Flexible spending accounts (FSAs) can help your health care dollars go further during open season — but only if you plan accordingly, experts say.
FSAs allow you to set aside money pretax to pay for health and dependent care expenses. You can enroll in an FSA during this year’s open season benefits enrollment period, which runs from Nov. 13-Dec. 11.
The maximum amount you can contribute is $2,650 toward a health care FSA and $5,000 toward a dependent care FSA.
With FSA Feds, you can roll over as much as $500 into the next year in your health care FSA. Anything above this amount must be used by Dec. 31. There is no grace period for health care FSAs this year.
You can learn more about FSAs on the Open Season and Flexible Spending Accounts LiteBlue pages.