• Healthcare FSA: Set aside pre-tax dollars to pay for eligible medical, dental, and vision expenses, such as copays, prescriptions, glasses, contacts, and certain medical equipment.
• Dependent Care FSA: Set aside pre-tax dollars to pay for eligible childcare or adult dependent care expenses while you work, such as daycare, preschool, summer day camps, babysitters, or adult daycare. Expenses must be for a dependent child under age 13 or a dependent adult (like a parent or spouse) who can’t care for themselves.
• You choose contribution amounts during open enrollment.
• Healthcare FSA: Up to $3,400 per year. Up to $680 can be rolled over to the next year.
• Dependent Care FSA: Up to $7,500 per year per household ($3,750 if married and filing separately). Dependent Care FSA funds forfeit once the plan year ends.
1. Decide your annual contribution during open enrollment.
2. Funds are deducted pre-tax from each paycheck.
3. Healthcare FSA: Use your HealthEquity debit card or submit claims for reimbursement.
4. Dependent Care FSA: Submit receipts to HealthEquity for reimbursement.

Important Notes:

• Use-it-or-lose-it: Unused funds may not carry over (check plan specifics for grace period or carryover options).

• Expenses must be incurred within the plan year.

• Forfeit remaining funds if you leave the company.