Limited Purpose Flexible Spending Account (LP-FSA)
An LP-FSA helps you save on qualified vision, dental and preventive care expenses.
What you need to know about an LP-FSA
Spend less on taxes and save more on vision, dental and preventive care expenses. With an LP-FSA, you’ll preserve HSA funds to use for other expenses.
- A benefit is only available if you open an HSA and are eligible to contribute.
- Helps pay the cost of dental, vision and preventive care so you can preserve HSA funds for other expenses or save and invest for the future.
- Pre-tax dollars will be deducted from your paycheck and deposited into your LP-FSA, up to $3,200 for 2024.1 You can use those funds to pay for qualified expenses.2
- Funds not used to cover qualified expenses by DATE will be forfeited. Funds in excess of $640 not used to cover qualified expenses by the end of the calendar year will be forfeited. However, your employer allows you to roll over up to $640.
Expenses covered
Use your tax-advantaged LP-FSA to pay for qualified dental, vision and preventive care for you, your family and any eligible dependents, such as:
- Dental and eye exams.
- Prescription glasses.
- Contact lenses.
- LASIK surgery.
- Dental X-rays.
- Fillings and cleanings.
- Orthodontia.
Valuable features make it easy
- Simple enrollment and account setup
- Single, smart, multi-purpose debit card that knows which of your accounts to tap into
- 24/7 account access through an online portal and mobile app
- Tailored educational resources, decision support tools and one-click answers to your benefits questions
- Full-year amount of elected contributions available on day one (whether or not you have made any contributions)
- The ability to facilitate the claims experience for HSAs and Limited Purpose FSAs when combined with MetLife Vision and/or Dental
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Enjoy pre-tax savings on qualified expenses
You can enroll in an LP-FSA during open enrollment or upon the occurrence of a qualifying event.
Limited Purpose Flexible Spending Account FAQs
Pre-tax dollars are funds from your paycheck that are credited to your LP-FSA before taxes are deducted. Since you’re not paying taxes on money you contribute, you end up with more money to use for qualified expenses.
Contributions are automatically transferred from your paycheck and credited to your LP-FSA. These funds can then be used for qualified dental, vision and preventive care expenses.
The contribution maximum for 2024 is $3,200.1 Your contribution should be determined by how much you anticipate in covered expenses for the year and how much you can afford to have deducted from your paycheck.
You can use LP-FSA funds for a range of qualified vision, dental and preventive care expenses. These include dental and eye exams, prescription glasses, contact lenses, LASIK surgery, dental X-rays, fillings and cleanings, orthodontia, diagnostic services, prescription, over-the-counter medications, drugs for dental and vision and more.
There are three ways to pay for expenses: use a smart debit card connected to your account, pay providers directly through the LP-FSA online portal or submit receipts for reimbursement.
You’ll have 24/7/365 online access to account information through the online portal and mobile app. You’ll be able to view details on your contributions, balance and spending. You can download the MetLife HS&SA app for your device from the Apple app store or Google Play and log in using the password you use to access the online portal.
Funds not used to cover qualified expenses by DATE will be forfeited. Funds in excess of $640 not used to cover qualified expenses by the end of the calendar year will be forfeited. However, your employer allows you to roll over up to $640.
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1 Contribution limits are subject to change and should be checked on an annual basis on the IRS website. Limitations apply.
2 See IRS publication 502, available at http://www.irs.gov/pub/irs-pdf/p502.pdf, for information about eligible dependents and a list of qualified expenses. In addition, there may be legislation or additional publications that may modify or expand available qualified expenses. Please refer to your employer’s plan document for the latest list of qualified expenses under your plan.
Like most group benefit programs, benefit programs offered by MetLife and its affiliates contain certain exclusions, exceptions, waiting periods, reductions of benefits, limitations and terms for keeping them in force. Nothing in these materials is intended to be, nor should be construed as, advice or a recommendation for a particular situation or individual. Participants should consult with their own advisors for such advice. Federal and state laws and regulations are subject to change.