Flexible Spending Accounts

FSAs allow you to set aside money on a pre-tax basis to pay for qualified expenses.

Mass Transit Transportation Spending Account (TSA)

Parking Transportation Spending Account (TSA)

FSAs are administered by McGriff Insurance Services(opens in a new tab). Using the FSA benefit is a great way to help pay your health care, dependent care and transportation expenses not covered by any of the other benefit plans. Please note, the transportation expenses covered by the Mass Transit TSA are commuter expenses to and from work by mass transit.

Eligibility

  • If you enroll in the Select Option or decline medical coverage, you are eligible to participate in a Health Care FSA.
  • If you enroll in the Consumer Option, you are eligible to participate in the Limited Use Health Care FSA.
  • Any benefits-eligible associate may enroll in the Dependent Care FSA.
  • Any benefits-eligible associates who relies on methods other than their personal vehicles to commute to and from work may participate in the Mass Transit TSA.

Your contributions

When you first enroll in your benefits, as well as during Annual Benefits Enrollment, you will have the opportunity to choose a specific amount of money to contribute to the FSAs. For the Health Care FSA and/or Dependent Care FSA, you will need to calculate your monthly anticipated expenses to determine your annual contribution. See examples(moves focus).

For the Mass Transit TSA, you will need to elect a semi-monthly contribution amount based on your anticipated mass transit commuter expenses. You may change this contribution amount at any time.

You may use the BB&T Benefit Access Visa® Debit Card to pay your health care and/or dependent care expenses so you do not have to pay for these expenses out of pocket and wait for a reimbursement check. If electing the Mass Transit TSA, you must use this card to purchase passes, fare cards, vouchers, etc. If your transit authority does not accept Visa, you will not be able to use the Mass Transit TSA.

To request a BB&T Benefit Access Visa Debit Card for a dependent, or to request a replacement card, complete the FSA Debit Card Request Form (PDF).

Flexible Spending Account examples

If you participate in a Flexible Spending Account, you will need to plan your contributions carefully. You will need to take into account if you are enrolling during annual benefits enrollment or if you are a new hire or newly benefits-eligible associate enrolling at a different time.

New hires and newly benefits-eligible associates

Calculate your monthly anticipated expenses and multiply that by the remaining pay periods in the year. Consider the following example:

You are hired on July 26 and enroll in your BB&T benefits on August 1. You want to contribute $300 per month to an FSA to cover anticipated expenses. Considering you will participate for 5 months for the remainder of the plan year (August through December), you will make a total annual contribution of $1,500 ($300 per month for 5 months). Your contribution per pay period will be $300 if you are paid monthly or $150 if you are paid semi-monthly.

Associates enrolling during annual benefits enrollment

Calculate your monthly anticipated expenses and multiply that by 12. Consider the following example:

You want to contribute $400 per month to an FSA to cover anticipated expenses. Considering you will participate for 12 months in the upcoming plan year (from January 1 through December 31), you will make an annual contribution of $4,800 ($400 per month for 12 months). Your contribution per pay period will be $400 if you are paid monthly or $200 if you are paid semi-monthly.

Related information

McGriff Insurance Services Website

Check your FSA balance or review eligible expenses.

EXCELLENCE Associate Handbook

View the entire handbook or individual sections.

Summary Plan Descriptions

Summaries for your benefits, retirement and more.

No personal or confidential associate information is contained within BBTBenefits.com.

Information contained within BBTBenefits.com applies to eligible associates residing in the United States, unless otherwise specified.

Not all subsidiaries and affiliates of BB&T Corporation participate in the benefit programs and policies presented within BBTBenefits.com.