Health Care Flexible Spending Account (FSA)*
If you don’t contribute to a Health Savings Account (HSA), you can use a Health Care FSA to pay for qualified medical, prescription drug, dental and vision expenses. You don’t have to be enrolled in an Edward Jones medical plan.
You’ll receive a special Health Care Card that you can use like a debit card to pay for expenses directly from your account, or you can submit claims for reimbursement later.
The 2023 contribution limit is $2,850:
- Expenses must be incurred by December 31, 2023, and submitted for reimbursement by March 31, 2024.
- FSAs are “use it or lose it” — IRS regulations require you to forfeit any money left in your account after the claims submission deadline.
Limited Purpose Flexible Spending Account (LPFSA)*
This account can only be used for qualified vision and dental expenses. You’ll receive a special Health Care Card that you can use like a debit card to pay for expenses directly from your account, or you can submit claims for reimbursement later.
The 2023 contribution limit is $2,850:
- Expenses must be incurred by December 31, 2023, and submitted for reimbursement by March 31, 2024.
- FSAs are “use it or lose it” — IRS regulations require you to forfeit any money left in your account after the claims submission deadline.
Dependent Care Flexible Spending Account (DCFSA)*
This account can be used for eligible care for your child or adult dependent so you and your spouse can work or attend school full-time. When deciding how much to put into your account, think about regular day care, after-school care, and summer camps (does not include over-night camps) for children under age 13.
The 2023 contribution limit is $5,000:
- Expenses must be incurred by December 31, 2023, and submitted for reimbursement by March 31, 2024.
- FSAs are “use it or lose it” — IRS regulations require you forfeit any money left in your account after the claims submission deadline.
Review claim instructions and complete the Dependent Care FSA Claim Form for reimbursement.
Have your dependent care needs changed?
If you are enrolled in the DCFSA, you may be eligible to change your annual election amount if you experienced a qualified life event, such as:
- Change of day care provider
- Change in the cost of day care (i.e. the day care has closed, and you now do not have care expenses)
- Need for care changes due to a job change or change of work hours
To initiate this change, please contact HRHelp@edwardjones.com.
*Tax considerations for service partners, joint venture service partners, and principals: Under IRS regulations, service partners, joint venture service partners, and principals may not participate in the flexible spending accounts. IRS rules prohibit you from claiming reimbursement of an expense from this account and claiming the same expense as a deduction on your tax return.
1 Financial advisor reference incorporates financial advisor, service partner, and joint venture service partner roles.
