Flexible Spending Account (FSA)
Under Bethel's Flexible Benefits Plan (FLEX), you may elect to have a portion of your pay set aside before any taxes have been deducted to be applied to the payment of your share of life and/or health insurance premiums or contributed to Health Care and/or Dependent Care Reimbursement accounts. These amounts are then not subject to federal and state income or Social Security taxes.
Bethel's Flexible Spending Account(FSA) Provider: Optum
Customer Service Number:
800.243.5543
www.optumbank.com
Health Care FSA Maximum and Rollover
The maximum annual amount allowed for health care FSAs has increased to $3,200 in 2024. The annual rollover amount is $640.
Dependent Care FSA Maximum and Rollover
The maximum salary-reduction limit will remain at $5,000 (or $2,500 for married couples filing separately) for 2024, although there are adjustments to other general tax limits and child tax credit limits that can affect the federal tax savings under a Dependent Care account. There is no carry over of dollars year to year.
Limited Purpose FSA Maximum and Rollover
The maximum annual amount allowed for limited purpose FSAs is $3,200. The annual rollover amount is $640.
If you enrolled in the High Deductible Health Plan (HDHP) along with a Health Savings Account (HSA), you may participate in limited purpose FSA. A limited purpose FSA (LPFSA) allows you to pay for eligible out-of-pocket dental and vision expenses with pre-tax dollars. This account is set in this way so that it can be used alongside a Health Savings Account. You may use your Health Savings Account to pay for regular medical expenses.
Flexible Spending Account Documents:
Optum FSA Quick Guide
Optum FSA Eligible Expenses
Optum FSA Dependent Care Eligible Expenses
Learn About FSAs
Optum Account
What can you do through your online Optum portal?
- Manage your Health Savings Account(HSA)
- Manage your Flexible Spending Account(FSA)
- Make deposits
- Pay bills
- Manage your investment activity
- Reimburse yourself
