Flexible Spending Accounts
There are two different types of Flexible Spending Accounts (FSAs) that we offer, Health Care and Limited Purpose. You choose how much to put into each account up to the IRS limits and will lose any unused funds at the end of the year. Your pre-tax paycheck contributions are deducted equally throughout the year and cannot be changed. Before you enroll, make sure to estimate all your possible expenses for the year.
Health Care FSA
Use pre-tax dollars to pay for eligible health care expenses such as:
- Copays
- Prescription drugs
- Contact lenses
- LASIK procedures
- Orthodontia services
- Over the counter medications
- Feminine hygiene products
To see a complete list of eligible expenses, visit www.irs.gov/pub/irs-pdf/p502.pdf. You may participate in the Health Care FSA even if you aren’t enrolled in one of our medical plans.
Limited Purpose FSA
The Limited Purpose FSA is available to employees enrolled in one of the HDHP plans with an HSA option. Due to IRS rules, this FSA can only be used for eligible dental and vision expenses, until you meet your health plan deductible. Once you do, you can also use Limited Purpose FSA funds for medical expenses or health plan coinsurance charges.