Flexible Spending Account

A FSA is a tax-advantaged spending account that you can use to pay for qualified medical expenses. You can choose to set aside money into your FSA, but unlike a HSA the plan only allows for up to $610 to be carried over to the following year. Please note, individuals cannot contribute to a Healthcare FSA while they are contributing a HSA.

Employees with young children or other dependents unable to care for themselves may want to contribute to a Dependent Care FSA. Contributions to this account may be used to pay for childcare and other dependent care expenses.

IRS contribution limits for 2025:
Healthcare FSA – $3,300
Dependent Care FSA – $5,000