Flexible Spending Accounts (FSAs) reduce your taxable income by allowing you to set aside pre-tax dollars to use toward eligible health care and dependent day care expenses throughout the year. This pre-tax deduction lowers your taxable income, reducing the amount of tax you owe on your bi-weekly paycheck. You do not have to be enrolled in a BJC medical, dental or vision plan to enroll in an FSA.
Two FSAs are available to you, both administered by Optum Financial.
Health Care FSA
- Reimbursement of eligible health care expenses for you and your dependents.
- Elect up to $2,850 for 2023.
- Qualified expenses include medical, dental, vision, hearing and other health-related costs, such as copayments and deductibles. Some over-the-counter medications and supplies are eligible.
- Use the convenient FSA card to pay for eligible health care expenses.
- Deadline to submit claims is March 31 of the following year (different rules apply if you terminate employment or lose eligibility during the year).
- Carry over $50 to $610 of unused funds (funds available mid-April) if you enroll in a Health Care FSA.
Dependent Care FSA (day care)
- Reimbursement of eligible day care expenses for children under 13.
- Reimbursement for eligible care expenses for your disabled spouse or disabled dependent of any age.
- To be eligible for this account, you must be working. If you are married, your spouse must be working, looking for work, be a full-time student, or be incapable of self-care.
- Elect up to $5,000 each year (combined household limit).
- Qualified expenses include before-and-after school programs, nursery or preschool, summer day camp, and adult care.
- Deadline to submit claims is March 31 of the following year (different rules apply if you terminate employment or lose eligibility during the year).
- No carry over; "use it or lose it" rule applies.
Learn More
Visit Optum online to view a complete list of eligible expenses, check your balance, file claims, request direct deposit and more. Submit claims online or via mobile app. Speak to a Optum Financial representative at 877.292.4040.