What are types of FSAs?
There are three types of FSA accounts:
- Health Care FSA (FSA)
- Limited purpose FSA (LPFSA)
- Dependent Care FSA (DCFSA)
What does each FSA cover?
- FSA: Medical, dental, vision and pharmacy expenses (for you and your dependents)
- LPFSA: Dental and vision expenses (for you and your dependents)
- DCFSA: Non-medical dependent care expenses (dependents only)
How is each type of FSA funded?
- FSA and LPFSA are both Front-loaded, meaning all funds are available to use on the plan effective date.
- DCFSA is payroll funded, meaning the money becomes available as payroll deductions are made throughout the plan year.
When does each type of FSA expire?
- FSA and LPFSA may have a run-out period, grace period, or carryover depending on what your employer offers
- DCFSA may have a run-out period or grace period depending on what your employer offers
| Health Care FSA (FSA) | Limited Purpose FSA (LPFSA) | Dependent Care FSA (DCFSA) | |
| Covers | Medical, dental, vision, pharmacy | Dental, vision | Non-medical dependent care |
| How the account is funded | Front-loaded | Front-loaded | Payroll funded |
| Time to spend funding | Run-out period, grace period, carryover | Run-out period, grace period, carryover | Run-out period, grace period |