News & Updates

How may I use a flexible spending account (FSA) to offset costs for orthodontic services?

With an FSA, you can set aside up to $2,850 in pre-tax wages during 2022 for out-of-pocket medical expenses, including orthodontic care. The amount limits are subject to change annually....

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What are the risks of participating in a health care or dependent care FSA?

FSA dollars are “use-it-or-lose-it” funds. Account balances greater than $550 cannot be carried over from year to year. If you have any unused funds exceeding $550 at the end of...

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Is there a cost to participate in the FSA?

You pay a small administration fee of $3.25 per month to participate in either one or both (health and/or dependent care) flexible spending accounts.

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What is a Dependent Care Flexible Spending Account (Dependent Care FSA)?

A dependent care FSA provides a way to pay dependent care expenses and lower your taxable income. You direct part of your before-tax pay into a special account to pay...

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What is a Limited Purpose Flexible Spending Account (Limited Purpose FSA)?

The Limited Purpose FSA is a tax-advantaged account that allows employees to set aside a portion of earnings to pay for out-of-pocket dental and vision expenses. Employees who contribute to...

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What is a Medical Flexible Spending Account (Medical FSA)?

The Medical FSA is a tax-advantaged account that allows employees to set aside a portion of earnings to pay for qualified health care expenses that are not paid by insurance...

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What is the FSA? Does it have anything to do with the HSA or HRA?

The HealthCare FSA is a tax-free account that allows a person to pay for essential health care expenses that are not covered or are partially covered by your medical, pharmacy,...

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If my spouse has a Medical Flexible Spending Account, am I eligible to contribute to an HSA?

No. If your spouse has a Medical Flexible Spending Account you are disqualified from establishing and/or contributing to an HSA.

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