Flexible Spending Account (FSA)

A Flexible Spending Account (FSA) is a plan designed to help manage the rising costs of health care by allowing members to set aside money pre-tax to pay for out-of-pocket medical expenses. Members can think of it as a personal account just for health care expenses.

Types of FSAs

FSA (also known as a traditional/health care/medical FSA)

Eligible expenses for Health Care FSAs include IRS eligible out-of-pocket medical, dental, prescription, and vision expenses. Several expenses that are eligible include: Copays, coinsurance, deductibles, eyeglasses and contact lenses, physical therapy, and chiropractic care, and prescriptions.

Limited Purpose FSA (LP FSA)

If you have a high-deductible health plan (HDHP) and a Health Savings Account (HSA), you can experience greater tax savings by establishing a LP FSA to pay for dental and vision care expenses. A Limited Purpose FSA works alongside your HSA – same Surency Benefits Card if you have a Surency HSA – but funds are available from the first day of the plan. Eligible expenses for Limited Purpose FSAs include out-of-pocket dental and vision expenses such as braces, eyeglasses, and contact lenses.

Each year the IRS sets the maximum contribution limit that members are allowed to elect to their FSA.

2024 FSA Maximum Contribution Limit: $3,200

2025 FSA Maximum Contribution Limit: $3,300

How Does it Work?

Choosing an Annual Election

Once a member enrolls and sets an annual election amount, that pre-tax amount will be automatically deducted from their paycheck in equal increments throughout the year. The entire election amount is available to the member at the start of the Plan Year.

Use our FSA election and Savings calculator to help determine your annual election and estimate your potential savings.

FSA Calculator

Start Spending

When members are ready to use the money from the FSA for any eligible medical expense, they can use the Surency Benefits Card or pay upfront and file a claim. Filing a claim electronically for reimbursement is easy through the Surency Member Account or the Surency Mobile App. Reimbursement will only occur if funds are available.

Common Eligible expenses include medical copays and deductibles, eyeglasses, contacts, prescription medications, over the counter medication, first aid supplies, and much more. Access our full list of eligible expenses here:

Eligible Expenses

Managing FSA funds is easier than ever with our user-friendly Member Account and Mobile App. Check your account balance, submit a claim by snapping a picture of your receipt, manage notifications, and more.

Mobile App

Don't Lose Funds

To avoid losing any money, use all FSA funds before the end of the Plan Year. Depending on the plan, a grace period or rollover may be offered. FSAstore.com is great resource to purchase FSA-eligible items:

FSAstore.com

Tools and Resources

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