Flexible Spending Account (FSA)
Coming in 2024 – Pre-tax accounts are administered by HSA Bank
What to Expect – Transition from PayFlex to HSA Bank
Pre-tax accounts are administered by PayFlex
Flexible Spending Account (FSA)
The simple way to save for out-of-pocket expenses. An FSA is an account that you contribute money into from your paycheck before taxes are taken out. You'll save money when you use it to pay for health and dependent care expenses.
- Flexible Spending Accounts - A health care Flexible Spending Account (FSA) is an employer-owned and funded account to which an employee may contribute pre-tax funds that may be used tax-free for eligible medical, prescription, over-the-counter, vision, and dental expenses incurred by the employee and their eligible dependents (e.g., spouse, child under age 26) during their FSA coverage period. Employees may contribute up to the IRS maximum of $2,850 for the calendar year to a health care FSA.
- Dependent Care Spending Account - A Dependent Care Flexible Spending Account (DCFSA) is an employer-owned and funded account to which an employee may contribute pre-tax funds that may be used tax-free for eligible dependent care expenses while you (and your spouse, if you file jointly) work, look for work, or attend school on a full-time basis during the DCFSA coverage period. Employees may contribute up to the IRS maximum of $2,500 if single or married, filing separately or $5,000 if married, filing jointly for the calendar year to an DCFSA.
2022 - 2023 FSA/DCFSA contribution limits | Individual | Family |
FSA - Max Employee contribution | $2,850 | |
DCFSA - Max employee contribution | $2,500 |
$5,000 |
www.payflex.com
Customer service - 844-729-3539
Resources
- The simple way to save for out-of-pocket expenses (pdf)
- Health Care Flexible Spending Account overview (YouTube)
- Dependent Care Flexible Spending Account overview (YouTube)
- How to file a claim online (YouTube)
- How to manage your FSA online (YouTube)
- Payflex Mobile app overview (YouTube)
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