PriorityFSA Limited for HSA owners
PriorityFSASM Limited, a limited health flexible spending arrangement (FSA), is a pretax, money-saving option that can be used with a health savings account (HSA).
People with an HSA are not eligible for a traditional health FSA.
PriorityFSA Limited features & advantages
- Allows employees to set aside even more tax-free dollars to pay for health care expenses
- Money is immediately available for reimbursement of covered expenses.
- We take care of all administrative duties.
- Covered expenses are limited to:
- Dental: cleanings, fillings, crowns, orthodontics
- Vision: contact lenses, eyeglasses, refractions, vision correction procedures
- Coinsurances, copays, and other medical expenses incurred after the HDHP deductible is met
- You set the contribution limits.
- Funds must be used in the plan year. They are "use-it or lose-it" funds.
Is a limited FSA right for you?
- Available only for employees contributing to an HSA.
- If you already have a traditional FSA in place and are looking to transfer to an HSA and limited FSA combination in the middle of a plan year, you will have to make some changes. Learn more about your options.
PriorityFSA Limited plan administration
Basically here's how the limited FSA works:
- First it reimburses employees for dental, vision and preventive care services until the deductible has been satisfied.
- When the deductible is met, the limited FSA turns into a traditional FSA, so the employee can use FSA funds to reimburse any qualified expense.
Reimbursement
Employees must fill out a PriorityFSA Limited withdrawal request form when they want to be reimbursed for qualified expenses. Automatic reimbursement is not available with a limited FSA.
Download the PriorityFSA Limited withdrawal request form (157KB PDF).
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