Flexible Spending Accounts (FSAs) help you save money by allowing you to pay for certain types of healthcare and dependent care expenses on a pre-tax basis.
You decide how much money to put aside each pay period to cover these expenses up to the maximum allowed. This amount is then deducted from your pay before taxes and deposited into your FSA. When you need money to pay for an eligible expense, you can get reimbursed using a variety of reimbursement methods. Remember to keep your healthcare receipts.
Remember, estimate your annual Medical Spending Account contribution carefully. Unused funds that exceed $680 at the end of the year will be forfeited.
-
Use for
Most medical, dental, and vision care expenses (copayments, deductibles, eyeglasses, etc.)
You can only select this account if you are enrolled in the non-HSA medical plan option.
-
Annual contribution
$3,400 maximum per plan year
| Medical Spending Account | Limited Purpose Medical Spending Account | Dependent Care Spending Account |
|---|---|---|
Use forMost medical, dental, and vision care expenses (copayments, deductibles, eyeglasses, etc.) You can only select this account if you are enrolled in the non-HSA medical plan option. |
Use forMost dental and vision expenses. You can only select this if you are enrolled in an HSA medical plan option. |
Use forDependent care expenses (daycare, after-school programs, or elder care programs) so you and your spouse can work or go to school full-time. |
Annual contribution$3,400 maximum per plan year |
Annual contribution$3,400 maximum per plan year |
Annual contribution$7,500 maximum per plan year |
-
Use for
Most dental and vision expenses.
You can only select this if you are enrolled in an HSA medical plan option.
-
Annual contribution
$3,400 maximum per plan year
| Limited Purpose Medical Spending Account | Medical Spending Account | Dependent Care Spending Account |
|---|---|---|
Use forMost dental and vision expenses. You can only select this if you are enrolled in an HSA medical plan option. |
Use forMost medical, dental, and vision care expenses (copayments, deductibles, eyeglasses, etc.) You can only select this account if you are enrolled in the non-HSA medical plan option. |
Use forDependent care expenses (daycare, after-school programs, or elder care programs) so you and your spouse can work or go to school full-time. |
Annual contribution$3,400 maximum per plan year |
Annual contribution$3,400 maximum per plan year |
Annual contribution$7,500 maximum per plan year |
-
Use for
Dependent care expenses (daycare, after-school programs, or elder care programs) so you and your spouse can work or go to school full-time.
-
Annual contribution
$7,500 maximum per plan year
| Dependent Care Spending Account | Medical Spending Account | Limited Purpose Medical Spending Account |
|---|---|---|
Use forDependent care expenses (daycare, after-school programs, or elder care programs) so you and your spouse can work or go to school full-time. |
Use forMost medical, dental, and vision care expenses (copayments, deductibles, eyeglasses, etc.) You can only select this account if you are enrolled in the non-HSA medical plan option. |
Use forMost dental and vision expenses. You can only select this if you are enrolled in an HSA medical plan option. |
Annual contribution$7,500 maximum per plan year |
Annual contribution$3,400 maximum per plan year |
Annual contribution$3,400 maximum per plan year |