Pre-Tax Accounts

We offer several options to help you save money on taxes and pay for qualifying health and dependent care expenses. Read on to see which option is right for you.

Healthcare Flexible Spending Account (FSA)

Contribute up to $2,850 annually to pay for eligible healthcare expenses, including big-ticket items like orthodontia or more routine copays. Up to $570 of your unused funds will automatically roll over into your 2023 account. From 2023 to 2024, you can roll over up to $610 of unused funds.

Keep in mind, you don’t have to be enrolled in the Cox Medical Plan to participate; however, you can’t enroll in a Healthcare FSA if you are enrolled in the High Deductible Health Plan. You would instead use a Health Savings Account (HSA).

Your previous election does not carry over. You must enroll in the Healthcare FSA each year.

Healthcare Flexible Spending Account (FSA)
Dependent Care FSA

Dependent Care FSA

Contribute up to $5,000 per household annually to pay for before- or after-school care, day care or other qualified expenses for children aged 12 and under. You can even use it for costs associated with caring for an elderly parent. 

Your previous election does not carry over. You must enroll in the Dependent Care FSA each year.

 

Health Savings Account (HSA)

An HSA is your tax-saving companion to the High-Deductible Health Plan. Cox contributes to your HSA to get you started; after you open your account you can set aside up to $7,750 to pay for qualifying medical expenses. You must enroll in an HSA each year, and while you do not have to contribute personal funds to the account to get the Cox contribution, you will need to indicate a minimum election of $0 to ensure your account is opened. Your HSA balance automatically rolls over each year.

Health Savings Account (HSA)

Unless you have a qualifying life event, you can’t change your FSA contribution levels throughout the year. (You can change your HSA contribution anytime.) Wondering what qualifies as a life event? Employees can visit InSideCox.com to learn more or access ALEX to help you make the best decision for you and your family.