FSA Archives

Dependent Care Assistance Plan (DCAP) Frequently Asked Questions

If you pay for the care of a child, parent or other tax dependent so that you can work or attend school, you could benefit from a Dependent Care Flexible Spending Accounts (DCFSA), also known as a Dependent

Which is Better: FSA or HSA?

Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) offer a variety of benefits to account owners. While there are some similarities in the benefits, there are some major differences.

FSA, HRA and HSA Benefits Funds on Debit Cards

In a 2019 survey, GOBankingRates found that more than 37% of Americans preferred using cash to credit and debit cards. Since then, the pandemic has shifted many of those opinions as people became concerned

FSA Carryover: Spend it Down on These Staples

Did your employer’s benefit plan include a Flexible Spending Account (FSA) Grace Period or Carryover option? If you don’t use your full balance last year, you may have extra money to spend. That

Running in Cold Weather?

During the winter, much of the country has cold weather and snow. With the new year’s health resolutions in full swing, many people are looking to get healthier, lose weight, or both. But not everyone

Holiday Tips to Help You Spend Your FSA and HSA Dollars

If enrolled in a Flexible Spending Account (FSA), you may be looking for ways to spend down your balance before the plan year ends. I’ve got some ideas to help you use up those remaining FSA dollars.

Stay Healthy in the Winter

Now more than ever, it’s important for everyone to work on staying healthy through the winter. From sleep to exercise to how to dress, we’ve got some tips for you. Get outside and suit

2022 FSA Contribution Limits, Max Carryover, Transit Benefits

In Revenue Procedure 2021-45, the IRS published details on how Flexible Spending Accounts (FSAs) and qualified transportation benefits can be used in 2022. The adjustments accounts for inflation, and

Eye Care During a Pandemic

Eye care during a pandemic may not seem like a top priority. Taking care of our eyes is always important, both for how we see the world and how the world sees us. But, the COVID-19 pandemic has caused

VIDEO: Captain Contributor Explains Eligible Expenses

Captain Contributor Explains Eligible Expenses Good news! Your FSA or HSA account now has even more spending power! The CARES Act of 2020, expanded the use of Health Savings Accounts and

9 FSA Eligible Expenses That May Surprise You

With a healthcare FSA, your pre-tax money covers a wide range of common medical expenses. These include doctor visits, surgery and other medical procedures, prescription and over-the-counter medicines,

Qualified Healthcare Expenses for FSAs and HSAs

When you participate in a healthcare benefits account, such as a Flexible Spending Account (FSA) or Health Savings Account (HSA), you set aside money to help cover out-of-pocket healthcare expenses. With

COVID-19 PPE Eligible For FSA, HRA, HSA

In March 2021, the IRS released Announcement 2021-7, which qualifies PPE bought for the primary purpose of fighting COVID-19 as eligible medical expenses under section 213(d) of the Internal Revenue

Why You Should Keep Your Healthcare Receipts

When you see your physician, visit the pharmacy, or make another healthcare-related purchase, you may wonder “Why should I keep my healthcare receipts?” Whether the expense was for yourself or

Use-It-or-Lose-It FSA Dollars: Time is Running Out

We have just a few weeks to go before the end of the year – which could be a blessing. Before you ring in the new year, you may need to go on a healthcare shopping spree. There are a lot of people

VIDEO: Captain Contributor Explains Benefits Mobile Apps

Captain Contributor Explains Benefits Mobile Apps Smartphones are probably an everyday part of your life, but did you know you can use them for easy access to your benefits accounts? Whether

FAQ: Can I have an FSA and HSA at the same time?

During enrollment season, a lot of employees wonder, “Can I have an FSA and HSA at the same time?” After all, both accounts are popular and people want to maximize their tax savings and lower

Enrollment: How Much Should I Put In My FSA? (Or HSA?)

During enrollment season, your company will likely be talking about benefits. If you participate in your employer’s plan, you’re probably wondering, “How much should I put in my

Should I Sign Up for a Flexible Spending Account?

Between September and December many companies start allowing their employees to sign up for benefits for the next year – which often includes health, dental, life and vision insurance. Some

Men’s Health and Eligible Expenses

Gentlemen, if you have a healthcare benefits account, like a Flexible Spending Account (FSA) or Health Savings Account (HSA), you have a great tool at your fingertips to help you manage your personal

Benefit Election Change – Can I Update My FSA or DCAP?

By participating in your employer’s benefit plan, you probably have a lot of questions. How can I spend my benefit money? How much do I need to contribute to my account? Can I make a benefit election

Love Your FSA/HSA: 6 Reasons to Embrace Your Benefits

“All you need is love …” We’ve all heard that before, but is it really true? Fact is, being in a loving relationship provides all sorts of health benefits. From less depression and substance

Tips for Reducing Medical Costs for Healthcare Consumers

The cost of healthcare may be a sizable portion of person’s or families’ annual expenses. Therefore, it is important for people to know how they can become better healthcare consumers

LPFSA Tips: A Benefits Account Made to Help You Smile

When you have a Health Savings Account, you can also sign up for a Limited Purpose Flexible Spending Account (LPFSA). Having both accounts is a great way to save even more on taxes and cover those

FSA FAQs: ‘When Can I Sign Up for an FSA?’ and Other Questions

With the average American household spending $5,000 per person in healthcare expenses each year, it’s no surprise that Flexible Spending Accounts (FSAs) are so popular. According to the Bureau

Category Archives for FSA