Flexible Spending Accounts

Keep more of the money you earn by enrolling in a Flexible Spending Account (FSA). FSAs offer you an easy way to save as you set aside money each paycheck on a pre-tax basis to use for eligible expenses. HealthEquity administers our flexible spending accounts.

There are two types of FSAs. Each covers different types of expenses. You can enroll in one or both.

Health Care FSA

Contribute up to $2,750 in pre-tax funds per calendar year to pay for medical expenses for you and your dependents, including:

  • Deductibles, coinsurance, office copayments and prescription drug copayments
  • Eyeglasses, contact lenses and prescription sunglasses
  • Dental care, including orthodontia
  • Immunizations/vaccinations

Keep in mind that your annual contribution will be divided equally across your paychecks. If you enroll mid-year, be sure to choose your contributions based on the pay periods left in the year.

You can carry over unused funds up to $570 from 2022 to 2023. That means you don’t have to worry if there’s a little money in your health care FSA at the end of year — it will still be there when you need it in the following year. However, funds over $570 are forfeited at the end of the year per IRS rules.

Payment Card

The first time you enroll in a health care FSA, you will receive a prepaid card from HealthEquity to be used for eligible medical expenses. Always remember to save your receipts.

Dependent Care FSA

Contribute up to $5,000 in pre-tax funds per calendar year to pay for dependent care expenses such as day care, before and after school programs, nursery school or preschool, and adult day care.

Keep in mind that your annual contribution will be divided equally across your paychecks. If you enroll mid-year, be sure to choose your contributions based on the pay periods left in the year.

You can’t carry over unused funds so plan carefully. All unused funds at the end of the calendar year are forfeited per IRS rules.

Submitting a Claim

You have until March 31 each year to file a claim for expenses you incurred during the previous year. Be sure to save your receipts.

If your employment ends, FSA accounts and the payment card are terminated on the last day of employment. Only claims incurred before your last day of employment will be processed for reimbursement. All claims must be submitted within 90 days of employment end date.

3 easy ways to submit:

  • EZ Receipts mobile app Download this free mobile app to take a photo of receipts and instantly submit them for payment.
  • Pay My Provider Access your FSA online and fill out a simple form to pay providers directly.
    This option is great for monthly dependent care expenses or health care that requires a recurring payment, such as orthodontia.
  • Pay Me Back File claims quickly and easily online with quick reimbursement by direct deposit or check. HealthEquity processes claims in one to three business days.
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