Flexible Spending Accounts (FSA)

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Flexible Spending Accounts (FSA)

With Ulta Beauty’s Flexible Spending Accounts (FSA), you can set aside tax-free money to pay for qualified medical and dependent care expenses.

Flexible Spending Accounts are “use-it-or-lose-it,” meaning that any unused funds remaining in your FSAs at the end of the plan year will be forfeited. Ulta Beauty offers a 2 1/2-month grace period to allow extra time to spend your remaining funds as well as a run-out period to file claims. This means you have from 9/1 to 11/15 each year to incur expenses and through 11/30 of that same year to submit claims for reimbursement.

Effective 9/1/2024, all flexible spending accounts are through HealthEquity. If you were enrolled in an FSA for the prior plan year (9/1/2023 – 8/31/2024), you will continue to submit receipts to PayFlex for that plan year (last day to submit receipts is 11/30/2024).

Plan Year	Incur eligible expenses with funds from plan year.	Submit claims for reimbursement or substantiate card expenses.	Provider
9/1/23 – 8/31/24	9/1/23 – 11/15/24	9/1/23 – 11/30/24	PayFlex
9/1/24 – 8/31/25	9/1/24 – 11/15/25	9/1/24 – 11/30/25	HealthEquity

Healthcare FSA

With healthcare flexible spending accounts, you can elect to have pre-tax dollars deducted from your paycheck to pay for eligible out-of-pocket healthcare expenses for you and your family.

Eligibility: Full-time associates

Provider: HealthEquity

Enroll: https://ultabenefits.bswift.com/

You can elect to deduct $130 to $3,200 annually to be divided among the number of paychecks left in the plan year.* You will receive a debit card pre-loaded with your annual election directly from HealthEquity. Use the card to pay for eligible expenses such as copays, deductibles, and prescriptions. A complete list of eligible health care expenses can be found on www.healthequity.com/fsa-qme.

*Associates do not have to be enrolled in an Ulta medical plan to participate but you cannot be enrolled in a High Deductible HSA Medical Plan. If you are enrolling in an HSA Plan, you may elect the Limited Purpose FSA.

Limited Purpose FSA

Eligibility: Full-time associates

Provider: HealthEquity

Enroll: https://ultabenefits.bswift.com/

A limited purpose FSA is designed for associates enrolled in the Health Savings Account plan and is limited to dental and vision expenses.

You can elect to deduct $130 to $3,200 annually to be divided among the number of paychecks left in the plan year.* You will receive a debit card pre-loaded with your annual balance directly from HealthEquity. A list of eligible expenses can be found here.

Dependent Care FSA

Eligibility: Full-time associates

Provider: HealthEquity

Enroll: https://ultabenefits.bswift.com/

Dependent Care allows you to deduct pre-tax dollars from your paycheck to use to pay for eligible dependent care services such as preschool, day care, or eldercare. This allows you to pay less in taxes and take home more of your paycheck.

You can elect to deduct $130 to $5,000 annually per household to be divided among the number of paychecks left in the plan year.* Debit cards are not provided for the Dependent Care Accounts - you must submit a claim to be reimbursed up to the amount you’ve contributed to date in your account. A list of eligible expenses can be found here.

Commuter FSA

Eligibility: All associates

Provider: Health Equity

Enroll: www.healthequity.com/learn/commuter

Commuter benefits allow you to set aside pre-tax dollars to pay for qualified mass transit and parking expenses associated with your commute to work. Contributions to your commuter account are deducted from your paycheck on a pre-tax basis, reducing your taxable income. The maximum pre-tax commuter payroll deduction amount is $315/month for transit and $315/month for parking.

Keep in mind, you make elections monthly directly with HealthEquity and not on the bswift enrollment site. You can enroll by creating an account with HealthEquity and placing an order for a one-time or recurring monthly train, bus, ferry, vanpool, or parking expenses. All orders must be submitted in advance of usage. For example, if you want to use commuter funds on July 1^st, your order must be placed by June 5^th for July.