Your employees save money while they plan for their expenses
When your employees use an FSA, their taxable income is reduced by the amount they contribute, up to the annual IRS limits. They can use the FSA to plan ahead and budget for eligible expenses in the upcoming benefit plan year and pay less because of their tax savings. Choose from different FSAs to meet your employees’ needs and complement your medical plan.
Types of FSAs
Healthcare FSA
- The FSA covers eligible expenses: medical, dental, vision, prescription, and certain over-the-counter items.
- Optum Now purchases are automatically approved.
Limited Purpose FSA
- FSA is compatible with an HSA.
- It covers eligible dental and vision expenses.
- It protects their HSA balance for deductible expenses and savings for the future.
Dependent Care FSA
- The FSA covers eligible expenses like dependent care while the employee is at work.
- Dependents are typically under 13 or older adults incapable of self-care.
Optum Financial payment card
More than 80% of payment card* claims are automatically verified as eligible expenses and do not require any additional paperwork.
Mobile app
Employees use our mobile app for the convenience of on-the-go banking, which allows them to take photos of and submit documentation for their purchases.
Related healthcare insights
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Article
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Complementary solutions
Health Savings Accounts
Health Reimbursement Arrangements
Lifestyle Spending Accounts
*Optum Financial payment cards are not available for dependent care FSAs.