Faculty Benefits and Services

BeneFlex Program Summary

Tax-Free Reimbursement Accounts

The Internal Revenue Service (IRS) allows employers to set up accounts for employees to set aside money on a pre-tax basis to be used for eligible expenses. Every year you can decide how much you wish to contribute to each tax-free reimbursement account, and the amount will be deducted from your paycheck on a pre-tax basis. The money set aside is used to reimburse you for eligible expenses and you are not taxed on the reimbursement. The IRS places important restrictions on these accounts in return for their tax advantages, so you must plan carefully to avoid forfeiture of unused monies.

• Healthcare Reimbursement Account (HCRA) – You may contribute up to $3,500 annually in pre-tax dollars towards medical, dental and drug expenses not covered under your health insurance.
  • HCRA claim form:
    intranet1.mountsinai.org/humanresources/
    forms/ADP_HealthCare_FSA_ClaimForm.pdf **
• Dependent Care Reimbursement Account (DCRA) – You may contribute up to $5,000 in pre-tax dollars annually per household towards care of eligible dependents.
  • DCRA claim form:
    intranet1.mountsinai.org/humanresources/
    forms/ADP_DependentCare_FSA.pdf **
• Transportation Reimbursement Incentive Program (TRIP) allows you to save money on the cost of qualified transportation expenses to and from work.
  • TRIP claim form:
    intranet1.mountsinai.org/humanresources/
    forms/ADP_TRIP_ClaimForm.pdf **

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**This is an intranet site that can only be accessed from on-campus locations.