Flexible Spending Accounts

Features of an FSA:

  • NEW - Less “Lose It” and more “Use It” with new “Use It or Lose It” changes. Carry over up to $500 a year in unused FSA funds. Read more.

  • Flexible Spending Accounts (FSA) allow employees to set aside money on a pretax basis.

    • Effective for FSAs for 2019, employees can contribute $2,700 to health FSAs, up from the 2018 limit of $2,650.

  • Money can be used to pay for out-of-pocket 213(d) IRS eligible medical expenses
  • Employees save money by paying for these goods and services with pre-tax dollars
  • Employers not required to pay 7.65% employer portion of payroll taxes
  • Pre-funded account - employees have their full annual election available at the start of their plan
  • Employers can contribute to the employees’ FSA, and can take a tax reduction for reimbursements made for any of the employer contributions

Advantages of a Choice Strategies FSA:

  • Employees can determine their tax savings through our: FSA Savings Calculator
  • Multiple plans on one convenient Choice Strategies debit card
  • Member Service Representatives can be reached by phone and email
  • Answers to frequently asked questions about FSAs can be found easily on our website
  • Members create their own online account to view balance and account information
  • Employers have their own Client Service Team for questions
  • Choice Strategies has our own Compliance Team to ensure compliance guidelines are followed and to answer questions

Eligible Expenses

  • Items subject to the deductible
  • Co-pay or coinsurance of the health care plan
  • Dental
  • Vision
  • Orthodontia
  • Limited over-the-counter items
  • Alternative treatments

A full list of FSA and HSA eligible expenses can be found within the Helpful Links section of our website.

For more information on FSAs, visit the FAQ pages of our website.