A healthcare flexible spending account (FSA) allows you to set money aside from your paycheck before the government takes taxes out. This money is for covering eligible medical, dental, and vision expenses for you and your eligible dependents.
The amount you choose to set aside for your FSA, up to the IRS (Internal Revenue Service) limit, is divided by the number of pay periods you have left in the year. This exact amount comes from each paycheck. The money is available to spend before it has been taken from your paycheck. You’ll request a reimbursement after you spend the money on the eligible medical, dental, or vision expense.
For 2025, you can contribute between $130 and $3,200 to an FSA.
Your benefits
New York Life’s FSA for Dependent Care is now administered by HealthEquity, though you can still submit FSA claims to Inspira (formerly known as PayFlex) for reimbursement through March 31, 2025.
Register and access your FSA online at HealthEquity.com/wageworks.
You can also download the EZ Receipts® app from the App Store or Google Play to file and manage your reimbursement claims and card usage paperwork on-the-go.
And if you have any questions during the transition period, call 877-924-3967 for 24/7 assistance.
