Can I enroll in both the Health Care and Dependent Care Flexible Spending Accounts?
If you are enrolled in the 85/60 PPO or MedFlex Narrow Network plan, you can contribute to both healthcare and dependent care FSAs.
What is the difference between the Health Care FSA and the Dependent Care FSA?
The Health Care FSA provides you the opportunity to have funds deducted from your pay on a pre-tax basis for health care expenses for yourself AND your dependents. These funds can be used for expenses that are not covered by your medical, dental, or vision plans such as copays, coinsurances, etc. Eligible health care expenses examples are:
How do Flexible Spending Accounts work?
You choose a total annual contribution for 2027 and that amount will be divided and deducted on a pre-tax basis from each of your paychecks. ÐÔ¸£ÎåÔÂÌì University front-loads this amount to your FSA in early January, giving you immediate access to funds in case you need them.
If I enroll in a High Deductible Health Plan (HDHP), can I still enroll in a Dependent Care Flexible Spending Account (DC FSA)?
If you enroll in a HDHP, you can still enroll in the dependent care ("daycare") flexible spending account, but you cannot enroll in the health care flexible spending account.
Is there any reason that I wouldn’t be able to enroll and contribute funds to a Health Savings Account (HSA)?
The IRS has set qualifying requirements to enroll in a health savings account, such as:
What is a HSA catch-up contribution?
Similar to IRAs and 401Ks, enrollees ages 55 and over can elect to make catch-up contributions of $1,000 above the IRS limit for individual and family plans.
Will ÐÔ¸£ÎåÔÂÌì contribute to the 2027 Health Savings Account (HSA)?
Yes, ÐÔ¸£ÎåÔÂÌì will again contribute $1,300 for a single high-deductible medical plan or $2,000 for a family high-deductible medical plan. For 2026, the IRS maximum TOTAL contribution limit is $4,500 for a single high-deductible medical plan and $9,000 for a family high-deductible medical plan. The employer contribution will be posted to your PNC HSA account 2-3 business days after your first pay date in 2027.
2027 HSA Contribution Limits
How do Health Savings Accounts work?
The Health Savings Account allows you to put money aside and withdraw it, tax-free, as long as you use it for qualified medical expenses like deductibles and copays. The IRS allows for $4,500 to be contributed to a Health Savings Account for single coverage and $9,000 for family coverage. ÐÔ¸£ÎåÔÂÌì will contribute $1,300 towards the Health Savings Account for employees enrolling in single coverage and $2,000 for enrolling in family coverage, and those dollars are yours to keep.
HSA and FSA Comparison
| Consideration | HSA (Health Savings Account) | FSA (Flexible Spending Account) |
|---|---|---|
| Eligibility | Must enroll in a High Deductible Health Plan | Must be enrolled in the 85/60 Plan or MedFlex Plan for Health Care FSA |
The School of Theatre and Dance’s theatre troupe, Transforum Theatre spent the end of their summer break performing at the Edinburgh Festival Fringe in Scotland. Transforum Theatre was founded in 2014 to give theatre students more opportunities to grow their skills, create new original works and expand their understanding of the world of theatre....
