Page 14 - 2022 Infoblox Benefits Guide

Spending Income Optional
Spending
Accounts
Contents Eligibility Medical Contributions Dental Vision A c c oun ts Protection Benefits Contacts

What’s the Difference?

FSA vs. HSA

Health Care FSA HSA
Stands for Flexible Spending Account Health Savings Account
Members enrolled in a High Deductible Health
Plan (HDHP) who do not have any other
Who is eligible? Employees in the PPO or HMO plans
non-HDHP health plan, such as Medicare or a
spouse’s plan.
Single coverage – $3,650
Contribution limits Health Care FSA – $2,850
Family coverage – $7,300
Who owns the
account? Infoblox You
Contributions subject
to income tax? No No
Does interest accrue? No Yes
Money is deducted (pretax) from your paycheck Money is deducted (pretax) from your paycheck
Contributions every pay period. Additional contributions are every pay period. Additional contributions up to
NOT allowed. the maximum contribution amount ARE allowed.
In most cases, the entire annual contribution
Disbursement of
funds amount is available from the beginning of Only funds paid in by you are available.
the year.
Catch-up contribution Yes. Members age 55+ may contribute up to
for age 55+ No $1,000 more to their account per year.
This account is portable. HSA balance is not
Portability and You lose any unspent money when employment
forfeiture is terminated. forfeited when you change employers or
health plans.
Unused money in an FSA expires and is lost at
Expiration Your funds never expire.
the end of the year.
Balance carry over Yes. Unused funds are carried over to the
(or rollover) No, you must use it or lose it. following year.
Only for Qualifying Life Events, such as a
Can I change my marriage, divorce, birth, or during Open Yes, on a pay period basis.
contribution?
Enrollment.
Eligible expenses such as medical copays,
Eligible medical coinsurance, deductibles, eyeglasses, Medical, dental, vision and prescription drug
expenses over-the-counter medications prescribed by expenses incurred by you and your eligible
your doctor. family members.
No. However, you should be prepared to
Proof of expenses Yes substantiate to the IRS that the expense has
required? been incurred, the amount of the expense, and
its eligibility.

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