Paying for eligible expenses with pre-tax dollars helps to lower the costs of health and dependent care.
Types of reimbursement accounts
- Health care. Designed to pay those expenses not covered under your medical plan and lower your taxable income. You specify a pre-tax deduction. Associates who take advantage of the Health Care Reimbursement Account automatically receive a Bank of America Health Care Card, a debit card that is used to pay for out-of-pocket costs.
- Dependent care. Designed to cover anticipated dependent care expenses and lower your taxable income. You specify a pre-tax deduction. You can also use your Bank of America Health Care Card to pay for out-of-pocket costs for dependent care.
Not all employees are eligible to participate in all benefit programs. The terms and conditions of the benefits described above may be governed by written benefit plans and/or other documents. The above stated description of benefits is intended as a summary and for informational purposes only; this document does not create a contract between the company and any employee or potential employee. All programs and benefits are subject to change at any time.
Health & Insurance Benefits
Life Management Benefits
Retirement Benefits
