Flexible Spending Account

A Flexible Spending Account (FSA) is an employer owned account that lets you set aside pre-tax dollars (which lowers your taxable income) to pay for eligible out-of-pocket expenses.

There are two types of FSAs:
1. Healthcare FSA – Can be used to pay eligible medical, dental, orthodontia and vision expenses
2. Dependent Care – Can be used to pay eligible expenses for childcare, eldercare or care for a disabled dependent

Important notes regarding Flexible Spending Account Plans:
• If you have elected to have money set aside in this account before taxes are calculated, you may not change your plan elections until the end of the plan year, December 31st, unless there is a significant change in your family status (marriage, divorce, death of spouse, birth of child, termination of spouse’s employment, or a significant change in your spouse’s health coverage). If a change in status occurs, you may make changes consistent with the qualifying event.
• Eligible healthcare expenses incurred in 2025 can be submitted for reimbursement through March 31, 2026, if there is a remaining balance in the Healthcare FSA on December 31, 2025. After March 31st, any remaining funds in the Healthcare FSA will be forfeited.
• You must request reimbursement of expenses incurred during the plan year within 90 days of your termination date. The IRS requires that any unused funds be forfeited.