There are more Post-Annual Enrollment questions and answers available!
Did the FSA limits increase for 2025?
Yes, but for the Health Care FSA only. Per IRS regulation, the FSA contribution limits in 2025 will be $3,300 for the Health Care FSA and $5,000 for the Dependent Care FSA.
What happens to my unused FSA funds from 2024?
Health Care FSA: Up to $640 can be rolled over to 2025. Any amount remaining in your account above $640 after December 31, 2024, is forfeited.
Dependent Care FSA: No funds roll over to 2025. You forfeit any funds remaining in your account after December 31, 2024.
When is the deadline to submit claims for 2024 expenses?
If you have an FSA expense from 2024, you can submit it to Benepass for reimbursement through March 31, 2025. You cannot submit claims for 2024 expenses past March 31, 2025.
I enrolled in a Smart Plan with a Health Savings Account (HSA) for 2025, but I also want to contribute to an FSA. Is that permitted?
Yes, but there are some considerations you should be familiar with. If you contribute to a Health Care FSA during the same year that you have a Smart Plan with an HSA, your FSA will be considered “limited purpose.”
The difference? A Health Care FSA is for all eligible health care expenses, including medical, prescription drug, dental, and vision care. A Limited Purpose FSA is exclusively for dental and vision expenses until you meet your medical plan’s deductible, at which point you can also start using it for medical and prescription drug expenses.
Where can I find my 2024 FSA account balances?
Log in to the Benepass website to review your 2024 balances.