Flexible Spending Accounts (FSAs)

The FSAs can help reduce your taxable income and increase your take-home pay, giving you extra money for the things you really want.

• The amount you elect each year is deducted from your paycheck before taxes are withheld. Because you are not paying federal income or social security taxes on the money placed in these FSAs, your taxes are reduced.
• The first time you elect an FSA, you will be provided with a debit card to access funds.
• Use the Inspira Card or the online feature for easy payment to your provider.
• Each FSA functions separately. You cannot transfer money from one account to the other. Money in the Health Care FSA cannot be used for daycare expenses and similarly, the Dependent Care FSA cannot be used for prescriptions.
• If you don’t use all the money that you contribute to your FSA(s) during the Plan Year or the grace period, it will be forfeited.

Health Care FSA
The Health Care FSA allows you to contribute up to $3,200 on a pre-tax basis for the 2024/2025 plan year for health care costs for yourself and covered dependents. Eligible expenses include:

• Medical expenses – deductibles, coinsurance
• Dental expenses – out-of-pocket dental expenses, braces
• Vision expenses – glasses, contact lenses
• Prescriptions and over-the-counter medications
• Hearing aids
• Allergy medications, first aid kits, menstrual products
• And more

For a complete list of qualified health care expenses, click here.

How the HRA and Health Care FSA Work Together
If you are enrolled in the Vail Resorts Medical Plan, eligible medical expenses will be paid through your Health Reimbursement Account (HRA) first. Once you have used the funds in your HRA, you may then submit for reimbursement of eligible expenses through the Health Care FSA to pay for the remaining portion of your deductible and coinsurance.

Things to Consider with the Health Care FSA

• You have immediate access to the total amount you elect to contribute for the Plan Year.
• All money in your FSA must be used for services rendered during the Plan Year (August 1 – July 31) or the 2½-month grace period (August 1 – October 15).
• Reimbursement requests for eligible expenses must be made by October 31.

Dependent Care FSA
The Dependent Care FSA allows you to contribute up to $5,000 on a pre-tax basis for the 2024/2025 plan year to help cover the cost of care for your eligible dependents up to the age of 13. Eligible expenses include those which allow you and your spouse to work, attend school or look for employment:

• Preschool
• Before- and after-school care
• Licensed day care providers
• Summer day camps
• Adult day care facilities

For a complete list of qualified dependent care expenses, click here.

Things to Consider with the Dependent Care FSA

• At the time of your reimbursement request, you only have access to the funds that are in your account.
• All money in your FSA must be used for services rendered during the Plan Year (August 1 – July 31) or the 2½-month grace period (August 1 – October 15).
• Reimbursement requests for eligible expenses must be made by October 31.