Health

Health Care and Limited Purpose Flexible Spending Account

The Health Care and Limited Purpose Flexible Spending Account (FSA) lets you set aside money to pay for eligible health care expenses – before taxes are taken out of your paycheck. That means you pay less in taxes. Regular associates who are scheduled to work 20 or more standard hours per week are eligible to enroll. You may enroll as a new hire, if you experience a qualifying life event, or during Open Enrollment only each calendar year. You must re-enroll every year.

To view full program details, including summary plan descriptions/overviews (as applicable), access the Library by going to Learn in the header and then selecting Resource Library. If the Library is not visible, you must be logged in first as a regular associate.

How the Plan Works - See IRS Publication 502 for IRS details about eligible expenses

Pre-tax Flexible Spending Account

For a Health Care Flexible Spending Account, you can use the money, based on your election for the applicable Plan year, to pay for eligible medical, dental, and vision expenses.
If you are enrolled in the SavingsPlus HSA plan option your Flexible Spending Account would be deemed “Limited Purpose” and can only be used for dental and vision expenses. Please see the Limited Purpose FSA section below for more details.
You can use the money, based on your election for the applicable Plan year, to pay for eligible medical, dental, and vision expenses (see below “If you are enrolled in the SavingsPlus HSA plan option” regarding Limited Purpose FSAs for dental and vision expenses only)
You can use your total annual contribution at any time. For example, if you contributed $2,000 for the year and incur $2,000 worth of expenses in February, you can be reimbursed for the entire amount at that time. You do not need to wait until you contribute $2,000 to your account.
You can only elect to participate or change your election as a new hire, during Open Enrollment or if you have a qualified change in status.
You must re-enroll every year during Open Enrollment

Unused Balances

For plan year 2023, you have until June 30 of the following year to submit for eligible FSA expenses incurred through December 31 of the prior calendar year (for which you had an active annual FSA election).
Starting plan year 2024, you have 90 days from the end of the plan year to submit for eligible FSA expenses incurred through December 31 of the prior calendar year (for which you had an active annual FSA election).
Unused balances are forfeited if not utilized by the end of each calendar year

Contributions & Limits

The IRS sets maximum contribution limits for FSAs each year.
For 2024 the Broadridge total contribution limit (including the Broadridge contribution) is $3,050 (2023 limit is $2,850).
Broadridge will match up to $100 of your annual contributions (for General Purpose HealthCare FSA only).
You can contribute from $100 to $2,950.
Your total annual election is divided into equal deductions throughout the year.

Limited Purpose FSA

If you enroll in the SavingsPlus HSA, you may also contribute to a Limited Purpose Health Care Flexible Spending Account (LPFSA) in addition to a Health Savings Account.
You cannot use it for medical or prescription drug expenses and you also will not receive the $100 Broadridge contribution.
Compare HSAs and FSAs

* This information is not intended to provide you with personal tax or financial planning advice. Broadridge does not guarantee, and does not have any responsibility for the tax, legal, or other implications of an individual’s participation in or contributions to an HSA. It is recommended that you review your individual situation with your personal tax advisor.

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