Healthcare FSA

A Health Care Flexible Spending Account (FSA) is a pre-tax savings account you can use to pay for qualified health care expenses. You can contribute to these accounts with pre-tax deductions from your pay.

There are two types of Health Care FSAs, both administered by HealthEquity:

• Full Use Health Care FSA - If you waive medical coverage through Gulfstream or do not make or receive HSA deposits, you can make pre-tax contributions into the full use FSA for eligible medical, dental and vision out-of-pocket expenses.
• Limited Use Health Care FSA -  If you contribute to an HSA and want to grow and preserve your balance, you can open a Limited Use Health Care FSA to cover annual out-of-pocket dental and vision expenses (like crowns, orthodontia, eye glasses, etc.).

Save it for a rainy day

A healthcare flexible spending account (FSA) allows you to set aside money on a pre-tax basis to pay for qualifying out-of-pocket healthcare expenses.

Employees who make or receive contributions to a health savings account (HSA) are not eligible for a full-use healthcare FSA. A limited use FSA may be elected to use for dental and vision expenses only.

The 2024 annual maximum contribution for either type of healthcare FSA is $3,050. However, any money remaining at the end of the year above $610 will be forfeited.

Submit by March 31 of the following year

The deadline to submit eligible expenses is March 31 of the following year in which you make contributions.