HEALTH

How do the Healthcare FSAs work?

The Healthcare FSAs allow you to pay for eligible medical, prescription drug, dental and vision care expenses on a pre-tax basis with money you elect to have deducted from your paycheck.

Peraton offers two types of Healthcare FSAs:

Healthcare FSA

You can set aside pre-tax dollars, up to IRS limits, to help pay for eligible medical, prescription drug, dental and vision expenses. Because IRS rules state you cannot have both an HSA and a Healthcare FSA at the same time, the Healthcare FSA is available only if you are not enrolled in the Classic, Value or Kaiser HDHP plan. You can also participate in the Healthcare FSA if you are enrolled in a non-HSA-eligible medical plan with your spouse/domestic partner.

Limited Purpose FSA

If you are enrolled in the Classic, Value or Kaiser HDHP plan, you can supplement your HSA savings with a Limited Purpose FSA to pay for eligible dental and vision expenses. Once you meet your medical plan’s deductible, you can also use your Limited Purpose FSA for eligible medical expenses.

YOU MUST ACTIVELY ENROLL EACH YEAR DURING ANNUAL ENROLLMENT TO CONTRIBUTE TO AN FSA.

You can contribute up to the IRS limit ($3,200 for 2024) to your FSA to pay for expenses you have for 2024. Estimate your contributions carefully. You have until March 31, 2025 to submit claims for expenses incurred in 2024. You can carry over up to $640 of unused 2024 funds to your 2025 account; the remaining balance will be forfeited.

Note: Peraton also offers Dependent Care and Commuter FSAs.