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Financial - Flexible Spending Account

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SAVE MONEY ON TAXES

Enroll in a Flexible Spending Account (FSA) to set aside money from your paycheck on a pre-tax basis to help you save money on taxes.

  Health Care FSA Limited Health Care FSA Day Care FSA
2022 IRS limit $2,850 $2,850  $5,000 ($2,500 if married filing separately) 
2023 IRS limits $3,050 $3,050 $5,000 ($2,500 if married filing separately) 
Eligible expenses Medical, dental, and vision expenses - full list Dental and vision expenses only - full list  Childcare and adult care expenses - full list 
Who can use it? You, a spouse/domestic partner, eligible children You, a spouse/domestic partner, eligible children  You can use funds to pay for an eligible dependent's expenses 
Which medical plan do I have to be enrolled in? Anthem Exclusive, Anthem Preferred, Kaiser, Tufts, Opt-Out** Anthem HDHP   N/A - not associated with medical plan
When can I incur expenses? January 1 - December 31 January 1 - December 31   January 1 - December 31
Is there a rollover or grace period? No No No
More information FAQs FAQs FAQs

*If the IRS increases FSA limits for 2022 then employees will be notified of the new limits and given the opportunity to adjust contributions
**Employees who opt-out of Marvell’s insurance may enroll in a Health Care FSA only if they are not enrolled in an HDHP/HSA outside of Marvell

What's the difference between an FSA and an HSA? [LINK]

LEARN MORE ABOUT FSA PLANS