Flexible Spending Accounts (FSAs) help you save on taxes while paying for eligible healthcare and dependent care expenses. Pre-tax contributions reduce your taxable income, making your benefits dollars go further.

💊 Medical (Health) FSA

A Medical FSA lets you use pre-tax dollars for out-of-pocket healthcare costs:

• Co-payments & deductibles

• Prescription medications

• Durable medical equipment (DME)

• Certain over-the-counter items

📝 Key Rules:

• Annual Maximum: $3,300 per participant

• Cannot participate in both a Health FSA and an HSA

  • Dental & Vision FSA is allowed even if your spouse has an HSA

  • If your spouse participates in a HDHP with HSA be cautious with your FSA enrollment, as their HDHP/HSA elections could affect tax eligibility

  • 💡Tip: Only one plan/account can reimburse the same expense

• Funds are use-it-or-lose-it

👶 Dependent Care (Day Care) FSA

Helps cover day care or adult dependent care using pre-tax dollars:

💰 Key Highlights:

• Annual Maximum: $7,500 per household ($3,750 if married filing separately)

• Qualifying Individuals:

  • Child under 13

  • Spouse or adult dependent unable to care for themselves, living in your home ≥8 hours/day

  • Children in joint custody may qualify – contact ASIFlex

• Qualified Providers:

  • Care in or outside your home

  • Facilities with >5 individuals must be state licensed

  • Cannot pay your spouse, child under 19, or dependents you claim for taxes

• Tax Advantage:

  • Alternative to federal tax credit; cannot claim both for same expense

  • Saves ~25% of eligible expenses depending on tax bracket

💡 Tip: Consult a tax advisor to determine if the Dependent Care FSA or federal tax credit is better.

📝 FSA Enrollment

• FSAs must be enrolled each year

• Enrollment is separate from your other Open Enrollment elections

• Open Enrollment for FSAs: Nov 1 – Dec 1, 2025

• Review additional info here: Missouri State University FSA Enrollment Guide

• Eligible expenses: ASI Flex Eligible Expenses

• Enroll here: MOCafe Enrollment

📅 2026 FSA Plan Year Timeline

🌐 Additional Resources

• Virtual Benefits Fair: MSU Benefits Fair

• HR News & Updates: Follow the HR Blog

• Employee Wellness News: Follow the Wellness Blog

FSAs are an easy way to save on taxes while covering healthcare and dependent care expenses. Be sure to review your needs and enroll separately during Open Enrollment to take full advantage of these benefits.