Overview
You can save money on health care and dependent care expenses by paying for them with tax-free accounts. Using these accounts effectively will help you take full advantage of their money-saving potential.
Health Care Flexible Spending Account (FSA)Limited Purpose FSA
Dependent Day Care Flexible Spending
Key features at a glance:
Tax-free money
Money goes in tax-free and comes out tax-free when it’s used for eligible expenses.
Convenient payroll deductions
Contribute to your accounts easily and effortlessly.
Helpful budgeting tool
Plan for upcoming expenses by setting aside money each paycheck.
Compare Flexible Spending Accounts
| Health Care FSA | Dependent Day Care FSA | |
|---|---|---|
| Available with … | Any Getty health plan (also if you waive medical coverage) | N/A |
| Access entire employee annual contribution amount as needed | Yes | No |
| Access only funds that have been deposited | No | Yes |
| Use account money for... | All eligible health care expenses | All eligible dependent day care expenses required in order for you to work |
| “Use it or lose it” at year-end | Yes (Carry over up to $680) | Yes (Complete “use it or lose” provision) |
Flexible Spending Accounts (FSAs)
Using an FSA is like getting a discount on everyday health and/or dependent care expenses because you’re paying with tax-free money.
There are separate FSAs for health care and dependent care.
Use your money!
With FSA money, you use it or lose it. If you have a balance left in your FSA as year-end approaches, try to spend as much of it as you can on eligible expenses. Request reimbursement or manage your account on the Inspira website.
Health Care FSA
Pairs with the UnitedHealthcare HMO Plans (Signature Value Advantage, Signature Value) only; also available if you waive the Getty medical coverage.
- Contribute up to $3,400 annually to help cover eligible medical, dental, and vision expenses.
- Select your annual contribution amount during Open Enrollment. You can only change your contribution amount during the year if your personal situation changes.
- Spend your money by using your FSA debit card or request reimbursement for payments you’ve made.
- Your entire annual contribution amount is available to you from the beginning of the plan year.
- Up to $680 of unused money may be carried over to the next year; amounts above $680 will be forfeited.
Dependent Care FSA
Pairs with any or no medical plan.
- Contribute up to $5,000 a year to help cover your eligible dependent care expenses, including child care for children up to age 13 and care for dependent adult daycare.
- Select your annual contribution amount during Open Enrollment. You can only change your contribution amount during the year if your personal situation changes.
- Request reimbursement for payments you’ve made by registering and log in to Inspira.
- Unused money does not carry over at the end of each year — use it or lose it.