Tax-advantaged Accounts

Tax-advantaged Accounts

Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) help you save money by using pre-tax dollars for eligible health expenses:

• Health Savings Account (HSA): A tax-advantaged account available only to those enrolled in a qualifying High Deductible Health Plan (HDHP), used for eligible medical, dental, and vision expenses. It can be funded through payroll deductions, direct contributions, or both, and unlike FSAs, unused funds roll over year to year and stay with you even if you change jobs or health plans.

• Health Care FSA (HCFSA): A pre-tax account funded through payroll deductions, used for eligible medical, dental, and vision expenses. Your full annual election is available on day one of the plan year, regardless of how much you've contributed so far.

• Limited Health Care FSA (LHCFSA): A pre-tax account funded through payroll deductions, used for eligible dental and vision expenses only. Available only to those enrolled in the Health Saver Plan with an HSA. Your full annual election is available on day one of the plan year, regardless of how much you've contributed so far.

• Dependent Care FSA (DCFSA): A pre-tax reimbursement account funded through payroll deductions, used for eligible childcare and dependent care expenses. Funds accrue with each paycheck, so as your balance grows throughout the year, you can reimburse yourself for eligible dependent care expenses.

To learn more, read below and check out our HSA Fun Facts and FSA Fun Facts videos.

• Health Savings Account (HSA)

  Only for those in the Health Saver Plan

  Your own personal savings account that offers a triple-tax advantage: Contributions go in tax-free, grow tax-free, and are withdrawn tax-free (if used for qualified health care expenses).

  • You can contribute pre-tax dollars (up to the IRS limit) to pay for qualifying medical, prescription drug, dental, and vision expenses for you and your dependents.

  • La-Z-Boy makes an annual contribution to your HSA as well:

    • Employee only: $500

    • All other coverage levels: $1,000

  • If you particiapte in the Annual Wellness Program, you are eligible for a $520 HSA Reward, the year following participation.

  New for 2026: If you would like to keep your current contribution level, your 2025 contribution will carry over into 2026. If you’d like to increase or decrease your contributions, you must actively change this election during Open Enrollment.

• Health Care Flexible Spending Account (FSA)

  Available to Standard Plan members

  You contribute pre-tax dollars (up to the IRS limit) to pay for qualifying medical, prescription, dental, and vision expenses for you and your dependents.

  IRS FSA limits:

  • Contribution limit: $3,300

  You have until March 15 to use your previous year's funds, and claims must be processed against these funds by May 30. Any funds not used by March 15 will be forfeited.

• Limited Health Care FSA

  Available to Health Saver Plan members

  You contribute pre-tax dollars (up to the IRS limit) to pay for qualifying dental and vison (not medical) expenses ONLY for you and your dependents.

  Contribution limit: $3,300

• Dependent Care FSA

  Available to all employees

  You contribute pre-tax dollars up to the IRS limit to pay for qualifying out-of-pocket child and certain adult day care expenses.

  Contribution limit:

  • $7,500 per household; applies if you're married filing jointly or single/head of household

  • $3,750 per spouse; applies if married filing separately (limits apply individually)