Home • United Healthcare • Mutual of Omaha • Benetrac • FSA/HSA • Pricing • Additional Benefits • Special Enrollment Period
Health Care and Dependent Care FSA and HSA Accounts
The health care FSA account provides an opportunity to authorize a payroll deduction on a pre-tax basis to pay for eligible Health, Dental, and Vision expenses that are not covered by your insurance plans.
*Please note that a $2.50 convenience fee will be deducted bi-weekly for this benefit*
To be eligible for reimbursement, a health care expense must be:
- For you, your spouse or qualifying dependent children
- Medically necessary
- Not reimbursed by your health/dental/vision insurance or any other benefit plan
Examples of eligible expenses include:
- Health plan copays
- Dental expenses
- Prescription expenses
More important info:
- You will receive a debit card to use for your eligible expenses.
- Maximum amount that you can contribute towards your Health care FSA for 2023 is $3,050.
- Minimum amount that you can contribute towards your Health care FSA for 2023 is $250.
- You are required to re-enroll every year for your FSA account. This benefit does not roll over to the following year.
- Remember that FSA dollars are “use-it-or-lose-it” funds. You will only be able to roll over $610 into the new plan year, so make sure you are choosing your amount wisely. Anything over the rollover amount will be forfeited at the end of the year.
ELECTING THE FSA AS WELL AS THE HSA AT OPEN ENROLLMENT:
If you choose to participate in BOTH the HSA plan and the FSA in the same calendar year, your FSA will turn into a Limited purpose FSA.
Limited purpose FSA (LPFSA) is a flexible spending account that ONLY reimburses you for eligible dental and vision expenses. An LPFSA is available to employees who are enrolled in a high deductible health plan (HDHP) as well as an HSA.
Click below to see a list of eligible FSA expenses:
This benefit is provided by a company called TASC. See www.TASCOnline.com for more details.
The Dependent care FSA account provides an opportunity to authorize a payroll deduction on a pre-tax basis to pay for eligible dependent care expenses. Please note that this account cannot be used to pay for healthcare expenses of your eligible dependents.
*Please note that a $2.50 convenience fee will be deducted bi-weekly for this benefit*
**If you choose both the healthcare and dependent care FSA the fee for both will be $4.00**
A qualifying dependent is:
- A tax dependent of yours that is under age 13
- Any other tax dependent, such as an elderly parent, who is physically or mentally incapable of self-care and has the same principal residence as you.
- A spouse who is physically or mentally incapable of self-care and has the same principal residence as you
Examples of eligible expenses include:
- Adult day care
- Before/after school care
More important information:
- Maximum amount that you can contribute towards your Dependent Care FSA for 2021 is $5,000.
- Minimum amount that you can contribute towards your Dependent Care FSA for 2021 is $250.
- You are required to re-enroll every year for your FSA account. This benefit does not rollover to the following year.
- Remember that FSA dollars are “use-it-or-lose-it” funds. Account balances cannot be carried over from year to year. If you have any unused funds at the end of the plan year, or at the end of any applicable grace period, those funds will be forfeited.
Click below to see a list of eligible Dependent Care expenses:
A HEALTH SAVINGS ACCOUNT (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a High-Deductible Health Plan (HDHP). The funds contributed to an account are not subject to federal income tax at the time of deposit.
ELECTING THE FSA AS WELL AS THE HSA AT OPEN ENROLLMENT:
If you choose to participate in BOTH the HSA plan and the FSA in the same calendar year, your FSA will turn into a Limited purpose FSA.
Limited purpose FSA (LPFSA) is a flexible spending account that ONLY reimburses you for eligible dental and vision expenses. An LPFSA is available to employees who are enrolled in a high deductible health plan (HDHP) as well as an HSA.
Qualifying for an HSA & Before you get started: https://enrollhsa.optumbank.com/enrollment#/
Contribution and Out-of-Pocket Limits for 2023-2024 Health Savings Accounts (HSA)
| HSA | Self Only Limit | Family Limit |
| 2024 | $4,150 | $8,300 |
| 2023 | $3,850 | $7,750 |