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WHAT IS AN FSA?
With an FSA, you elect to have your annual contribution (up to the annual limit set by the IRS) deducted from your paycheck each pay period in equal installments throughout the year. The amount of your pay that goes into an FSA will not count as taxable income, so you will have immediate tax savings. FSA dollars can be used during the plan year to pay for qualified expenses and services. Please check with your employer to see what plans are offered.
There are two types of FSA accounts. You may enroll in either or both but each account is separate.
HEALTHCARE FSA
Allows reimbursement of qualifying out-of-pocket medical expenses. See chart to the right. Annual maximum for 2025-2026 is $3,300.
Allows reimbursement of dependent care expenses, such as day care, incurred by eligible dependents. Annual maximum for 2025-26 is $5,000 per household.
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