Tax Free Spending and Savings Accounts | Baylor Scott & White Health

Don't Forget

Keep in mind, the FSA accounts are subject to use it or lose it rules, which means that you have until March 15 of the following calendar year to incur eligible expenses, then until April 30 to submit final claims. Dollars remaining in the account after April 30 will be forfeited.

See a list of eligible expenses

How They Work

Tax-free spending and savings accounts allow you to set aside pre-tax money to pay for certain expenses.

Healthcare accounts can be used for eligible medical, dental and vision expenses.
Dependent care accounts can be used for eligible adult or childcare expenses.

The amount you contribute comes out of your paycheck before taxes, giving you a tax savings advantage.

We offer four tax-free spending and savings accounts—three for health expenses and one for dependent care expenses. Optum Bank administers all four accounts. The chart below shows how the accounts pair with our medical plans.

Comparison Chart

Account Type	Expense Type	Annual Deadline	SEQA/EQA Plans	PPO Plan	HSA Plan
General-purpose FSA _{(also available for those not enrolled in a medical plan)}	Healthcare	Yes	Yes	Yes	-
Limited-purpose FSA	Healthcare*	Yes	-	-	Yes
Dependent Care FSA	Dependent Care	Yes	n/a	n/a	n/a
Health Savings Account	Healthcare	No	-	-	Yes

_{*The Limited-purpose FSA can be used for dental, vision and qualified expenses the medical plan doesn't cover until you meet your medical plan deductible. Once your deductible is met, you can use FSA funds for all eligible medical and prescription expenses, too.}

_{HSA Plan enrollees can be enrolled in both the limited-purpose FSA and the HSA.}

_{Dependent care FSA is available to all eligible employees, whether enrolled in a medical plan or not.}

View FSA-HSA Chart PDF

Flexible Spending Accounts (FSA)

Details

You choose your contribution amount during enrollment.

FSAs are subject to use-it-or-lose-it rules, which means you have until March 15 of the following calendar year to incur eligible expenses, then until April 30 to submit final claims. Dollars remaining in the account after April 30 will be forfeited.

You cannot change your contribution amount until the following year, unless you experience a qualifying life event. If you are newly enrolled, you’ll receive an FSA card from Optum Bank. If you have previously participated in the plan, be sure to keep your card until it expires.

Eligible expenses

Use the search tool to find out what expenses qualify.

Filter by account type and expense type to learn what you can cover with your flexible spending account.

Search now

Watch: How to file a claim

General-Purpose FSA

Contribution limit: $2,850

Use to pay for eligible medical, dental and vision expenses

The entire balance is available for use right away, with contributions deducted from your paycheck throughout the year.

Limited-Purpose FSA*

Contribution limit: $2,850

Before you meet your deductible, you can use your account to pay for qualified dental and vision expenses such as:

Orthodontia or laser eye surgery
Glasses and contacts
Dental coinsurance

After you meet your deductible, you can also use funds to pay for eligible medical and prescription expenses (Contact Optum to initiate).

The entire balance is available for use right away, with contributions deducted from your paycheck throughout the year.

_{*For HSA medical plan enrollees only}

Dependent Care FSA

Minimum contribution: $100
Maximum contribution:

Married or single parent: $5,000
Married, filing separately: $2,500 each

Use funds to pay for dependent care expenses, such as day care at home and licensed centers for children up to age 13; or day care at home and licensed centers for dependents of any age who are mentally and/or physically disabled.

The funds are available when deposited, with contributions deducted from your paycheck throughout the year.

Dependent care FSA is available to all eligible employees, whether enrolled in a medical plan or not.

Note: For the DCFSA, possible qualifying life events could include returning your child to daycare, enrolling your child in after-school care or other care services that have a cost, and/or adjusted fee schedules from daycare providers.

Health Savings Account (HSA)

Contribution limits for 2023:

Employee-only coverage: $3,850
Employee with dependent coverage: $7,750
If you’re 55 or older, you can make an additional catch-up contribution of $1,000 each year.

Use your HSA money to pay for eligible medical, dental and vision expenses, or save it for the future.

Although you choose a contribution amount during enrollment, you can update it anytime throughout the year. The amount you choose will be deposited to your account in increments each pay period.* If you are newly enrolled, you’ll receive an HSA card from Optum Bank. If you have previously participated in the plan, be sure to keep your card until it expires.

HSAs have no use-it-or-lose-it rules!
Any funds you have in the plan will continue to rollover and can be taken with you if you leave.

_{Reminder: If you are currently enrolled in Medicare, you cannot contribute to a HSA
*If you enroll during annual enrollment, elections will begin Jan. 1 the following year.}

Additional HSA resources

Eligible expenses

Use the search tool to find out what expenses qualify.

Filter by account type and expense type to learn what you can cover with your flexible spending account.

Search now

Update your HSA contributions

You can update your HSA contribution at any time throughout the year by contacting PeoplePlace.

After submission, please allow 1-2 pay periods for your request to be processed.

PeoplePlace > Request Help

_{Note: Log in required.}

Manage your accounts
Log in to Optum Bank
We parter with Optum Bank to adminster all of our tax-free savings accounts.
Log in Call 800.243.5543

Helpful Resources

Manage your accounts

Manage your account through Optum Bank.

Download the Optum Bank App for iOS and Android.

Download Now

Have a question about your tax-savings account?

Optum Bank is there to help.

Call 800.243.5543

Not sure how much you should save?

Learn how to make the most of your health accounts and estimate how much you should save with helpful tools.

Go Now

This site summarizes the programs and benefits available to employees and their eligible dependents. Official plan documents, policies and certificates of insurance that contain the details, conditions, maximum benefit levels and restrictions on benefits govern our benefits program and are available on this site. In case of a conflict between this site and the official documents, the official documents prevail. The information on this site isn't a guarantee of benefits. Baylor Scott & White reserves the right to modify or terminate its employee benefit plans and programs at any time for any reason.

Click here if you have feedback on the website or need to report an issue. All other questions and issues, please contact the corresponding resource on the Need Help page.

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Tax-Free Spending and Savings Accounts

Set aside money on a pre-tax basis to pay for eligible expenses. The accounts help you cover eligible expenses with dedicated funds, while also getting a tax savings advantage.

See below for 2023 details.

Don't Forget

How They Work

Comparison Chart

Health Savings Account (HSA)

Manage your accounts

Log in to Optum Bank

Tax-Free Spending and Savings Accounts

Set aside money on a pre-tax basis to pay for eligible expenses. The accounts help you cover eligible expenses with dedicated funds, while also getting a tax savings advantage.See below for 2023 details.

Don't Forget

How They Work

Comparison Chart

Health Savings Account (HSA)

Manage your accounts

Log in to Optum Bank

Set aside money on a pre-tax basis to pay for eligible expenses. The accounts help you cover eligible expenses with dedicated funds, while also getting a tax savings advantage.

See below for 2023 details.