Flexible Spending Accounts

OPTION 1: HEALTH CARE FLEXIBLE SPENDING ACCOUNT (FSA) 

OPEN TO NON-HDHP HSA MEDICAL INSURANCE PARTICIPANTS ONLY

Health care expenses incurred by you or an eligible family member that are not covered by the Health Plan for medical, dental and vision benefits, may be reimbursable through your FSA account. You may elect to contribute up to $3050 pre-tax dollars per calendar year for eligible medical, dental, and vision expenses.

For a detailed listing of eligible healthcare expenses, or to review the Flexible Benefits Summary Plan please click on the links below: 

         Link:   Flexible Benefits Summary Plan Description 

         Link:   General FSA Health & Dependent Care 

         Link:   2023 Reimbursable Health Care Expenses 

OPTION 2 : LIMITED FSA PLAN (LTD FSA)

OPEN TO HDHP HSA MEDICAL INSURANCE/ HSA ACCOUNT PARTICIPANTS ONLY

Limited Flexible Spending Accounts (Ltd FSA) are available only to those enrolled in a high-deductible health plan and an HSA account. A limited-purpose FSA lets you use pre-tax dollars to pay for qualified dental and vision expenses, such as dental cleanings, fillings, vision exams, contact lenses, lens solution/cleaner, and prescription glasses . 

Under current IRS rules, you cannot deposit money into an HSA if you participate in a standard healthcare FSA. However, because an LPFSA restricts reimbursements to specific dental and vision care expenses, the IRS allows you to participate in both an LPFSA and an HSA at the same time. By having both accounts, you can maximize your tax and savings benefits. When coordinated with an HSA, the LPFSA can further reduce your taxes while allowing you to allocate HSA funds to other purposes . For additional information, please click the link below:

          Link:  Limited FSA Plan

OPTION 3: DEPENDENT CARE FLEXIBLE SPENDING ACCOUNT (FSA)

Dependent Care Reimbursement Account, you may be reimbursed for eligible expenses incurred by you for the care of your child, disabled spouse, elderly parent, or other dependent that is physically or mentally incapable of self-care, so that you (and your spouse) can work or actively look for work. For additional information, please refer to the Flexible Benefits Summary Plan Description or the Dependent Care FSA Information document by clicking the links below:

         Link:  Flexible Benefits Summary Plan Description 

         Link:  General FSA Health & Dependent Care

         Link:  Dependent Care FSA Info

2024 IRS CONTRIBUTION LIMITS FOR FLEXIBLE SPENDING ACCOUNTS (FSA) 

• FLEXIBLE SPENDING ACCOUNT: $3200.00 annually, or $123.081 bi-weekly, 2024 IRS limits

• LIMITED FLEXIBLE SPENDING ACCOUNT: $2200.00 annually, 2024 IRS limits

• DEPENDENT CARE FLEXIBLE SPENDING ACCOUNT: $5000.00 annually, or $192.31 bi-weekly, 2024 IRS limits