AI Content Chat (Beta) logo

Flexible 1 Healthcare FSA 1 An FSA is an alternative to an HSA. FSAs are typically paired Spending with a PPO plan while an HSA is paired with an HDHP. HSA HEALTHCARE funds can be used on various medical, dental, and vision Accounts FSA related expenses. The IRS contribution maximum is $3,200. VIEW ELIGIBLE EXPENSES Flexible Spending Accounts (FSA) are set up to pay for many of out-of-pocket medical expenses with tax-free dollars. The FSA account holder sets aside a pre-tax dollar amount Limited Purpose FSA for the year used to pay for medical expenses. Unused FSA 2 2 A limited purpose FSA is only for dental and vision funds can expire at the end of the year. expenses. If you elect to participate in the High Deductible Health Plan and contribute to a Health LIMITED Savings Account (HSA), you qualify for this FSA, not the PURPOSE FSA full healthcare FSA. The IRS contribution maximum is $3,200. Watch This FSA Video to 3 Dependent Care Account (DCA) FSA Learn More A DCA is a tax-free spending account for dependent care 3 expenses such as daycare, preschool, or day camps for any dependent under the age of 13 or who is physically or mentally incapable of self-care. The IRS contribution DEPENDENT maximum is $5,000 for families and $2,500 for individuals. CARE FSA LEARN MORE ABOUT YOUR DCA

LHD Benefit Advisors 2024 Employee Benefits - Page 21 LHD Benefit Advisors 2024 Employee Benefits Page 20 Page 22