Flexible Spending Accounts

Healthcare Flexible Spending account – Contributions are taken out of your paycheck on a pre-tax basis, and you can use these funds to pay for medical, dental, and vision expenses as well as pharmacy expenses.  You have up to $3,100 that you can choose and the money is available on January 1, 2025. These funds can be used for you and your dependents even if the dependents are not covered under your medical plan.

Dependent Care Flexible Spending account – Contributions are taken out of your paycheck on a pre-tax basis, and you can only use the amount that is in your flexible spending account.  You can use these funds for daycare, camps, elder care – where your dependents need care or have after school activities. You cannot use these funds for your dependents’ medical, dental, vision, and pharmacy expenses. You can choose an amount up to $5,000. The deductions are taken out over the calendar year.

Health Savings Account – Contributions are taken out of your paycheck on a pre-tax basis, and you can use only what is in your account. But you can also enroll in the Limited Purpose FSA plan if you are trying to save your HSA money. You can choose an amount up to $4,300 if you have individual coverage or $8,550 if you have dependent coverage. You can always take your HSA account with you if you leave the district.

Limited Purpose Flexible Spending Account – This type of account can be used to supplement an HSA plan only. This account can be used to pay for dental and visions expenses and your HSA account would be used to pay for medical and pharmacy expenses. This account works just like the healthcare flexible spending account.

Note: For the Flexible Spending accounts, you must choose the amount carefully. If you do not use it, you will forfeit those funds. We do have a two and a half month extension for these accounts which will allow any balance at the end of the year to move to the next calendar year but those funds need to be exhausted by March 15, 2025. Please visit hisdbenefits.org for additional information on all your flexible spending account choices and to see more information on the Health Savings Account. Unused funds from the HSA roll over from year to year.