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FLEXIBLE SPENDING ACCOUNTS (FSAs)

NOTE: If you elected an FSA for 2026 and need your card quickly, contact Benefit Services. We can request an expedited card to be mailed to you. 

Expenses such as deductibles and copays can quickly add up, and dependent daycare, after-school care, or elder care expenses can be even more expensive. FSAs, through HealthEquity, are a tax-free way to pay health care and dependent care expenses you would typically pay out-of-pocket. The contributions you set aside are not taxed, so you save money.

Did you know you can use your FSA funds to purchase other eligible medicine cabinet staples through the FSA Store?

Each year you would like to participate in the FSAs, you must select the amount you want to contribute to either or both accounts. Deductions will come from your paychecks in equal installments throughout the year and are deposited into your account(s).

FSA Plan Highlights

  • Health Care FSAs have a convenient debit card so you don’t have to wait for reimbursement.
  • Your full Health Care and Limited Purpose FSA election amounts are available to you immediately.
  • Dependent Care FSA funds are available as you contribute to your account.
  • Reimbursements (with receipts) can be requested at healthequity.com or through the HealthEquity app.
  • The HealthEquity mobile app allows you to manage and access your balance right from your smartphone.

 FSA Plan Options

Your Health Care FSA election will reimburse you for eligible expenses you, your spouse, and your dependents incur during the plan year. The entire annual amount you elect can be used at any time during the plan year. When you incur the expense, you can use your Health Equity debit card or pay out-of-pocket and submit a reimbursement request with documentation. Eligible health care expenses include copays, coinsurance, deductibles, orthodontia, glasses, and more.

Note: If you are enrolled in the HDHP with HSA, you are not eligible to participate in the Health Care FSA; however, you may enroll in the Limited Purpose Health Care FSA.

HDHP with HSA participants are eligible to enroll in the Limited Purpose Health Care FSA to set aside pre-tax dollars for eligible dental and vision expenses only.

The Dependent Care FSA lets you use pre-tax dollars to pay daycare expenses for children age 12 and under or elder dependents who are unable to care for themselves. The care must be necessary for you and your spouse to remain employed or attend school full-time. Eligible expenses include live-in care, licensed daycare centers, preschool, and day camps.

Unlike the Health Care FSA, you can be reimbursed only up to the amount available in your account after your payroll contributions.

Important Rules to Keep in Mind

FSAs offer tax advantages but are subject to strict IRS regulations:

  • The IRS has a strict “Use-It or Lose-It” rule for FSAs. At the end of the calendar year, you may roll over a lesser amount subject to the IRS limit. Any remaining funds above this amount will be forfeited.
  • Once you enroll, you cannot change your contribution amount during the year unless you experience a Qualifying Life Event.
  • You cannot transfer funds from one FSA to another.
  • For detailed plan descriptions, rules, or a complete list of eligible expenses, refer to IRS Publication 502: Medical and Dental Expenses.

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