Tax-Advantaged Accounts Overview
Overview
You can save money by paying for eligible health care and dependent day care expenses with tax-advantaged accounts. Pearson offers you several types of accounts that lower your taxes.
Note: These accounts are not available to residents of Puerto Rico. Some state tax advantages may differ, please check with your tax advisor.
Key Features
- Tax-free money: Money goes in tax-free and comes out tax-free when it’s used for eligible expenses
- Convenient payroll deductions: Contribute to your accounts easily
- Helpful budgeting tool: Plan for upcoming expenses by setting aside money each paycheck
Note: You must enroll if you want to contribute to these accounts annually.
Compare Accounts
HSA | Combo FSA | Healthcare FSA | Dependent Day Care FSA | |
---|---|---|---|---|
Available with… |
$1850 Deductible Plan
$3,200 Deductible Plan |
$1850 Deductible Plan
$3,200 Deductible Plan |
$400 Deductible Plan
$900 Deductible Plan (Also available if you waive medical coverage) |
Any medical plan (Also available if you waive medical coverage) |
Receive company distribution | Yes | No | No | No |
Change your contribution amount anytime | Yes | No | No | No |
Access your entire annual contribution amount at the beginning of the plan year | No | Yes | Yes | No |
Access only funds that have been deposited | Yes | No | No | Yes |
Use the money for… | All eligible health care expenses |
Only dental and vision expenses until you meet the IRS-required deductible, then use for all eligible health care expenses.
|
All eligible health care expenses | Eligible dependent day care expenses, including child care for children up to age 13 and care for dependent elders |
“Use it or lose it” at year-end | No | Yes | Yes | Yes |
Money is always yours to keep, and money in your account can be invested | Yes | No | No | No |