Health Care FSA

A Health Care Flexible Spending Account (FSA) allows you to set money aside on a pre-tax basis to pay for eligible health care expenses. FSA funds are “use it or lose it,” meaning any funds that are not used on expenses that are incurred between May 1, 2025 and July 15, 2026 and submitted by July 31, 2026 will be forfeited.

Can I have both an FSA and an HSA?

The HSA covers the same costs as the Health Care FSA, which is why if you enroll in the Saver (HSA) Plan you cannot enroll in the Health Care FSA at the same time. Some things to keep in mind if you have a 2023-2024 FSA, and are considering the Saver (HSA) plan for the first time in the 2024-2025 plan year:

If you do not spend your 2023-2024 FSA funds by April 30, 2024, then the earliest you can begin contributing to the HSA would be August 1, 2024
You will not be able to re-enroll in the FSA

In order to be able to contribute to your HSA day 1, you must have a $0 balance in your FSA by April 30.

Irrevocable and Nonrefundable Benefits

Once you enroll in the FSA during Open Enrollment, you may not drop, add or change your election for the remainder of the plan year—May 1, 2023 to April 30, 2024—unless you have a qualified change in family status. Be sure to choose your election amount carefully, since unused funds will be forfeited if not used by the deadline.