Flexible Spending Accounts

Types of FSAs

There are three types of FSAs administered by HealthEquity that help you save significantly on taxes while paying for health care and/or dependent care expenses.

FSA contributions for highly compensated employees may be limited depending on the outcome of certain IRS nondiscrimination tests.

Health Care FSA

Who can participate?

All benefits-eligible employees who are not enrolled in the HSA Core or HSA Value plans.

Annual IRS contribution limit

• 2026 — up to $3,300
• 2027 — up to $3,400

Eligible expenses

Medical, prescription drug, dental, and vision expenses not covered by your insurance are eligible (see the full list of IRS-approved expenses here).

Funds

• Availability of funds — The full amount is available at the start of the year (or your benefits start date after you join)
• Accessing funds — Use a HealthEquity debit card for eligible expenses, or file claims directly for reimbursement

Limited-Use Health Care FSA

Who can participate?

Employees enrolled in the HSA Core or HSA Value medical plan.

Annual IRS contribution limit

• 2026 — up to $3,300
• 2027 — up to $3,400

Eligible expenses

Dental and vision expenses only, until you meet your medical plan deductible; once you meet your deductible and submit the appropriate verification form to HealthEquity, funds can also be used for medical expenses (see the full list of approved expenses here).

Funds

• Availability of funds — The full amount is available at the start of the year (or your benefits start date after you join)
• Accessing funds — Use a HealthEquity debit card for eligible expenses, or file claims directly for reimbursement

Dependent Care FSA

Who can participate?

All benefits-eligible employees.

Annual IRS contribution limit

• Individuals and married filing jointly — Up to $7,500
• Married filing separately — Up to $3,750

Eligible expenses

Day care, preschool, and after-school care for a dependent child under age 13 or a tax dependent who is physically or mentally incapable of self-care (see the full list of IRS-approved expenses here).

Funds

• Availability of funds — Funds are available as they’re withheld from your paycheck and deposited into your account
• Accessing funds — File claims directly for reimbursement

Use-it-or-lose-it deadline

The 2026 deadline to file claims is March 31, 2027, for eligible expenses you incur(red) between January 1, 2026, and December 31, 2026.

In general, you have until March 31 of the following year to submit claims for services incurred between January 1 and December 31. Any unused FSA funds are forfeited.

How to use your funds

Save all itemized receipts!

• Estimate your anticipated health care and/or dependent care expenses for the year.
• Choose your annual contribution amount. To find your per-pay-period deduction, divide your annual election by the number of (or remaining) pay periods in the year.
• 2027 Health Care FSA and Limited-Use Health Care FSA Contributions: Between $260 and $3,400.
• 2027 Dependent Care FSA Contributions: Between $260 and $7,500 if married filing jointly or $3,750 if married filing separately.
• Pay for eligible health care expenses using your HealthEquity debit card, or you can submit claims for health care and dependent care expenses via the EZ Receipts app (Apple Store/Google Play) or at HealthEquity.com.
• Submit for reimbursement of eligible expenses incurred between January 1 and December 31 by March 31 of the following year. Reimbursement is available up to your annual election amount.
• Per IRS rules, FSAs follow a use-it-or-lose-it policy, meaning any unused funds at year-end are forfeited.

For more information, check out the Flexible Spending Accounts briefing document.

Leaving the Company

Your FSA coverage ends on your termination date.

You can request reimbursement for eligible expenses incurred up to that date, and you have until March 31 of the following year to submit claims for services received within the plan year, up to your termination date. Any remaining balance is forfeited once eligible claims are paid, unless you enroll in COBRA coverage.