Calculate Your Flexible Spending Account Savings

A General Purpose FSA (Flexible Savings Account) is a pre-tax health account that can be used to pay for eligible healthcare expenses. It is also referred to as an FSA, Healthcare FSA, or Medical FSA.

A Dependent Care FSA (DCFSA) is a pre-tax benefit account used to save and pay for child or dependent care services such as day care, nannies, babysitting, or adult day care. It helps individuals pay for services that allow them to work when they would otherwise need to be at home fulfilling caretaking duties. Learn more about DCFSAs.

An HSA is a tax-advantaged savings account that can only be used with a qualifying high-deductible health plan (HDHP).

The recommended annual FSA contribution amount based on your expected eligible out-of-pocket expenses for all applicable medical, vision, or dental expenses.

The recommended annual dependent care FSA contribution amount based on your expected eligible out-of-pocket expenses for all dependent care expenses.

The limit for FSA or DCFSA contributions is set by the federal government. Please note that your employer is able to set a custom limit and this amount could be lower than the federal limit. This calculator shows data for 2023, hang tight while we work on 2024 updates! To learn about the 2024 contribution limits, check out Lively’s FSA Guide.

The amount you could save in federal and state (if applicable) income taxes for the year by contributing the recommended FSA or DCFSA contribution amount. We use your annual income, state, and filing status to calculate your projected tax savings.

A Flexible Spending Account (FSA) is a tax-advantaged benefit that allows employees to set aside pre-tax money to pay for qualified medical expenses. They are used to deposit and save pre-tax money to pay for qualified medical, dental, or vision expenses.

This depends on your employer. If any funds remain in your General Purpose FSA at the end of the current plan year, your employer may either allow you to rollover up to $610 (for 2023) of your FSA savings to the following plan year or give you a 2 ½ month grace period following the end of the plan year during which you can use any remaining funds. A Dependent Care FSA plan allows for a reasonable time for you to submit claims after the plan year-end, but all dependent care expenses must be incurred by plan year-end. Learn more about FSA rollovers.

With an FSA, you can use pre-tax money to pay for qualified healthcare expenses that are not covered by insurance. The tax savings gives you more buying power and helps you be prepared to pay for out-of-pocket expenses.

You can use a General Purpose FSA for qualified medical, dental, and vision expenses. You can use a Dependent Care FSA for qualified care expenses, like child or adult daycare. Limited Purpose FSAs are only used for qualified dental and vision expenses. View a searchable list of all eligible expenses for each plan type.

A Dependent Care FSA (DCFSA) is a pre-tax benefit account used to pay for childcare, custodial care, and elderly care services. It helps individuals pay for services so they can work when they would otherwise need to be at home fulfilling caretaking duties. Learn more about DCFSAs.

A Limited Purpose FSA (LPFSA) is a tax-advantaged benefit that allows employees to set aside pre-tax money for qualified dental and vision expenses. You can LPFSA and an HSA at the same time. Learn more about LPFSAs.