A Limited Purpose FSA allows you to put aside before-tax money to pay for eligible dental and vision expenses only if you are enrolled in Option C under the Medical Plan. Use your Limited Purpose FSA to pay deductibles, copays and coinsurance related to dental and vision expenses only. Other eligible health care expenses include eyeglasses, laser eye surgery and orthodontia. For a complete list, see IRS Publication 502. The Limited Purpose FSA is administered by Smart-Choice.
For 2023: Contribute up to the IRS maximum of $3,050.
To pay for eligible Limited Purpose FSA expenses, use the Smart-Choice debit card to pay at the time of service or purchase, like you would use a debit or credit card. With the Smart-Choice debit card, you don’t have to fill out forms or wait for reimbursements. Eligible expenses will automatically be debited from the correct account—either the HSA or the Limited Purpose FSA—depending on which account the purchase is eligible for.
- For 2023: Eligible Limited Purpose FSA expenses must be incurred by December 31, 2023, and submitted for reimbursement by April 30, 2024.
Use it or lose it: By law, any amount in your Limited Purpose FSA that is not timely claimed by you must be forfeited. Estimate your projected dental and vision expenses and potential tax-savings with the FSA Calculator on the Benefit Center website.