HSA and FSAs
Healthcare Saving account – Must be enrolled in the Consumer Choice HSA Plan to be able to select this plan. A healthcare Saving Account (HSA) is a type of personal savings account that helps you save money for many out-of-pocket medical expenses like doctor visits, vision and dental care, and prescriptions. Unlike a FSA, money left in your HSA rolls over from year to year.
When you contribute to your HSA through Payroll deduction, University System will match you dollar-for-dollar until your contributions reach $375 for an individual or $750 for a family. In 2016, you can contribute a total of up to $3,350 for an individual or $6,750 for a family.
Healthcare Flexible Spending Accounts – Covers out of pocket healthcare, prescription drug, dental and vision expense. You can contribute up to $2,550 a year.
Dependent Care Flexible Spending Accounts – Helps you pay day care expenses, after school, and Summer camps for children under age 13, and care for a disabled dependent over age 13. You can contribute up to $5000 a year or $2,500 if you are single parent.
Logon to FSA Online: https://mycdh.optum.com