Using the FSA with the HSA Plans

A Section 125 plan like the CSI Flexible Benefits Plan can be used to pay for premiums and dependent care expenses on a pre-tax basis for all of CSI’s health plans, including the High Deductible Health Plan used with a Health Savings Account (HSA).
The Health FSA may be used for expenses not reimbursed through another plan. For the High Deductible Health Plan with the HSA component, however, reimbursement is limited to dental and vision expenses. There is a significant issue for participants in the High Deductible Health Plan with an HSA: even if the expense applies to the deductible, unless it is a dental or vision expense, is not eligible for reimbursement from the Health FSA.The CSI Flexible Benefits Plan may also be used for pre-tax employee contributions to the Health Savings Account associated with a High Deductible Health Plan. Even if your school is contributing funds to your HSA, you are permitted to contribute additional amounts using one of these two methods: you may contribute on a pre-tax basis through the CSI Flexible Benefits Plan, or contribute post-tax and claim the credit on your federal income tax return.

Full Issue: No. 55 - May 2008

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