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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.

  1. Log on to your myHealthPartners account.
  2. Call Member Services at 952-883-7000 or 866-443-9352.
  3. 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:

  1. Save a copy of your bill or receipt.
  2. Fill out a claim form (see options below).
  3. 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.

 

We’re here to help. See what your employer’s plan covers by logging on to view your FSA benefits.

Or call us at 952-883-7000 or 866-443-9352, Monday – Friday, 7 a.m. to 7 p.m. CT.

Print a 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

Action plan

  1. Choose how much to put in your flexible spending account next year. Create an online account to keep track of your money.
  2. Sign up for direct deposit. You’ll get reimbursements sent straight to your bank account.
  3. 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.

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