Flexible Spending Accounts

Flexible Spending Accounts (FSAs) help you save money on health care and dependent care expenses by paying for eligible expenses with tax-free dollars. You must re-enroll in the accounts every year.
There are three types of Flexible Spending Accounts (not to be confused with Health Savings Accounts):  
  1. Health Care FSA
  2. Dependent Care FSA
  3. Limited Purpose FSA
 Here’s how you save:
  • The amount you contribute to either or both FSAs is deducted from your paycheck before federal, state, local, and Social Security taxes are withheld
  • When you have an eligible expense, you can pay for it with your FSA Debit Card (Health Care FSA) or you are reimbursed up to what you have contributed thus far in the year (Dependent Care FSA)from your account(s) and the money isn’t taxed

Important!

Estimate your expenses and make your contribution elections wisely. The balances in your Health Care and Dependent Care accounts are “use it or lose it.” However, you will be able to carry over a maximum of $640 from your Health Care FSA to pay for eligible expenses in the following plan year. For example, if you have $840 remaining in your Health Care FSA at the end of 2024, you may carry over a maximum of $640 to the 2025 plan year and still elect to contribute up to the annual Health Care FSA maximum for 2025.  Since the carry over maximum is limited to $640, the $200 above the carry over limit ($840-$640 = $200) would be forfeited, as required by the IRS.

Deadline to Submit Claims for Reimbursement

For Health Care and Dependent Care, you have 60 days into the next year (until February 29th or March 1st) to submit your claims from the prior year (services incurred from January 1, 2024 to December 31, 2024). However, if you have a Health Care or Dependent Care claim that has been denied, you have an additional 21 days (up to March 21 or 22), to re-submit the claim for processing.

Note: If you are eligible for a carry over, but you enroll in a High Deductible Health Plan and Health Savings Account in the following plan year, the roll over funds will be deposited into a "limited purpose" health FSA that only covers dental and vision expenses.



Health Care FSA

You can use the Health Care Flexible Spending Account to pay for out-of-pocket health care expenses including copays, coinsurance, and deductibles. You will be able to contribute up to $3,200 in 2025 to the Health Care FSA. 

Eligible expenses are expenses not paid for by your medical, prescription, vision, or dental insurance plans, including:

  • Deductibles, copays and coinsurance
  • Dental and orthodontia expenses
  • Prescription glasses, contact lenses and lens cleaning solution
  • Laser vision correction
  • Prescription drugs and drug copayments
  • Some over-the-counter medications, such as aspirin for pain or allergy medication if you have a prescription from your doctor

Eligible expenses do not include cosmetic procedures, treatments not supervised by a qualified health care professional, premiums for health care plans, or other expenses that are not medically necessary. For a full listing of eligible and ineligible charges, visit the Benefit Resource, Inc. (BRI) website at www.benefitresource.com.

Please note: If you are enrolled in a Health Savings Account (HSA), you can only have a “limited purpose” health FSA that only covers dental and vision expenses.


Dependent Care FSA

You may use the Dependent Care Flexible Spending Account to pay for the day care of your dependent children under the age of 14, and dependents of any age who are incapable of self-care, live with you at least eight hours per day, and are claimed as dependents on your income tax return. You can contribute up to $5,000 each year. However, if your spouse has access to a Dependent Care FSA, your total combined contribution may not exceed $5,000. If you are married and file separate tax returns, each spouse may contribute $2,500.

To be eligible, care must be provided while you (and your spouse, if you are married) work, look for work, or attend school full time. Eligible expenses include care in your home by an eligible provider or at a licensed facility. You will not be reimbursed for residential or “sleep-away” care, nursing home care, or for babysitting when you are not at work.


More details and eligible expenses

For more information on eligible expenses for the Health Care or Dependent Care FSA, refer to IRS guidelines available online at www.irs.gov or visit the BRI website at www.benefitresource.com.


Employee Instructions: How to Pay for Eligible Expenses:

Health Care Expenses

You’ll pay for your eligible out-of-pocket health care expenses using your personal Beniversal® Prepaid MasterCard®, cash or check. If you pay with cash or personal check, you will need to submit a claim form for reimbursement from your Health Care Spending Account.

Dependent Care Expenses

You’ll pay for your eligible out-of-pocket dependent care expenses using your personal credit card, cash or check. Then, submit a claim for reimbursement from your Dependent Care Spending Account.

Limited Purpose Health Expenses

Employees can use their Beniversal® Prepaid MasterCard® for Limited Purpose FSA expenses.  The card will deduct dental and vision expenses from the Limited FSA plan (and not lower the HSA balance, if enrolled) as long as there are funds available.


Commuter Benefit Plan

For our Chicago employees, EVRAZ offers a commuter benefit program through Benefit Resource, Inc. (BRI), which allows you to deduct pre-tax money from your paycheck to pay for eligible parking and transit expenses. The money comes out of your income before you pay taxes, so you save more money. You can enroll or make changes anytime throughout the year by logging into Workday. For more information, contact BRI at 800.473.9595 Monday - Friday, 8am - 8pm EST.