SMU offers employees the option of before-tax reimbursement accounts which may be used for reimbursement of expenses related to dependent care and health care as described below
Dependent Care Reimbursement Account
The dependent care reimbursement account may be a tax-effective way to pay for child care or other dependent care services. The advantage of using the dependent care reimbursement account is that reimbursement payments are made in dollars that are not taxed. Employees who wish to participate may make before-tax contributions through payroll deduction.
Healthcare Reimbursement Account
The healthcare reimbursement account may be used to pay many types of healthcare services not covered by medical, dental or vision benefits options. The main advantage is that employees may be reimbursed for healthcare services with pretax dollars. Employees who wish to participate may make before-tax contributions through payroll deduction.
This plan is administered by the vendor WageWorks www.wageworks.com 866-363-4128.