Most Popular Questions
How does a LEX HCFSA save me money?
IRS rules do not allow you to contribute to a Health Savings Account (HSA) if you are covered by any non-qualifying health plan, including a general-purpose Health Care FSA. By limiting FSA reimbursements to qualifying dental and vision care expenses, you (or your spouse) remain eligible to participate in both a LEX HCFSA and an HSA. Participating in both plans allows you to maximize your savings and tax benefits. The money you contribute to a LEX HCFSA is not subject to payroll taxes, so you pay less in taxes and take home more of your paycheck.
Plus, when you reenroll in a LEX HCFSA, you can carry over up to $500 remaining in your account from one plan year to the next, so there's no "use or lose" risk.