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Tips for spending your FSA dollars

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Use it or lose it

It’s important to understand that in most cases flexible spending accounts (FSAs) do have a “use it or lose it” rule. That means you would lose any money left in your account at the end of the plan year. See the information below on how to help manage your FSA funds.

Resources to maximize your FSA funds

   

Unsure of what expenses qualify?

Use the Qualified Medical Expenses search tool to check if an expense qualifies to use your FSA funds on.

Introducing Optum Store

Shop at the Optum Store, where you’ll find HSA- and FSA-eligible products you need at prices you’ll love.

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Tax savings 

Your taxable income is reduced by the amounts you deposit into your FSA accounts, up to IRS limits.

2024 limits:

  • Health care FSA max IRS election: $3,200
  • Dependent care FSA max IRS election:
    • Individual: $2,500
    • Family: $5,000

2023 limits:

  • Health care FSA max IRS election: $3,050
  • Dependent care FSA max IRS election:
    • Individual: $2,500
    • Family: $5,000