Flexible Spending Accounts (FSAs) let you set aside pre-tax dollars for eligible expenses and lower your taxable income. Tulane offers a Health Care FSA and a Dependent Care FSA. Administered by HealthEquity. Details below:
Overview
- Two account types: Health Care FSA and Dependent Care FSA.
- Use pre-tax payroll deductions for eligible expenses.
- Accounts are separate—you can enroll in one, both, or neither; funds cannot be shared between them.
- You must enroll each year; you are not automatically re-enrolled.
2025 Plan Maximum Contributions
| Account | 2025 Maximum Contribution | Examples of Covered Expenses |
|---|---|---|
| Health Care FSA | $3,300 | Copays, deductibles, orthodontia, eligible OTC medications, etc. |
| Dependent Care FSA | $5,000 | Day care, nursery school, elder care, etc. |
For comprehensive lists of eligible expenses, see IRS Publications 502 (medical/dental) and 503 (dependent care).
- During Open Enrollment, choose how much to set aside for health care and/or dependent care expenses for the year.
- Your contributions are taken from your paycheck before taxes in equal installments throughout the year.
- Pay for eligible expenses by submitting a claim for reimbursement—or use your FSA card at the point of sale.
FSAs are administered by HealthEquity.
- Grace period: You may continue to incur expenses from January 1 through March 15 for the prior plan year.
- Submission deadline: Submit expenses for both Health Care and Dependent Care FSAs by April 30.
- Unspent funds after the grace period are forfeited. Calculate your election carefully. Annual re-enrollment is required.
Healthcare Items You Might Not Realize Are Eligible
- Sunscreen
- Heating and cooling pads
- First aid kits
- Shoe inserts and certain foot-care items
- Travel pillows
- Motion sickness bands
Always verify eligibility before purchase and save your receipts.
