Flexible Spending Account

A Flexible Spending Account (FSA) allows you to use pre-tax dollars to pay for qualified expenses. The Dependent Care funds you contribute to your account need to be spent before the grace period or you lose them. The Medical funds you contribute to your account need to be spent before the runout period or you lose anything over the IRS Limit.

Type	Contribution Limit 2026	How It Works	Runout Period (Jan 1st- Mar 31st)	Rollover Provision
Medical (Limited Purpose if enrolled in HSA)	$3,400	• Set Contribution amount for the year. • Amount will be deducted pre-tax from each paycheck. • Your total contribution is available on the first day of coverage.	Provides time to file claims on expenses incurred in previous year.	Allows you to roll over up to the IRS limit $660 from the previous plan year to use throughout the new year.

Type	Contribution Limit 2026	How It Works	Runout Period (Jan 1st- Mar 31st)	Deadline to Submit (Mar 31st)
Dependent Care	$7,500	Contribution amount for the year. • Amount will be deducted pre-tax from each paycheck. • Funds are available as soon as your contributions are deposited into your account each	Use previous year’s FSA dollars for expenses in grace period.	All previous year FSA expenses including grace period expenses.

Downloads

FSA Brochure

FSA-Limited Purpose

FSA-Dependent Care

Provided By

Bank of America

Provider Website

https://healthaccounts.bankofamerica.com/

Customer Service

1.800.718.6710

Resources

Frequently Asked Questions