How to use my flexible spending account (FSA) and other reimbursement accounts
Put money into special accounts to save on eligible health care, day care or transportation expenses.
What’s an FSA?
Think of a flexible spending account (FSA) as a special savings account. You put money into your FSA, and spend it on eligible medical expenses. The money in your FSA is pre-tax. And it’s easy to use. The more you put in, the more tax savings you’ll get on certain costs throughout the year.
What are other reimbursement accounts that may be available to me?
There are special reimbursement accounts for day care, transportation and parking expenses too. Just like a health care FSA, the money is pre-tax and easy to use.
What can I spend my FSA money on?
Health care flexible spending accounts (FSAs) can be used for a few different things. They can be used for medical, vision or dental expenses. Other reimbursement accounts can be used for child care, or even parking and transportation expenses. Not everyone has all of these accounts.
Need help finding HSA and FSA eligible products?
HealthPartners has three ways to help you find HSA and FSA eligible products.
- Log on to your myHealthPartners account.
- Call Member Services at 952-883-7000 or 866-443-9352.
- Access Health Shopper for a complete list of eligible expenses.
Sign up for a myHealthPartners account
HealthPartners members can stay on top of their health plan claims and balances. It’s easy – just sign up or log on.
- See how much money is in your HSA and review the last 10 deposits or withdrawals. (Not available for everyone, check with your employer.)
- Check your deductible
- Review and manage claims
How much should I contribute?
Choosing how much to put in your flexible spending account (FSA) or other reimbursement account is a personal decision. You should add up how much you spent last year on eligible expenses. Include doctor visits, lab tests, prescription medicine, and eligible vision or dental services. Adjust it based on any changes you think might happen.
Keep in mind, FSAs generally have a “use it or lose it” rule. So only contribute what you’re sure you can use this year. Ask your employer if they allow you to keep unused FSA money for next year.
And, make sure you stay below the IRS limits. Once you decide an amount, money is deducted from your paycheck.
2020 IRS contribution limits
- Health care or limited-use FSA: $2,750
- Dependent care account: $5,000 for a single person or married filing jointly, and $2,500 for married filing separately
- Transportation account: $270 per month
- Parking account: $270 per month
How do I submit a claim?
Some employers have an automatic submission process for health care FSAs. If that’s you, we’ll process your claims automatically with no action needed from you. If there’s a problem with one of your claims, we’ll contact you about it.
For dependent care or transportation accounts, you’ll need to submit claims manually. Here’s what to do:
- Save a copy of your bill or receipt.
- Fill out a claim form (see options below).
- Submit the form and your bill or receipt.
Online: Log on to submit my claim
Smartphone or tablet: Download myHP mobile app
Mail: Print a claim form
What’s the difference between FSA, HRA and HSA?
All of these accounts help you save money with tax benefits.
- Flexible spending account (FSA) is pre-tax money you contribute for medical, dental or vision costs. Typically, this money is “use it or lose it” at the end of the year. Other reimbursement accounts can help you save on things like child care or transportation.
- Health reimbursement account (HRA) is pre-tax money from your employer for eligible health care expenses this year. Your employer decides the amount of money in your HRA each year and what’s an eligible expense.
- Health savings account (HSA) is pre-tax money contributed for you and your dependents’ health care expenses. Both you and your employer can contribute money to this account. Eligible withdrawals aren’t taxed and interest is earned tax-free too. Unlike other accounts, the money in your HSA is yours to keep forever.
Frequently asked questions
Find answers to your questions about FSAs and other reimbursement accounts.
- Flexible spending account FAQ
- Orthodontia reimbursement guidelines
- Top ways to spend your FSA dollars before the year-end
- Automatic claims submission opt out request form
- Dependent care expense claim form
- Direct deposit form
- Letter of Medical Necessity
- Health care expense claim form
- Spending account enrollment/election form
- Transportation and parking expense claim form
Example savings with a dependent care account
|Example||With a dependent care account||Without a dependent care account|
|ExampleTaxable income||With a dependent care account $40,000||Without a dependent care account$40,000|
|ExampleYour contribution||With a dependent care account-$5,000||Without a dependent care account$0|
|Example Net taxable income||With a dependent care account $35,000||Without a dependent care account$40,000|
|Example Taxes||With a dependent care account -$4,784||Without a dependent care account -$5,739|
|Example Expenses paid after taxes||With a dependent care account $0||Without a dependent care account -$5,000|
|Example Remaining income||With a dependent care account $30,216||Without a dependent care account $29,261|
|Example Your savings||With a dependent care account $955||Without a dependent care account$0|
- Choose how much to put in your flexible spending account next year. Create an online account to keep track of your money.
- Sign up for direct deposit. You’ll get reimbursements sent straight to your bank account.
- Save receipts for eligible expenses. Submit them for reimbursement by logging on to submit a claim.
This webpage has general FSA information. Please log on and refer to your employer’s plan document for information specific to your FSA.