Flexible Spending Account FAQs

A Flexible Spending Account (FSA) is a special account you put money into that you use to pay for eligible out-of-pocket health care or dependent\daycare costs. You don’t pay taxes on this money. This means you’ll save an amount equal to the taxes you would have paid on the money you set aside.

No, NAU does not contribute or match your FSA contributions.

You can review a list on eligible expenses on the ASIFLEX website.

No, you are not able to change your contribution throughout the year unless you have a Qualified Life Event such as the birth of a child or marriage.

If you are contributing to an HSA you can only enroll in a Limited Purchase Health Care FSA. Funds can only be used for eligible dental and vision benefits.

1. For 2023 you can contribute up to $3,050.

The funds are available to use after your first contribution. You will make contributions over the course of the year, but funds are available right away.

You must request a debit card from the FSA administrator ASIFlex directly. Visit the ASIFlex website for more information.

You can use your account through the ASI portal www.asiflex.com to submit a claim with your itemized receipts.

The IRS has a strict ‘Use-It or Lose-It” rule for FSAs.

• The Health Care FSA allows you to rollover up to the IRS maximum, $610 for 2023.
• Unused funds over the rollover maximum will be forfeited.
• You have until April 30th to submit claims incurred in the previous plan year.

For 2023 you can contribute up to $5,000 per family for the Dependent\Day Care FSA

The IRS has a strict ‘Use-It or Lose-It” rule for FSAs, but the Dependent\Daycare FSA does have a grace premium.

• You can submit claims incurred up to March 15th following the end of the plan year.
• You have until April 30^th to submit claims incurred in the previous plan year.

Yes, expenses for children under the age of 13.  Also, older dependents who are incapable of self-care are covered under the Dependent\Day Care FSA are covered.  Contact ASI if you