Flexible Spending Account

A Flexible Spending Account (FSA) allows you to set aside a portion of your income pre-tax to pay for out-of-pocket healthcare or dependent care expenses. By using “before-tax” dollars, you effectively reduce your taxable income and save money on every dollar spent.

Flexible Spending Accounts Overview Video

The Up-Front Advantage

For Healthcare and Limited Purpose FSAs, your entire annual election is available to you on July 1st. You then “pay back” the account through equal deductions from your paychecks throughout the plan year.

Account Type	Eligibility	What it Covers
Healthcare FSA.	Enrolled in a PPO plan or no health plan.	Medical, Dental, Vision, Pharmacy, and qualified OTC items.
Limited Purpose FSA.	Enrolled in the HDHPA (HSA) plan.	Dental and Vision ONLY (Your HSA handles medical expenses).
Dependent Care FSA.	All benefits-eligible employees.	Daycare, summer camps and elder care for tax dependents.

Key Plan Details

Frequently Asked Questions

No. Your election is locked in for the plan year unless you experience a Qualifying Life Event.

Unlike the Healthcare FSAs, the Dependent Care FSA is not front-loaded. You can only reimburse yourself for expenses as the funds are actually deducted from your paycheck and accumulate in your account.

You can spend your FSA funds for yourself, your legal spouse, and any qualified tax dependents.

Any unused balance in your FSA will become unavailable when your benefits end, which is generally at the end of the month of your last day worked.

The full amount that you elect for the General Purpose and Limited Flex become available upfront. The Dependent Care Account can only be used as the money accumulates from your paycheck.