Spending Accounts

You can save money on your health care and dependent care expenses by enrolling in a tax-efficient Health Savings Account (HSA) and/or Flexible Spending Accounts (FSAs).

Key features

  • Tax-free money – Money goes in tax-free and comes out tax-free when it’s used for eligible expenses.

  • Convenient payroll deductions – Contribute to your accounts easily and effortlessly.

Health Savings Account

With the $1,850 Deductible Plan and the $2,850 $3,000 for 2023) Deductible Plan, you’re eligible to open and contribute money to a Health Savings Account (HSA). Parexel also contributes towards this plan.

Flexible Spending Accounts

Save money on health care and/or dependent care expenses by using a tax-free FSA. The money you contribute to these accounts comes from your paycheck before it is taxed, and you withdraw it tax-free to pay for eligible expenses.