FLEXIBLE SPENDING AND HEALTH SAVINGS ACCOUNTS
Health care accounts can be used to help offset your out-of-pocket health care expenses, such as co-payments, prescription medications, dental work, eye glasses, and lab work.
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Account Information
Health Flexible Spending Account (FSA)
Health Savings Account (HSA)
Two Party or Family: $8,300
Age 55+: additional $1,000 catch up
Two Party: $500; additional dollar for dollar match up to $1,000.
Family: $500; additional dollar for dollar match up to $1,000.
HSA Contribution Rules
Contribution limits include contributions made by the employee and Stampin’ Up! An HSA is an individual account, meaning you can only contribute to an HSA that is setup in your name. If your spouse also contributes to an HSA, they must have a separate
account in their name and the amount contributed in total to both accounts should not exceed the annual contribution limit.
Your allowed annual contribution is calculated based on the number of months covered by a qualified HDHP and your coverage type (employee only or family). For example, if you have employee-only coverage eight months of the year, your maximum contribution is $2866 ($4300/12 x 8).
Per the last-month rule (IRS Publication 969), if you are eligible on the first day of the last month of your tax year (usually December 1), you are considered eligible for the entire year. You may contribute up to the annual maximum IRS
limit, but only if you maintain qualified HDHP coverage for the entire following year.
Limited Purpose FSA
Employees enrolled in the HDHP may elect to contribute to a limited purpose FSA. A limited purposed FSA only allows reimbursement of dental and vision expenses since they are not eligible for payment under the HDHP. However, you may also use your HSA funds for qualifying dental and vision expenses.
Dependent Care FSA
A dependent care FSA is funded with pre-tax dollars and can be used to pay for care of a dependent child, dependent parent, or other legal dependent. It is not pre-funded with your annually selected amount. Money is deposited into the account as it is deducted from your pay and is only available to use after being deposited into the account.
- Only expenses that allow you and your spouse (if married) to work are eligible for reimbursement under the plan.
- Services must be incurred in the plan year (January 1–December 31) or in the 60 day grace period after the plan year.
- Use it or lose it. You will lose funds not used by the end of the 60 day grace period.
- There is a 120-day period to submit reimbursement requests following a plan year.
FSA Account Access
As a participant in an FSA, you may use the Fidelity website to access your personal account to submit claims, view detailed claims history, access account information, and update your personal information.
HSA Account Access
Stampin’ Up! partners with Fidelity to administer HSA accounts. In order to receive all Stampin’ Up! contributions and contributions you have elected to make through payroll deductions, you must open a Fidelity HSA. To do this, login to
Fidelity’s website
using the same login information you use for your 401k account, click the open link next to Health Savings Account and follow the online instructions.
After you have opened an HSA with Fidelity, you may transfer savings from other
HSA providers using the Fidelity HSA Transfer form or online.
Stampin’ Up! pays the administrative fee for this service
while you are actively employed; you will be responsible for the monthly service fee after termination of employment.