Flexible Spending Accounts (FSA)
A Flexible Spending Account (FSA) allows you to use pre-tax dollars to pay for qualified healthcare or dependent day care expenses. Three FSA accounts are available:
- General Purpose Healthcare FSA – HCFSA – (For individuals not enrolled in a HDHP) used to pay eligible medical, dental and vision expenses Maximum annual amount: $2,500.
- Limited use Healthcare FSA - Ltd-HCFSA - (For individuals enrolled in a HDHP) – used to pay eligible dental and vision expenses only. Maximum annual amount $2,500.
- Dependent care FSA – DCFSA – used to reimburse eligible day care, child care and elder care expenses. Maximum annual amount $5,000.
IMPORTANT NOTE: Any unused amounts credited to your account as of the end of the coverage year will be forfeited.
***Individuals must re-enroll online during Open Enrollment to continue FSA participation for the next year***