Flexible Spending Accounts (FSAs) are pretax benefit accounts designed to cover qualified medical and dependent care expenses. Thermo Fisher offers eligible colleagues the following types of FSAs:
Healthcare FSA (HCFSA):
A Healthcare FSA allows you to pay for qualified medical, prescription, dental and vision expenses not covered by your health plan. Colleagues in the UHC PPO, Kaiser, UPMC, Quartz or HMSA medical plans, and those who waive medical coverage or those enrolled in a high deductible health plan (HDHP) but not eligible for an HSA are eligible for the HCFSA.
Limited Purpose FSA (LPFSA):
A Limited Purpose FSA is a healthcare spending account that can only be used for qualified dental and vision expenses. An LPFSA works in conjunction with an HSA-eligible health plan and a Health Savings Account (HSA).
Dependent Care FSA (DCFSA):
A Dependent Care FSA is used to pay for qualified dependent care and adult care expenses, such as daycare, preschool, summer day camp, before or after school programs, and care for a parent while you work.
Important FSA Information:
- Review important key dates regarding the transition of flexible spending accounts to Fidelity.
- Make your 2025 Healthcare FSA, Limited Purpose FSA and Dependent Care FSA elections during Open Enrollment on MyBenefits, October 14 ‒ October 25, 2024.
- If you are a highly compensated employee (HCE), you may be limited in the amount you can contribute to the DCFSA.
- No action is required on your part to transition your HCFSA or LPFSA carryover funds to Fidelity.
- Refer to the information in the boxes below for more details about your flexible spending accounts at Fidelity.
