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Evaluation of Flexible Spending Accounts for Active-Duty Service Members / BETH J. ASCH, PATRICIA K. TONG, LISA BERDIE, MICHAEL G. MATTOCK.
- Format:
- Book
- Author/Creator:
- Asch, Beth J.
- Language:
- English
- Subjects (All):
- Soldiers--Medical care--United States--Costs.
- Soldiers.
- Medical savings accounts--United States.
- Medical savings accounts.
- Cafeteria benefit plans--United States.
- Cafeteria benefit plans.
- United States--Armed Forces--Pay, allowances, etc.
- United States.
- United States--Armed Forces--Medical Care--Costs.
- Physical Description:
- xvii, 93 pages : illustrations ; 26 cm
- Place of Publication:
- Santa Monica, CA : RAND, 2022
- Summary:
- Unlike many large employers, the U.S. military does not offer flexible spending account (FSA) options to members of the armed services and their families. Contributions to either a health care FSA (HCFSA) and/or dependent care FSA (DCFSA) reduce the amount of income subject to income and payroll taxes, thereby reducing the individual's tax liability. FSAs interact with other tax incentives in the U.S. tax code, potentially reducing or even eliminating the potential tax savings to individuals participating in an FSA. For service members to take advantage of an FSA, they must have eligible dependent care and medical expenses for themselves or their family members. For example, in the case of health care, most members would have few or no eligible out-of-pocket medical care costs associated with TRICARE. This report presents an analysis-requested by the Office of the Secretary of Defense as input for Congress-on the implications of FSA options for active-duty service members and their families that would allow pre-tax payment of dependent care expenses, insurance premiums, and out-of-pocket medical expenses. The authors evaluate the benefits and costs of FSA options to active members and the U.S. Department of Defense (DoD), and present an implementation plan should FSA options be implemented by DoD. They also identified legislative or administrative barriers to these options.
- Contents:
- CHAPTER ONE: Introduction
- CHAPTER TWO: Landscape of Dependent Care and Health Care Benefits Relevant to the Discussion of FSA Options for Military Personnel
- CHAPTER THREE: How Might FSAs Financially Benefit Active-Duty Members and Their Families?
- CHAPTER FOUR: Estimating Tax Benefits of DCFSAs and HCFSAs
- CHAPTER FIVE: FSA Costs and Savings to DoD and Total Savings to Members
- CHAPTER SIX: Implementation Plan
- CHAPTER SEVEN: Discussion and Conclusions on the Feasibility and Advisability of FSAs for Service Members.
- Notes:
- Title from PDF document (viewed December 2, 2022)
- "RAND NATIONAL DEFENSE RESEARCH INSTITUTE"
- "Prepared for Office of the Secretary of Defense"
- Includes bibliographical references (pages 89-93)
- Description based on electronic resource
- ISBN:
- 1977409857
- 9781977409850
- OCLC:
- 1357137572
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