| 19 | Flexible Spending Accounts (FSA) Flexible Spending Accounts (FSAs) give you the opportunity to lower your taxes by paying for eligible health care and dependent care expenses on a pretax basis. You choose whether to participate in one or both of the accounts during each year. The FSAs are funded entirely with your contributions, which are made with pretax dollars from your paycheck. Eligible Expense Reimbursement: 2024 FSA Plan Funds For your 2024 plan year, you will be able to submit an eligible expense with a date of service between January 1, 2024 and December 31, 2024 and be reimbursed with your 2024 plan year funds. All eligible claims must be submitted by March 31, 2025. As you choose to participate, there are a few things to keep in mind: UNDERSTAND THE “USE-IT- OR-LOSE-IT” RULE. Unspent money left in your FSA accounts is forfeited after the end of the year. EACH ACCOUNT IS SEPARATE. You cannot transfer money between the health care and dependent care accounts. NO AUTOMATIC RENEROLLMENT IRS rules require you to actively re- enroll in the FSAs each year if you want to contribute pretax dollars. SAVE YOUR RECEIPTS. You may be required to submit them to HealthPartners to document your expenditures. CHOOSE YOUR CONTRIBUTION AMOUNT WISELY. Once you choose your FSA contribution amount, your election cannot be changed during the year without a qualifying life event. ENROLL IN DIRECT DEPOSIT. The fastest way to get your reimbursement is to enroll in direct deposit. Besides accessing your reimbursement faster, you’ll also avoid a fee of $5 per reimbursement check issued.