Flexible Spending Accounts (FSA)

NXP offers 3 different flexible spending account options: Health Care FSA, Limited Purpose FSA and Dependent Care FSA.

Health Care Flexible Spending Account (HCFSA)

The Health Care FSA is available if enrolled in Medical Plan 2 or 3. Participating in a Health Care FSA helps you maximize the amount you can save pre-tax for medical, dental and vision expenses.

  • If enrolled, you can contribute up to $3,400 pre-tax to use towards eligible expenses
  • You can change your Health Care FSA election amount during annual enrollment or within 30 days of a qualifying life event
  • Any money contributed must be used for expenses incurred in the same calendar year in accordance with IRS guidelines
  • You will receive a Fidelity AccessCard (debit) in the mail from Fidelity to pay for eligible medical, pharmacy, dental and vision expenses
  • For your convenience, you can also choose to turn on the auto-reimbursement feature for medical expenses only to have eligible medical expenses auto submitted for payment from your Health Care FSA
  • Visit IRS  Publication 502, Health Care Expenses for a complete list of covered expenses
  • You can view your account balance from Fidelity NetBenefits  or the Fidelity app

Limited Purpose Flexible Spending Account (LPFSA)

The Limited Purpose FSA is available if enrolled in Medical Plan 1. Participating in a Limited Purpose FSA helps you maximize the amount you can save for dental and vision expenses.

  • If enrolled, you can contribute up to $3,400 pre-tax to use towards eligible dental and vision expenses. There are limits on the expenses you may submit to your Limited Purpose FSA. Consider enrolling if:
    • You’re expecting to incur significant dental and/or vision expenses
    • You don’t want to use your Health Savings Account (HSA) dollars for dental and vision care expenses

Learn more about how the Limited Purpose FSA and Health Savings Account work together to bring you optimal tax savings benefits here .

Dependent Care Flexible Spending Account (DCFSA)

You can enroll in a Dependent Care FSA with Medical Plans 1, 2, or 3 to use pre-tax dollars for eligible expenses related to the care of a child, disabled spouse, elderly parent, or other dependent who cannot care for themselves.

  • If enrolled, you can contribute up to $7,500 pre-tax to use towards qualified dependent care expenses. Employees earning over $200,000 annually can contribute up to $3,200.
  • You can change your Dependent Care FSA election amount during annual enrollment or within 30 days of a qualifying life event.

Eligible Dependent Care FSA expenses include:

  • A qualified child or elder care center
  • A babysitter or nanny
  • After-school care Registration fees
  • Nursery school tuition
  • A relative who provides care
  • Visit IRS  Publication 503 for a complete list of eligible covered dependent care expenses

Comparison of the different types of FSAs

Click here  to see a comparison or see the chart below.

Plan Covered Expenses Maximum Contribution How claims are paid
Health Care Flexible spending Account (HCFSA) Medical, pharmacy, dental and vision care expenses not reimbursed by another Plan $3,400* Full annual contribution is available on your first day of participation
Limited Purpose Flexible Spending Account (LPFSA) Dental and vision care expenses not reimbursed by another Plan $3,400* Full annual contribution is available on your first day of participation
Dependent Care Flexible Spending Account (DCFSA) Employment-related dependent care expenses not claims for the federal dependent care income tax credit $7,500 per calendar year** Only amounts already contributed are available

* If you enroll in Medical Plan 1 and would like to contribute to a Health Care FSA for vision and dental care expenses, you must enroll in the Limited Purpose HCFSA

** Employees earning over $200,000 annually can contribute up to $3,200

FSA Expense Verification

If the expense cannot be auto validated by Fidelity, you will need to provide an Explanation of Benefits (EOB) or itemized receipt that contains the following:

  • Name of the person who incurred the expense
  • Name and address of the provider
  • Date of service for the amount charged
  • Detailed description of the service
  • Amount due for the service

Within 7 to 30 days after you incur an expense, your insurance provider will issue an Explanation of Benefits (EOB), which you can access online at myuhc.com, vsp.com, deltadental.com, or receive by mail. Upload your EOB to Fidelity NetBenefits  to verify your expense or to support a claim if you paid out of pocket. If Fidelity requests documentation and you do not provide it, your Fidelity AccessCard will be locked 90 days after the expense was incurred and will remain locked until you submit an itemized receipt or EOB.