Tax-Advantaged Accounts Overview

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 in 2019, even if you currently participate.

Compare Accounts

HSA Combination FSA Health Care FSA Dependent Day Care FSA
Available with… $1850 Deductible Plan
$2500 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 contribution 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.
Note: This account is designed to work together with your Health Savings Account (HSA) for additional tax-saving opportunities.
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