APPENDIX A - Educational Information HSA / FSA Decision Chart
Healthcare Pretax Account Options Utilize Account Balances to Pay for Eligible Expenses
High Deductible Health Plan ( HDHP ) Medical Plan
Exclusive Provider Organization ( EPO ) Medical Plan
Do you have access to any other health coverage or plans that will pay your expenses before your HDHP deductible has been met ? Read IRS Publication 969 and IRS Publication 502 . Election $ available when deposited into bank account .
NO NO
Read IRS Publication 502 for eligible claim expenses .
Consider the Health Expense Flexible Spending Account ( FSA ) to pay eligible medical , dental and vision expenses . Full election $ available immediately .
Consider an Individual Health Savings Bank Account ( HSA ) to pay for eligible medical , dental and vision expenses .
AND
Pair the Limited Scope Flexible Spending Account with your HSA to help pay for dental and vision expenses only .
Important Information :
• Employees with Flexible Spending Account ( FSA ) funds remaining on 12 / 31 may not make contributions to an HSA Bank Account until the first full pay period after April 1 .
• NOTE : You must be • HSA bank account enrolled in the City ’ s HDHP belongs to the employee Medical Plan to set-up and fund balance rolls Payroll Direct Deposits over from year to year . to an Optum HSA Bank Account .
• FSA accounts are Use it or Lose It accounts . If you don ’ t spend current plan year balance by March 15 th in the next plan year , you lose those funds based on current IRS regulations .
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