What is a limited purpose FSA?

HOW TO USE AN HSA

Sometimes two is better than one.

Two shoes, two cars, two viewpoints.

How about two health care accounts?

One to help you pay for qualified medical expenses, and one to help you pay for dental and vision expenses.

Expenses like: lasik eye surgery,  dental visits, and orthodontics.

That's the idea behind the limited purpose FSA.

It's offered through your employer during your open enrollment period.

Check your benefit information to see if you're eligible.

The limited purpose FSA is a great companion to a health savings account, but it has a limited purpose.

You can easily pay for services at dental or vision clinics with your debit card.

With a limited purpose FSA, you decide how much you want to put into the account, and that lump sum is there the first day of the plan year.

Plus, the money that goes in is deducted from your paycheck before taxes.

Just make sure you use all the money

in your limited purpose FSA.

It's not like an HSA, where your funds roll over from year to year.

While some plans have a grace period or a carryover provision, a limited purpose FSA is a "use it or lose it" account.

One important note: If you spend your limited purpose FSA dollars before the end of the plan year, and something else comes up - like a root canal- additional dental or vision expenses could be paid from your HSA.

Just make sure to check your plan details.

No matter what, we make it really easy to help you keep track of what

you've spent and what you plan to spend, so you

can plan efficiently and maximize your account.

Download our mobile app to check on your accounts, submit a claim and more.

Combined with your HSA, it's a case where two is better than one.