Flexible Spending Dollars
A few fast facts about FSAs
- FSAs are limited to $2,600 per year per employer. If you’re married, your spouse can put up to $2,600 in an FSA with their employer too.
- You can use funds in your FSA to pay for certain medical and dental expenses for you, your spouse if you’re married, and your dependents.
- You can spend FSA funds to pay deductibles and copayments, but not for insurance premiums.
- You can spend FSA funds on prescription medications, as well as over-the-counter medicines with a doctor’s prescription. Reimbursements for insulin are allowed without a prescription.
- FSAs may also be used to cover costs of medical equipment like crutches, supplies like bandages, and diagnostic devices like blood sugar test kits.
- You can spend FSA funds to pay for prescription eyewear; they are not allowed for non-prescription eyewear such as sunglasses.