Banner Health is committed to providing you benefits that allow you to choose the plans that best meet your needs and those of your eligible dependents. As a benefit eligible employee, you have access to three plans that allow you to take a portion of your income and pay for certain premiums and expenses without paying the majority of taxes on that money.
This program is often referred to as a Pre-Tax Plan contributions. This money is very real and actually allows you to keep more money per pay period than you would by paying these expenses not using these plans. There are some examples in this section that will show you how that happens.
There is actually Federal legislation that allows Banner to offer these plans to you, if you are interested in what these are, you can click on the Pre-Tax Plans SPD listed below. There are some restrictions on the type of expenses that are allowed, but if you are enrolled in any Banner benefit plan that has a contribution you must pay, if you have certain medical expenses or if you use a day-care for a dependent child or elder so that you can work, you may want to consider using one or all three of these plans.
The three plans offered to you are:
- Pre-Tax Premiums – If you participate in one of Banner's Medical, Pharmacy, Dental or Vision Plans, your contributions are paid with pre-tax dollars you do not need to make an election for this plan as it is automatic upon enrollment.
- Health care flexible spending account* (HCFSA) - If you have to pay for your out-of-pocket costs related to any eligible Health Care expense (see tab "How It Works" to the left), you can pay for these expenses by estimating what you think you will spend for the year and elect that much to be contributed directly into your HCFSA.
- Dependent care (day care) flexible spending account* (DCFSA) - If you pay a professional day care person or center to watch your children or adult dependents, you can pay for these expenses by estimating what you think you will spend for the year and elect that much to be contributed directly into your DCFSA.
