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What are the differences between the Health Care and Dependent Care FSAs?

There are three major differences between the FSAs. First, each account has different eligible expenses; review them by selecting the following links: General Purpose Health Care FSA, Limited Purpose Health Care FSA, or Dependent Care FSA.

Second, is when account funds are available for you to use:

  • Health Care FSA - the entire Annual Goal is available at any time throughout the plan year, regardless of the amount that you have put into the account. That means when your plan year begins, you have access to your full Annual Goal. This is true for both the General Purpose (GPHC) and the Limited Purpose Health Care (LPHC) FSA.
  • Dependent Care FSA - you will only be reimbursed up to the amount currently in your account, regardless of the Annual Goal you have elected. For example, if you are submitting a reimbursement claim for $400.00 and only have $200.00 in the account, you will initially be reimbursed for $200.00 and reimbursed for the rest once the funds are deducted from your pay and deposited in your account.

Third, with the Health Care FSAs, you will have access to a Health Care FSA Card. The Card works like a debit card that gives you full access to your account funds. The Health Care FSA Card is not available for the Dependent Care FSA.