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 $3,050 for 2024.
- 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.
- Plan year 2023: Carry over $50 to $610 of unused funds (funds available mid-April) if you enroll in a Health Care FSA.
- Plan year 2024: Carry over $50 to $640 of unused funds.
- Participants must elect the Health Care FSA for the following year to be eligible for carry over funds from the previous year.
- The Health Care FSA is not available to those enrolled in a HDHP medical option.
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.
- No carry over; "use it or lose it" rule applies.
Both FSAs
- Submit claims online or via mobile app by March 31 of the following year.
- If you change your employment status and become ineligible for this benefit, or you leave BJC during the year, you will be able to use funds in your account(s) for claims incurred through the end of the month in which your status changes or you leave BJC. You will then have 90 days to submit receipts for reimbursement. Any funds remaining in your account(s) after that date are forfeited.
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.