Flexible Spending Accounts (FSAs)

Save pre-tax dollars for future eligible expenses.

Flexible spending accounts (FSAs) let you set aside pre-tax money each pay period to help pay for eligible out-of-pocket health care and dependent care expenses. The FSA funds you put aside during the current plan year are available in full immediately.

Through TaxSaver Plan, Lennox offers two FSA options:
  • Health Care FSAs let you set aside money for eligible dental and vision expenses.
  • Dependent Care FSAs help you pay for eligible dependent care expenses so you and your spouse can work – childcare, preschool, after school care, day camps, and eldercare.
As an added benefit, Health Care FSAs also allow you to “pre-fund” your annual deductible and out-of-pocket medical expenses for the following plan year. The full amount you accrue will become available on January 1.

2024 FSA-Eligible Spending & Claims Reimbursement


Please note, you can mail, fax, email or submit your 2024 Health Care FSA and/or Dependent Care FSA expense claims online by logging into your TaxSaver Plan account page. If you have any questions, please contact Customer Service at 1-800-328-4337.

To view FSA-eligible items, visit TaxSaverPlan.com and click on Resources > Frequently Asked Question > Resources > List of Eligible Expenses.

Eligibility

Asset 1@2x

Benefit Features

You must actively elect to participate in the FSAs each year during annual Open Enrollment or within 31 days of a Qualifying Life Event.

The amount you elect is deducted in equal installments from your paycheck before taxes are withheld.
Health Care FSA Dependent Care FSA
How Much Pre-Tax Money You Can Contribute 2024
$250 minimum
$3,050 maximum 		2024
$250 minimum
$5,000 maximum
(or $2,500 if married but filing taxes separately from your spouse)
How To Access
Your FSA Funds 		You will receive a debit card to use for eligible expenses at the doctor’s office or the pharmacy.

Please note: If you use your FSA debit card to pay for a covered health care service that isn’t submitted through one of Lennox’s benefit plans, you will need to provide a copy of the itemized receipt for the debit card transaction to be substantiated and approved. 		You must submit your claims online for reimbursement.

Please note: Keep your receipts and submit them with your claim for reimbursement.
When the Funds Are Available The money you put aside for the plan year is available in full immediately – so you don’t have to wait for it to accrue to begin using your FSA. The money you put aside for the plan year can only be reimbursed for expenses up to the amount you have in your account at the time you submit your claim.
What Eligible Expenses Can The Money Be Used For IRS-eligible medical, prescription drug, dental, and vision expenses like:
  • Doctor On Demand visits
  • Deductibles
  • Coinsurance
  • Medical supplies
  • Over-the-counter drugs
  • Prescription drugs
  • Dental work
  • Contact lenses and prescription eyeglasses
 IRS-eligible dependent day care expenses incurred so you and your spouse can work or go to school like:
  • Nursery schools
  • Licensed day care centers, and adult day care facilities for dependent adults who are mentally or physically incapable of caring for themselves.
  • In-home day care providers
  • Before- and after-school care
    (if not already included in tuition)
  • Summer day camp, but not overnight camp
Who Can Use the Money You can use the money to pay for eligible health care expenses your plan doesn’t cover for:
  • Yourself
  • Any dependents you claim on your federal tax return
  • Your children under age 26, even if they are not covered by a Lennox health plan
 You can use the money to pay for eligible dependent day care expenses for:
  • Children under age 13 you claim on your federal tax return as dependents (or for whom you are the custodial parent if divorced, regardless of who claims the tax exemption)
  • A spouse or dependent who is physically or mentally incapable of self-care and lives in your home for more than half the year
FSA Deadlines
  • You can incur eligible expenses through December 31 of the current plan year.
  • You must submit expenses by March 31 of the following year.
NOTE: Up to $570 of unused funds can be rolled over to the next year.
  • You can incur eligible expenses through December 31 of the current plan year.
  • You must submit expenses by March 31 of the following year.
NOTE: Any unused funds will be forfeited.

Keep in Mind

If you have elected to participate in the Flexible Spending Accounts (FSAs), please be sure to visit TaxSaverPlan.com to register and access:
  • Account balances
  • Online claim submissions
  • Reimbursement status
  • FSA debit card transactions
  • Helpful tax-saving hints and FAQs
  • Tax calculators and tools

Get the App

The TaxSaver Plan mobile app lets you easily manage your FSAs on the go, view account balances, update your direct deposit information, and submit claims.
App Store | Google Play

Additional Information

TaxSaver – 2024 FSA Benefit Summary
TaxSaver – Standard FSA Claim Form
Lennox – FSA Flex Debit Card Information

Video

Learn about Flexible Spending Accounts (FSAs) with TaxSaver Plan.