deposit Form
- Flexible Benefits Medical Necessity Form
- Flexible Benefits Reimbursement Request Form, or
- Learn about making changes outside FRA Open Enrollment.