Healthcare Flexible Spending Account
Save towards your health care costs through the use of a tax-free Flexible Spending Accounts (FSA) administered by OptumBank. This allows you to use pre-tax dollars to pay for eligible expenses and reduce your out-of-pocket costs.
| Healthcare Flexible Spending Account | |
|---|---|
| Eligibility | You are eligible to contribute to a Healthcare FSA if you do not sign up for the High Deductible Plan. |
| Eligible expenses | You can pay for eligible medical, prescription, dental and vision expenses. See IRS Publication 502 for a complete list. IRS Publication 502 - Medical and Dental Expenses In general, HFSA funds may not be used for Domestic Partner or DP’s child(ren) expenses. See your tax professional for more information. |
| Maximum IRS Contributions | You can make pre-tax paycheck contributions up to $3,200 per year. |
| Changing your annual contribution | Once you make an annual contribution election, you cannot change it, unless you experience a qualified life event during the year. |
| Carryover | You can carryover between $50 –$640 of unused funds to the next plan year. Any amounts under $50 and over $640 will be forfeited. |
For more information on Healthcare Flexible Spending accounts, visit optumbank.com.
Dependent Daycare Flexible Spending Account
Note: This account may not be used to pay for dependents’ health care costs.
To help employees with the cost of care, Salem Health is now subsidizing a portion of Dependent Care FSA (DCFSA). For (DCFSA) participants, Salem Health will contribute up to $2,500 ($104.17/pay period) towards this reimbursement account for qualifying expenses.
- Enrollments effective 02/01/2025 or later will be subject to a prorated Salem Health contribution.
- The intent of the employer DCFSA contribution, regardless of how a family elects, is to contribute a maximum of $2,500* per household. *Prorated for enrollments 02/01/2025 and later.
- The employer contribution will be audited for employees of the same household who choose to each enroll in DCFSA. Reduced employer contribution may apply.
A dependent care FSA can help you put aside dollars, income tax- free, for the care of children under 13 or for dependent adults who can’t care for themselves.
| Dependent Daycare Flexible Spending Account | |
|---|---|
| Eligibility | You can contribute to a Dependent Daycare FSA regardless of the medical plan you elect. |
| Eligible expenses | You can use money in your FSA to cover expenses for eligible child/elder care expenses. See IRS Publication 503 for a complete list. IRS Publication 503 - Child and Dependent Care Expenses In general, DFSA funds may not be used on Domestic Partner's child(ren). See your tax professional for more information. |
| Maximum IRS Contributions | Maximum IRS contribution is $5,000 per year ($2,500 per year if you are married and file a separate tax return). Salem Health will contribute up to $2,500. Prorated for enrollments 02/01/2025 and later. |
| Changing your annual contribution | Once you make an annual contribution election, you cannot change it, unless you experience a qualified life event during the year. |
| Unused funds | Any unused funds in your account at the end of the year do not carry over and are forfeited. |
Visit Optumbank.com for more information on qualifying expenses.
Yes, you must elect the DCFSA during Open Enrollment in order to receive the employer contribution for 2025.
Due to the employer contribution, the annual maximum amount per household is $2,500 (unless married filing separately). If married filing separately, your election should be $0.
As enrollments effective 02/01/2025 and later will receive a prorated employer contribution your contribution may be greater than $2,500.
The employer contribution is distributed to your Optum DCFSA every two weeks.
Through the Optum portal, you can submit covered claims for reimbursement up to the amount currently available in your account.
Video: Flexible Spending Account
