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| TexFlex Reimbursement Account
Form (Faculty, Staff and Graduate Students) |
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If you choose to enroll in 'TexFlex', you need
to contact your benefits coordinator in HRS - Employee Service Center in Drane Hall
Room 135.There is a 31 - day enrollment period for TexFlex. |
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| What is TexFlex? |
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TexFlex reimbursement accounts are tax-favored programs regulated by Section 125 of the Internal Revenue Code. They allow you, with the help of your employer, to set up your own account with money that is deducted automatically from your paycheck before federal income and Social Security taxes are calculated. You are then reimbursed after you have incurred eligible health and dependent care expenses. |
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TexFlex lets you pay for eligible health and dependent care expenses tax-free. TexFlex has two ways of doing this: the
Flexible spending Account - Health Care(FSA - Health)
and the
Flexible Spending Account Dependent Day Care - (FSA - Day Care). Your ultimate savings depend upon your tax bracket. |
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The
FSA - Health allows you to pay yourself back for eligible health care expenses (like eyeglasses and certain unreimbursed medical and dental expenses) for you and your eligible dependents. |
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The
FSA - Day Care allows you to pay yourself back for eligible dependent
day care expenses like your child’s day care or after-school care. |
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