Spending Accounts

HealthEquity

HealthEquity – login to review your accounts and submit claims.

About Health Spending and Dependent Care Accounts

  • Maximum Annual Elections: (effective 1/1/23)
    • Healthcare FSA = $3,050
    • Dependent Care FSA = $5,000
    • Health Saving Account = $3,850 Individual, $7,750 Family ($1,000 catch-up if 55+ years old) (These include the $500/$1,000 employer contribution.)
  • Annual Carryover: Healthcare FSA programs participants can roll over up to $570 of unused funds at the end of the plan year (available after the claims submission cutoff of 3/31 for 2022 carryover to 2023).
  • Over-The-Counter medications are now eligible for reimbursement through a Healthcare FSA or HSA without a prescription (thanks to the Cares Act of 2020)

Automatic and Optional Enrollments

Terms & Regulations

  • FSA – flexible spending account (employee contributions only)
    • Healthcare FSA – flexible spending account for medical expenses (formerly know as medical expense reimbursement account)
    • Limited Use FSA –  flexible spending account for vision and dental expenses, used in conjunction with a health savings account (HSA)
    • Dependent Care FSA – flexible spending account for work-related dependent care expenses
  • HSA – health savings account (employee and employer contributions)
  • Qualified Medical Expenses – as designated by the IRS, these include medical, dental, vision and prescription expenses.