Flexible Spending AccountsSet aside money tax free to pay for certain items you expect to purchase
A Flexible Spending Account (FSA) allows you to set aside money tax-free to pay for eligible expenses.
UK offers these FSAs through ASI Flex:
FSA for dependent care
Deposit up to $5,000 per household to spend on eligible child care and elder care expenses
Limited health FSA for those on Saver plan
You can have the HSA that comes with Saver insurance plus a limited-purpose health FSA
Making changes You must sign up each year in myUK during Benefits Open Enrollment
Benefits Open Enrollment: April 29 - May 15
Sign up during Benefits Open Enrollment for funds to appear on July 1, 2020.
Deadline to spend: June 30, 2021
You'll have a whole year to spend your funds, but make sure you do. Use your remaining account balance by the end of our fiscal year: June 30, 2021.
Note: If you have unused funds in your health FSA by June 30, 2021, up to $550 of your balance will be rolled over for use on July 1 and you'll lose any remaining balance above $550.
For every dollar set aside pre-tax, most people save at least 25%.
Keep your receipts! Some purchases will require follow-up verification. ASI Flex may deactivate your FSA debit card without a receipt.
See the full list of eligible expenses on ASI Flex's website here.
More details
Dependent care FSA
You may contribute $500 to $5,000 each year to this FSA. Each household has a maximum $5,000 contribution.
- Care for a child under age 13 at a daycare, camp, nursery school or a private sitter
- Elder care for an incapacitated adult who lives with you at least 8 hours a day
- Expenses for pre-school and after-school child care
Health care FSA
You may contribute $250 to $2,750 each year to this FSA.
- Acupuncture
- Birth control pills
- Chiropractic care
- Contact lenses & related materials
- Crutches
- Fertility treatment
- Hearing aids
- Laser eye surgery
- Over-the-counter (OTC) health items
- ASI Flex recommends saving your receipt and submitting a claim for OTC items rather than using your FSA debit card. Read more
Limited-purpose FSA for Saver insurance members
Any eligible expenses under dental and vision categories. You may contribute $250 to $2,750 each year to this FSA if you are also on the UK Saver health insurance plan.
- Contact lenses & related materials
- Dental care: Cleaning, fillings, crowns, etc.
- Eyeglasses
- Prescription sunglasses
