Administered by ASI Flex, a Health Care Flexible Spending Account (HCFSA) allows you to set aside pretax dollars to pay for qualifying medical, dental and vision expenses for you and your dependents.

IRS contribution limit: 

  • $2,650 per employee for the  2018-2019 plan year
  • $2,700 per employee for the 2019-2020 plan year

Deadlines: 

  • 2018-2019 plan year:  You must incur qualifying expenses between July 1, 2018 and Sept. 15, 2019 and claim the money by Nov. 15, 2019. 
  • 2019-2020 plan year:  You must incur qualifying expenses between July 1, 2019 and Sept. 15, 2020 and claim the money by Nov. 15, 2020.
  • If you do not use all of your funds within the FSA, by the above deadlines, the remaining amount will be forfeited. 

Limitations: You cannot participate in both an HCFSA and a Health Savings Account (HSA) at the same time. 


What is a Cafeteria Plan?

A cafeteria plan is a tax-savings benefits program designed to take advantage of Section 125 of the Internal Revenue Code. It allows you to pay certain qualified expenses on a pre-tax basis, reducing your taxable income. This includes CU's Premium-Only Plan and two Flexible Spending Accounts.