Consolidated Administrative Services
Flexible Spending Accounts (FSAs) allow you to have pre-tax money deducted from your paycheck to reimburse yourself for certain expenses. Since contributions are made through payroll deductions with pre-tax dollars, you decrease your taxable income and thereby increase your take-home pay.
The annual dollar limit on employee contributions to employer-sponsored healthcare flexible spending arrangements (FSA) is dictated by the Internal Revenue Service.
The IRS now allows Over-the-Counter (OTC) medicines or drugs to be purchased with Health Care FSA or HSA funds without a prescription. Using your flexible spending account just got a lot more flexible. Newly eligible items include antacids, pain relievers, cold & flu medication, menstruation products, digestive aids, antibiotics, and antiseptics. See an updated list of allowable expenses.
Plan Year Maximums
The FSA Plan deduction starts on Jan 1st payroll. The Plan year is January 1 – December 31.
| Health Care/Medical FSA is $3,050 for 2024 and $3,200 for 2025 |
| Dependent (child care) FSA is $5,000 per year for a married family filing joint taxes or $2,500 if filing separately. |
Reminder: Health Care Accounts and Child Care Accounts are completely separate. You cannot use money set aside in your Health Care account for Child Care expenses and vice versa.
Rollover
Each year, there is a rollover amount where unused funds can carry over to the following year. The amount is 20% of the IRS allowed maximum.
2024 amounts are from $50 to $610
2025 amounts are from $50 to $640
Plan Documents
Summary Plan Description – 2023 including HSA
Cafeteria Plan Document– 2023 Including HSA
Plan Highlights– 2023 Including HSA
- Newly Eligible Items due to CARES Act
- FSA Overview Flyer
- Medical FSA FAQ
- FSA Eligible & Ineligible Products and Services
- Medical Claim Form
- Change Status Form
- Card Request Form
- Mobile Brochure
- Mobile App Instructions
- Medical FSA & COBRA
