How they Work

Tax-free spending and savings accounts allow you to set aside pre-tax money to pay for certain expenses.

Healthcare accounts can be used for eligible medical, dental and vision expenses.
Dependent care accounts can be used for eligible adult or childcare expenses.

The amount you contribute comes out of your paycheck before taxes, giving you a tax savings advantage.

We offer four tax-free spending and savings accounts—three for health expenses and one for dependent care expenses. Optum Bank administers all four accounts. The chart below shows how the accounts pair with our medical plans.

View FSA-HSA Chart PDF

Flexible Spending Accounts (FSA)

General-Purpose FSA

Use your general-purpose FSA dollars to pay for eligible medical, dental and vision expenses.

Once enrolled, you’ll receive a fully loaded FSA debit card from Optum Bank. The entire balance is available for use right away and contributions are deducted from your paycheck throughout the year.
You cannot change your contribution amount until the following year, unless you experience a qualifying life event.
These accounts are subject to use it or lose it rules, which means that you have until March 15 of the following calendar year to incur eligible expenses, then until April 30 to submit final claims. Dollars remaining in the account after April 30 will be forfeited.

The maximum contribution limit for 2021 is $2,750.

Learn about Qualifying Life Events

See Eligible Expenses

Limited-Purpose FSA

(for HSA medical plan enrollees only)

Before you meet your deductible, you can use your account to pay for qualified dental and vision expenses such as:

Orthodontia or laser eye surgery
Glasses and contacts
Dental coinsurance

After you meet your deductible, be sure to contact Optum so you can use your limited-purpose FSA money to pay for eligible medical and prescription expenses too.

Once enrolled, you’ll receive a fully loaded FSA debit card from Optum Bank. The entire balance is available for use right away and contributions are deducted from your paycheck throughout the year.
You cannot change your contribution amount until the following year unless you experience a qualifying life event.
These accounts are subject to use it or lose it rules, which means that you have until March 15th of the following calendar year to incur eligible expenses, then until April 30 to submit final claims. Dollars remaining in the account after April 30 will be forfeited.

The maximum contribution limit is $2,750.

Call Optum at 800.243.5543

See Eligible Expenses

Dependent Care FSA

Use dependent care FSA money to pay for dependent care expenses, including:

Day care at home and licensed centers for children up to age 13
Day care at home and licensed centers for dependents of any age who are mentally and/or physically disabled

Choose your contribution amount during enrollment to be credited to your account each pay period starting Jan. 1.

Once you enroll, you cannot change your contribution amount until the following year, unless you experience a qualifying life event.*
This account is subject to use it or lose it rules, which means that you have until March 15 of the following calendar year to incur eligible expenses, then until April 30 to submit final claims. Dollars remaining in the account after April 30 will be forfeited.

The IRS contribution limits for 2021:

Married or single parent: $100 minimum to $5,000 maximum
Married and filing separately: $100 minimum to $2,500 maximum each

Use your Optum Bank debit card for eligible expenses. Or, file a claim with Optum Bank for reimbursement.

SEE ELIGIBLE EXPENSES

^{*For the dependent care FSA, some examples of possible qualifying life events include:}^{Returning your child to daycare, e}^{nrolling your child in after-school care or other care services that have a cost, and/or a}^{djusted fee schedules from daycare providers.}

Health Savings Account (HSA)

Use your HSA money to pay for eligible medical, dental and vision expenses, or save it for the future.

Choose the amount you want to contribute for the year during enrollment, and it will be deposited to your account in increments each pay period throughout the year (starting Jan. 1 for annual enrollment).
HSAs have no use-it-or-lose-it rules, so any funds you have in the plan will continue to rollover and can be taken with you if you leave.

You can update your HSA contribution anytime throughout the year by submitting a ticket to PeoplePlace. Once submitted, please allow 1-2 pay periods for your request to be processed.

The maximum contribution amounts are listed below:

Employee-only coverage: $3,550 for 2020 and $3,600 for 2021
Employee with dependent coverage: $7,100 for 2020 and $7,200 for 2021
If you’re 55 or older, you can make an additional catch-up contribution of $1,000 each year.

You’ll receive an HSA card from Optum Bank once you enroll.

Update Your HSA Contribution

Note: Login required.

Access Your HSA Account

Helpful Resources

Have a question about your tax-savings account?

Optum Bank is there to help.

Call 800.243.5543

Not sure how much you should save?

Learn how to make the most of your health accounts and estimate how much you should save with helpful tools.

Go Now

Want to manage your accounts on the go?

Download the Optum Bank App for iOS and Android.

Download Now

This site summarizes the programs and benefits available to employees and their eligible dependents. Official plan documents, policies and certificates of insurance that contain the details, conditions, maximum benefit levels and restrictions on benefits govern our benefits program and are available on this site. In case of a conflict between this site and the official documents, the official documents prevail. The information on this site isn't a guarantee of benefits. Baylor Scott & White reserves the right to modify or terminate its employee benefit plans and programs at any time for any reason.

Click here if you have feedback on the website or need to report an issue. All other questions and issues, please contact the corresponding resource on the Need Help page.

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Tax Free Spending and Savings Accounts