Limited Purpose Flexible Spending Accounts:
Are you saving on dental and vision expenses?
Preparing for the unknown is tricky, but you can plan for the expected. Limited Purpose Flexible Spending Accounts (LPFSAs) are designed to help you save money and cover eligible dental and vision expenses—such as dental checkups, vision exams, braces, and eyeglasses.
Pre-taxed earnings from your paycheck go straight to your LPFSA and are available for use on the first day of your plan year. Additionally, if you also have a Health Savings Account (HSA), using your LPFSA instead of the HSA on eligible dental and vision expenses can allow your HSA balance to grow and continue accumulating tax-free interest.
- Coverage for you, your spouse, and other eligible dependents.
- Contribute as little or as much as you want, up to the legal limit set by the Internal Revenue Service and your employer.
- Funds may be forfeited at the end of the plan year if not used, dependent on your employer’s selections.