Flexible Spending Accounts

FSA Enrollment Form

Includes Health Care Spending Account and Dependent Care Spending Account that allow you to put aside pretax dollars to spend on eligible medical and child care expenses.

Health Care Flexible Spending Account works with the Sparrow Health MNA PPO and BCBS health plans.

Flexible Spending Account elections must be made annually at open enrollment.

Health Care Spending Account can be used for medical deductibles, copays, eyeglasses/contacts, and dental expenses. You can elect to contribute up to $3,050 in 2024.

Dependent Care Spending Account can be used for dependent care expenses that enable you and your spouse to work. You can elect to contribute up to $5,000 in 2024.

IRS rules require that money left unused in the Healthcare Spending Account is forfeited on March 15 following the plan year and Dependent Care Spending Account is forfeited on December 31 of the plan year.

If you have a healthcare FSA in 2023 and are electing the Sparrow Health HSA plan for 2024, per the IRS you MUST use all of your 2023 healthcare FSA funds by 12/31/23 in order to open your HSA account January 1. Otherwise, the HSA account cannot be established until April 2024, which includes receipt of the employer contribution. Additionally, if your account is not established until April due to remaining 2023 FSA funds, any expenses incurred from January to March 2024 may not be paid for by funds from the HSA account.

2024 IRS HSA maximum contribution limits increased to: $4,150 (single) and $8,300 (family); Contribution limits include any employer contributions.

The Sparrow health plans, administered by PHP, no longer require a Prior Authorization (PA) for Physical or Occupational Therapy. Caregivers are now able to access Physical and Occupational therapy services with either a prescription or referral.