Tax Free Spending and Savings Accounts

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.

Dependent Care FSA

Use dependent care FSA money to pay for dependent care expenses, including:

• Day care at home and licensed centers for children up to age 13 
• Day care at home and licensed centers for dependents of any age who are mentally and/or physically disabled  

Choose your contribution amount during enrollment to be credited to your account each pay period starting Jan. 1.

• Once you enroll, you cannot change your contribution amount until the following year, unless you experience a qualifying life event.*
• This account is 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.

The IRS contribution limits for 2021:

• Married or single parent: $100 minimum to $5,000 maximum
• Married and filing separately: $100 minimum to $2,500 maximum each

Use your Optum Bank debit card for eligible expenses. Or, file a claim with Optum Bank for reimbursement.

SEE ELIGIBLE EXPENSES

^{Note: Filter by account type.}

^{*For the dependent care FSA, some examples of possible qualifying life events 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.}