Flexible Spending Accounts (FSAs)

Set aside pre-tax dollars for health care and dependent care expenses.

Health Care FSA|Dependent Care FSA|Important FSA Rules|Helpful Resources|Documents

Flexible Spending Accounts (FSAs), administered by HealthEquity, allow you to set aside pre-tax dollars to pay for eligible health and dependent care expenses. Each year, you must elect the annual amount you want to contribute to one or both accounts, up to the IRS limit. Your contributions will be deducted pre-tax from your paycheck, which helps reduce your taxable income. The full annual Health Care FSA election is available on the plan effective date and Dependent Care FSA reimbursements are limited to the available account balance.

Take advantage of the HealthEquity toolkit, full of helpful resources, including a tax savings calculator, to help you learn how to be a savvy FSA user. Go online to view a list of eligible expenses, watch helpful videos, and plan for the year ahead.

Health Care FSA

A Health Care FSA is available with Aetna Choice POS, Kaiser Deductible HMO, or no medical-plan enrollment; it is not available to those enrolled in an HSA.

  • Get reimbursed for eligible health care expenses for you, your spouse, and your children.

  • Use the HealthEquity debit card or submit documentation for reimbursement.

  • If you’re contributing to a Health Savings Account (HSA), you cannot enroll in a Health Care FSA.

Important:

  • Always save your receipts when using the HealthEquity debit card.
  • You may be asked to verify transactions, following IRS guidelines.

2027 IRS Contribution Limit: $3,400

Reminders:

  • You must incur services by December 31, 2027.
  • You must submit for reimbursement by April 30, 2028.

Dependent Care FSA

Use pre-tax dollars to cover eligible daycare expenses for:

  • Children under age 13
  • Disabled children
  • Dependent adults

Care can be provided by:

  • Live-in care or babysitters
  • Licensed daycare centers

2027 IRS Contribution Limit: $7,500 ($3,750 if married and filing separately)

Reminders:

  • You must incur services by March 15, 2028.
  • You must submit for reimbursement by April 30, 2028.

Important FSA Rules

FSAs offer significant tax advantages but are subject to the following IRS regulations:

  • All expenses for the Health Care FSA must be incurred during the plan year: January 1 through December 31. All expenses for the Dependent Care FSA must be incurred by March 15. Refer to IRS Publications 502 and 503 for a complete list of eligible expenses. 
  • Reimbursements for the Health Care FSA and Dependent Care FSA must be submitted by April 30.
  • The IRS has a strict “Use-It or Lose-It” rule for FSAs. Any remaining funds will be forfeited.
  • Once you enroll in the FSA, you can only change your contribution amount if you experience a qualified life event.
  • Each account functions separately. You cannot transfer funds from one FSA to another.

Helpful Resources

DCFSA Payment Options
HealthEquity Toolkit
HealthEquity Plan Comparison Tool

Plan Documents