What you need to know
Depending on which medical plan you enroll in, you can contribute to a Health Care Flexible Spending Account (FSA) or Health Savings Account (HSA) and/or receive a Health Reimbursement Account (HRA). Each type of account helps you pay for eligible medical, dental, vision, prescription drug, and some over-the-counter expenses.
Which medical plan pairs with each type of account?
| Health Savings Account | Meritain Health CDHP with HSA plan |
| Health Care Flexible Spending Account | Meritain Copay Plan, Kaiser HMO, or HMSA medical plan |
| Health Reimbursement Account | Meritain Copay Plan (Grades 15–19 only) |
Who administers it?
| FSA | HealthEquity |
| HSA | HealthEquity |
| HRA | HealthEquity |
What are the 2024 contribution limits?
| Health Savings Account | You can contribute:* PayPal contributes: |
| Health Care Flexible Spending Account | You can contribute up to $3,200 |
| Health Reimbursement Account | PayPal will make a one-time payment of $500 (single coverage) or $1,200 (family coverage). |
* If you’re age 55 or older, you can contribute an additional $1,000 as a catch-up contribution.
What can I use it for?
| FSA | Eligible medical, dental, vision, prescription drug, and some over-the-counter expenses for you and your covered dependents throughout the year. If you enroll in the CDHP, it can only be used for eligible dental and vision expenses until you reach your medical deductible. Once you reach your deductible, you can contact HealthEquity and submit eligible medical and pharmacy claims in addition to any dental and vision claims. |
| HSA | Eligible medical, dental, vision, prescription drug, and some over-the-counter expenses for you and your covered dependents throughout the year. Can also be used to pay for COBRA, retiree medical, and long-term care premiums. |
| HRA | Eligible medical, dental, vision, prescription drug, and some over-the-counter expenses for you and your covered dependents throughout the year. |
Do I pay taxes on my contributions?
| FSA | No, all contributions are tax-free. |
| HSA | No, all contributions, including those from PayPal, are tax-free. |
| HRA | N/A; only PayPal can fund this account. |
Do funds roll over from year to year?
| Health Savings Account | Yes. Your account balance rolls over from year to year. |
| Health Care Flexible Spending Account | No. This is a use-it-or-lose-it account. You can carry over up to $610 into 2024. |
| Health Reimbursement Account | No. You must use your 2024 funds for eligible expenses by December 31, 2024. |
What is the deadline to file claims for 2023 expenses?
| Health Savings Account | N/A |
| Health Care Flexible Spending Account | Claims for eligible expenses incurred in 2023 must be filed by April 30, 2024. |
| Health Reimbursement Account | Claims for eligible expenses incurred in 2023 must be filed by April 30, 2024. |
Things to know
- For those enrolled in the Meritain Copay Plan (Grades 15–19): Since you’re eligible for the HRA, you can only have a Limited Purpose FSA and can only use your FSA to pay for eligible dental and vision expenses, until you reach your medical deductible for the year. If you have reached your medical deductible, you can contact HealthEquity (@Work) | (Log In) and submit the required documentation to allow you to be reimbursed for eligible medical claims, as well as eligible dental and vision claims.
- For those enrolled in the CDHP: Since you’re eligible for the HSA, you can only have a Limited Purpose FSA and can only use your FSA to pay for eligible dental and vision expenses.
Need more information?
Learn more about the Health Care Flexible Spending Account (FSA), Health Savings Account (HSA), and Health Reimbursement Account (HRA) to see which one is best for you.