FSA, DCFSA, LPFSA and HSA

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Township High School District 214 offers employees a Flexible Spending Account (FSA), Dependent Care FSA (DCFSA), Limited Purpose FSA (LPFSA) and Health Savings Account (HSA) through MyChoice Accounts.

Health Flexible Spending Account (FSA)

A Flexible Sending Account (FSA) is a tax advantaged account that allow employees to set aside up to $3,200 on a pre-tax basis to cover eligible medical, dental, and vision expenses.

*Note: If you're enrolled in the H.S.A., you cannot participate in the FSA. You will need to enroll in a limited purpose FSA, see below for information.

Limited Purpose Flexible Spending Account (LPFSA)
A Limited Purpose Flexible Spending Account is a tax advantaged account that allows employees to set aside up to $3,200 for vision and dental expenses ONLY. A LPFSA also allows you to be enrolled in an HSA as well.
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Health Savings Account (HSA)
A Health Savings Account (HSA) is a tax-favored advantaged savings account designated for qualified medical expenses that provides triple-tax advantages: contributions, investment earnings, and qualified distributions - all are exempt from federal income tax, FICA (social security and Medicare) tax and state income tax (for most states). Unused dollars rollover from year to year, making HSAs an easy way to save and invest for future qualified medical expenses. Individuals can contribute up to $4,300 and families can contribute up to $8,550 for 2025. 
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Dependent Care Flexible Spending Account (DCFSA)
A dependent care FSA gives you the opportunity to pay for childcare, elder care, or other dependent care services with pre-tax dollars. You can contribute up to $5,000 per household. Eligible dependents include:
  • Children under the age of 13
  • A disabled spouse or aging parent, provided you can claim that person as a dependent on your federal income taxes
As you incur dependent care expenses, you may submit a claim for reimbursement not to exceed the amount that is in your account at the time of reimbursement.
 
My Choice Accounts Customer Service
888.532.5110
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For a list of eligible expenses under the FSA, LPFSA or HSA, review the IRS publication 502 online here. For a list of eligible expense under the DCFSA, review IRS publication 503 here. Businessolver also has a list of eligible of expenses for the FSA, LPFSA, DCFSA and HSA here.


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