Flexible Spending Accounts

Health Savings Account (HSA)

WHAT IS A HEALTH SAVINGS ACCOUNT (HSA)?

A Health Savings Account (HSA) is a special tax-advantaged savings account similar to a traditional Individual Retirement Account (IRA) but designated for medical expenses. An HSA allows you to pay for current eligible health care expenses and save for future qualified medical and retiree health care expenses on a tax-favored basis.
HSAs provide triple-tax advantages: contributions, investment earnings, and qualified distributions all are exempt from federal income tax, FICA (Social Security and Medicare) tax and state income taxes (for most states).
Unused HSA dollars roll over from year to year, making HSAs a convenient and easy way to save and invest for future medical expenses. You own your HSA at all times and can take it with you when you change medical plans, change jobs or retire.
Funds in the account not needed for near-term expenses may be able to be invested, providing the opportunity for funds to grow. Investment options include money market accounts, mutual funds, etc. To learn more, visit the resource below, “HSA Investment Options.”

• HSA Eligible Expenses

• HSA Account Transfer Form

• HSA Investment Options

Health Savings Account Guide

HSA Distribution Request

Dependent Care (FSA)

The Dependent Care FSA allows you to set aside pre-tax dollars from each paycheck to pay for eligible child or elderly care expenses while you and your spouse work fulltime. These funds can be ONLY used for daycare expenses for your children under age 13 or dependents who are mentally or physically incapable for caring for themselves (including elderly dependents).

You can elect up to $5,000 to a dependent care FSA. Your funds will become available as you contribute to the account. Your elections cannot be changed during the plan year unless you have a qualifying event.

Use-it-or-lose-it: Dependent Care FSA funds do not rollover. As such, you will forfeit any funds that have not been used at the end of the plan year. You will have 90 days after the end of the plan year to submit claims incurred during that plan year.

• Dependent Care FSA Eligible Expenses

Flexible Spending Accounts (FSA)

The Medical FSA is available to employees who elect the PPO Copay Plan. This account allows you to contribute pre-tax dollars to help pay for qualified expenses. You can elect to contribution up to $3,300 for the 2025 plan year; all funds you elect for the year will be available to use on benefits effective date.

Your elections cannot be changed during the plan year unless you have a qualifying event.

At the end of the 2024 plan year, you may rollover up to $640 into the following year. Any amount over $640 will be forfeited. At the end of the 2025 plan year, you may rollover up to $660 into the following year. Any amount over $660 will be forfeited. You may not participate in both the Medical FSA and the HSA at the same time. If you enroll in a health plan other than the PPO Copay Plan, you will no longer be eligible for the Medical FSA including the rollover amounts. If this is the case, you will have 90 days after the end of the plan year to submit claims incurred during that plan year.

• Medical FSA Eligible Expenses

Claim Form

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