Flexible Spending Account (FSA)
Flexible spending accounts (FSAs) allow you to set aside pre-tax dollars from your paycheck to cover qualified expenses you would normally pay out of your pocket. We offer two types of FSAs. To learn more about the FSAs, visit Lively.
Non-Participating Benefit
For employees who do not elect the company’s medical insurance, this benefit pays $500 annually ($19.23 per pay period). You can receive this benefit as an FSA contribution or cash.
*You are not eligible to receive this benefit if you are covered on the medical insurance plan of another employee of Boyd.
Healthcare FSA
The healthcare FSA helps you pay IRS-approved medical expenses. You may contribute from $100 up to $2,500 annually. Funds you elect to contribute to the healthcare FSA are available in full on the first day of the plan year. You can only open an FSA if you aren’t enrolled in an HDHP.
Dependent Care FSA
The dependent care FSA helps you pay for dependent care. You can contribute from $100 up to $5,000 (or $2,500 if married and filing separately) annually. Your account works like a debit card; you need to accumulate the funds before you can use them.
Use It or Lose It
If you contribute to an FSA, you must carefully determine your annual election amount during the plan year. According to IRS regulations, the money you set aside must be used for expenses incurred during the plan year in which you make the election. Funds must be used by December 31 of the current plan year, and you can submit claims until March 15 of the following year. Any funds left in the account as of March 2027 (from the 2026 plan year) will be forfeited.