What Is the Difference?
There are three types of Flexible Spending Accounts. Medical and Limited FSA can be used for different types of healthcare expenses. Dependent FSA is used for day care expenses. Team members working at least 20 hours or more are eligible to participant in these plans.
|
FSA – Medical |
FSA – Limited |
FSA – Dependent |
HSA – Medical |
Can anyone use it? |
Yes, unless you enroll in the High Deductible Health Plan and have an HSA |
Only if you are enrolled in the High Deductible Health Plan |
Yes |
Only if you are enrolled in the High Deductible Health Plan |
Who contributes money to it? |
You |
You |
You |
You PLUS Carle contributes up to $250 annually |
What happens to your money at the end of the year? |
You have until March 31st to submit reimbursements for expenses incurred in the prior year |
You have until March 31st to submit reimbursements for expenses incurred in the prior year |
You have until March 31st to submit reimbursements for expenses incurred in the prior year |
In stays in your account until you use it |
What can you use it for? |
Doctor bills, over the counter medications, eye glasses, contacts, dental expenses, and much more |
Eye Glasses, Contacts and Dental expenses |
Day Care expenses provided by a state licensed provider, limited to dependents under 13 years of age. |
Doctor bills, over the counter medications, eye glasses, contacts, dental expenses, and much more |