Health Care and Dependent Care Flexible Spending Accounts (FSAs)

The IRS has provided guidance to allow extra time for you to submit 2019 reimbursements and the flexibility to increase, decrease or stop 2020 deductions. See New for 2020 for details.

Health Care Flexible Spending Accounts (FSAs)

Health Care FSAs are another way to reduce your taxable income. REI offers two Health Care FSAs to reimburse the current year’s health care expenses: a Health Care FSA if you don’t also have an HSA; and a Limited-Use Health Care FSA if you do have an HSA.

  • When enrolling, you can set an amount to be deducted each pay period pre-tax. The total amount you contribute to your Health Care FSA each year is available on the first day of the plan year.
  • Funds can only be used for eligible health care expenses incurred within the benefit plan year (January–December), but you have until March of the following year to submit claims to WageWorks®.
  • You can roll over up to $500 from your current plan year Health Care FSA or Limited-Use Health Care FSA into the next year, and still contribute up to the annual maximum for the following plan year.

Available To

Eligible part-time and full-time employees who are not enrolled in the REI Saver Medical Plan.

What It’s For

To reimburse certain health care costs for you, your spouse and your children.*

Maximum Annual Contribution

$2,700 for the plan year.

Examples of Eligible Expenses

Deductibles, coinsurance and copays for qualified health care expenses and prescription medications. See the full list of eligible expenses.

Funds Rollover

Yes, up to $500.

Account Fee

None.

Available To

Eligible part-time and full-time employees who are enrolled in the REI Saver Medical Plan.

What It’s For

To reimburse vision and dental costs for you, your spouse and your children.*

Maximum Annual Contribution

$2,700 for the plan year.

Examples of Eligible Expenses

Dental and vision deductibles, coinsurance, copays, prescription eyeglasses and contact lenses. See the full list of eligible expenses.

Funds Rollover

Yes, up to $500.

Account Fee

None.

*Under the FSA, you can be reimbursed for eligible health care expenses for dependent children who are under the age of 26. To learn more about eligible reimbursements through your FSA for your life partner or child of your life partner, see the REI Benefits Plan Summary Plan Description.

Dependent Care Flexible Spending Account (DCFSA)

A DCFSA can be used to pay for dependent care expenses while you are at work, such as preschool, summer day camp, before- or after-school programs, and child or elder day care. Dependent Care Flexible Spending accounts CANNOT be used for reimbursement of dependent health care costs.

When enrolling, you can set aside an amount to be deducted per paycheck. Your contributions will be deducted on a pre-tax basis.

Unlike a Health Care FSA, the funds you contribute become available for use after each payroll deduction.

Available To

Eligible full-time employees.

What It’s For

To reimburse your costs for the care of your children under age 13 and older disabled dependents. (If your spouse is unemployed, you can’t participate unless he/she is a full-time student, disabled or actively looking for work.)*

Maximum Annual Contribution

  • $5,000 (if you’re married filing jointly).
  • $2,500 (if you’re single or married filing separately for the plan and calendar year).

Examples of Eligible Expenses

Day care, babysitting and adult day care. See the full list of eligible expenses for the DCFSA.

Funds Rollover

No, funds do not roll over.

Account Fee

None.

*Under the FSA, you can be reimbursed for eligible health care expenses for dependent children who are under the age of 26. To learn more about eligible reimbursements through your FSA for your life partner or child of your life partner, see the REI Benefits Plan Summary Plan Description.

Watch and Learn about the HSA and FSAs