Optional Coverages

Flexible Spending Accounts

For schools seeking additional tax savings, the Trust offers two flexible spending accounts (FSA) — healthcare and dependent care — administered by Health Equity. The healthcare FSA is for eligible health care services and items for you and your dependents. The dependent care FSA is for dependent day care expenses so you can work.

An FSA allows participants to keep some funds “in reserve” for certain health care and dependent care expenses. Once enrolled, participants choose an amount to be deducted from each paycheck and deposited into their FSA. Then, after an eligible expense is paid, participants are reimbursed with the dollars from that account. Contributions to the accounts are deducted from participants’ paychecks before taxes are withheld, so eligible expenses are paid with tax-free dollars.

The Trust also offers a limited-purpose healthcare FSA for those who participate in the HSA.

Life, Disability, and AD&D

ISAS Trust also offers long-term disability, life, accidental death and dismemberment, and additional voluntary life coverages on a fully-insured basis. These plans are administered by Liberty Mutual.