Flexible Spending Account

Benefit Overview

The Healthcare Flexible Spending Account (FSA) allows employees to set aside pre-tax money to pay for eligible medical expenses throughout the year. An FSA helps reduce taxable income while providing a convenient way to manage healthcare costs for you, your spouse, and your dependents. Funds are available in full at the start of the plan year, even though contributions are made gradually through payroll deductions.

Available to full-time employees eligible for benefits. You cannot participate in a general-purpose FSA if you are enrolled in a Health Savings Account (HSA). Eligible dependents’ expenses may also be reimbursed under your account.

Key Details

FSAs provide an easy, tax-advantaged way to pay for out-of-pocket healthcare expenses not covered by your insurance plan.

Feature	Details
2025 IRS Contribution Limit	$3,050
Annual Tax Savings Example	Up to $610 based on a 20% tax rate
Access to Funds	Full annual amount available on day one
Eligible Expenses	Medical, dental, vision, prescriptions, and many over-the-counter items
Rollover Option	Up to $640 may carry over into the next plan year (if offered)

For more information, please refer to the Documents section below.

How It Works

When you enroll, you choose an annual contribution amount up to the IRS limit. That total amount is available immediately at the start of the plan year. You’ll repay it gradually through pre-tax payroll deductions each pay period.

Use your HealthEquity debit card to pay for eligible expenses directly at the time of service, or submit receipts for reimbursement online through your HealthEquity account.

Eligible Expenses

Your Healthcare FSA can be used for a wide range of qualified healthcare expenses, including:

Doctor visits and copays
Prescriptions and over-the-counter medications
Dental cleanings and orthodontia
Vision exams, eyeglasses, and contacts
Chiropractic care and physical therapy
Medical equipment and insulin supplies

Important Reminders

FSAs are only available to employees who are not enrolled in a Health Savings Account (HSA).
All expenses must be incurred within the plan year unless your plan offers a carryover or grace period.
Unused funds beyond the carryover amount are forfeited under IRS “use it or lose it” rules.
Keep receipts for all purchases to verify expenses if requested.

Who This Benefit Is For

This plan is ideal for employees who expect consistent medical, dental, or vision expenses and want to lower their taxable income while budgeting for healthcare throughout the year.

Documents