Flexible Spending Accounts

A Flexible Spending Account is an employer sponsored medical or dependent care spending account. Three types of accounts are offered: Dependent Care FSA, Healthcare FSA and Limited Purpose FSA. These accounts are regulated by the IRS, administered by DMBA, and managed through your DMBA FSA|HSA portal or app. You must enroll each year you want to participate. Amounts and elections do not carry over to the next year.

Dependent Care FSA

This account allows you to pay for eligible dependent care expenses with pretax dollars. You elect a total contribution amount up to the amount determined by the IRS (currently $5,000), and your employer takes equal payroll deductions each pay period, before taxes, to fund the account. You may only use funds after they are contributed. At the end of the year, any unused amounts are forfeited.

Healthcare FSA (FSA)

Also know as a general purpose healthcare FSA. This account allows you to pay for eligible medical, dental, vision, and prescription expenses on a pretax basis. you elect a total contribution amount up to ta limit determined by the IRS, and your employer takes equal payroll deductions each pay period, before taxes, to fund the FSA. The entire elected amount is available for your use on January 1. At the end of the year, any unused amounts are forfeited, except for an IRS-determined amount you may roll over to your next year's FSA. You have until March 15 of the next year to submit claims toward your FSA. Claims must be for service dates during the calendar year associated with the FSA enrollment. You may pay for expenses using the DMBA Benefits Card or submit claims online, through the DMBA FSA|HSA app. This FSA may not be paired with an HSA.

Limited Purpose FSA (LPFSA)

This account allows you to pay for eligible dental and vision expenses on a pretax basis. It operates exactly like a healthcare FSA, except it may only be used for eligible dental and vision expenses. It can be used in conjunction with an HSA, whereas a healthcare FSA may not.

For more information on FSA, what to use it on, or how to submit a claim, please see DMBA.com or contact Benefit Services at 801-422-4716.