Flexible Spending Accounts (FSAs) allow you to set aside pre-tax money from your paychecks to pay for qualifying medical expenses (MERP), child/elder care costs (DCAP), or transit/parking expenses (TRP). This lowers your taxable income.
Medical Expense Reimbursement Program (MERP) acts as a medical savings account - giving you your full annual goal amount at the beginning of the year for you to use with a Mastercard or applying for reimbursement to your bank account.
Dependent Care Assistance Plan (DCAP) is used to pay for expenses like preschool, daycare, before/after school programs, and elder day care.
Transportation Reimbursement Plans (TRP) are used to pay for qualifying parking and transit expenses.
How to Enroll
You must enroll every year to participate in a Flexible Spending Account. You have from Wednesday, October 30th to Wednesday, November 20th to enroll for 2025.
Go to your Workday Open Enrollment page to select which plan you want and what you want your annual (or per-paycheck) goal to be.
FSA Details for 2025
- Medical Expense FSA (MERP) maximum: $3,200 annually for medical, dental, and vision expenses. Minimum is $240 annually.
- MERP rollover limit from 2025 to 2026: $640.
- Dependent Care Expenses (DCAP) maximum: $5,000 per year. No annual minimum.
- Transportation Expenses (TRP)
- Carryover always allowed from year-to-year, no carryover limit
- Maximum TRP Transit enrollment amount: $215 per month
- Maximum TRP Parking enrollment amount: $315 per month
- Minimum enrollment amount for transit and parking TRP accounts: $20 per month