2027 FSA & HSA
Flexible Spending Accounts (FSA) & Health Savings Accounts (HSA)
Beacon Mobility offers both Flexible Spending Accounts (FSAs) and an Health Savings Account (HSA) to help you save you save money on eligible healthcare expenses through tax-advantaged accounts.
While both accounts allow you to use pre-tax dollars for qualified expenses (medical, dental and vision) for you and your dependents, they work different and offer unique advantages.
Flexible Spending Accounts (FSA)
Beacon offers FSAs through WEX. An FSA allows you to set aside money from your paycheck on a pre-tax basis to pay for eligible healthcare and dependent care expenses.
Healthcare FSA
Use pre-tax dollars for eligible healthcare expenses such as doctor visits, prescriptions, dental care, eyeglasses, and contacts.
Funds available: Your full annual election is available at the beginning of the plan year.
Dependent Care FSA
Set aside pre-tax dollars to help pay for eligible dependent care expenses such as daycare, preschool, before- and after-school care, summer day camps, and eligible elder care.
Funds available: As contributions are made to your account.
IMPORTANT: FSAs are use-it-or-lose it.
If you don’t spend the funds you set aside from payroll deductions by December 31, you will forfeit the balance in your account.
Health Savings Account (HSA)
A Health Savings Account (HSA) helps you pay for eligible healthcare expenses today while saving for tomorrow. If you enroll in an HSA-eligible medical plan, you can contribute pre-tax dollars through payroll deductions and use those funds for qualified medical, dental, and vision expenses.
Why Consider an HSA?
Your Money Rolls Over. Unlike an FSA, unused HSA funds remain in your account from year to year. There is no use-it-or-lose-it rule.
Save & Invest. Your HSA can be more than a healthcare spending account. Eligible balances can be invested, allowing your savings to grow over time.
It’s Your Money. You own your HSA. If you leave Beacon Mobility or retire, your account and balance stay with you.
Which Medical Plans Are HSA Eligible?
PPO (New) Plan – Not HSA Eligible, Healthcare FSA only
High Deductible Health Plan (HDHP) – HSA and Healthcare FSA Eligible, but not both
Value Plan – HSA and Healthcare FSA Eligible, but not both
Save Money on Healthcare Expenses
Both FSAs and HSAs can help lower your taxable income by allowing you to pay for eligible healthcare expenses with pre-tax dollars.
For example, if you contribute $50 per week to an FSA or HSA, your taxable income is reduced. Although you contribute the full $50 toward future healthcare expenses, your take-home pay may decrease by less because of the tax savings associated with pre-tax contributions.
Additional HSA resources
Why choose an HSA?
Win with a HSA
HSA Frequently Asked Questions
Search Eligible Health Care HSA Expenses
Additional FSA resources
Search Eligible Health Care FSA Expenses
What is a Health Care FSA and Dependent Care Account? (short video)
What is a Health FSA? (short video)
What is a Dependent Care FSA? (Short video)
Medical FSA and Dependent Care FSA: Contribution limits & IRS regulations
WEX FSA Benefits Card: How does it work?
Flexible Spending Account Carryover
WEX Benefits Mobile App
Dependent Care FSA Facts
FSA Claim Submissions
How to file a claim in your online account?
How to file a claim in the WEX benefits mobile app?
Enrollment & Additional Benefits
Flexible Spending Account:
Beacon Mobility offers a Flexible Spending Account (FSA) Plan through WEX. An FSA allows you to pay for healthcare and dependent care expenses using money from your paycheck that is not taxed. A Healthcare FSA allows you to pay for expenses such as doctor copayments, prescriptions, dental services, and eyeglasses. A Dependent Care FSA is for expenses such as elder care, daycare center, preschool, and before and after school care. New enrollees will receive a debit card in the mail that can be used to pay for qualifying expenses.
What is a Health Care FSA and Dependent Care Account?
What is a Health FSA?
What is a Dependent Care FSA?
- Medical FSA and Dependent Care FSA: Contribution limits & IRS regulations
- WEX FSA Benefits Card: How does it work?
- Flexible Spending Account Carryover
- WEX Benefits Mobile App
- Dependent Care FSA Facts
- FSA Claim Submissions
- How to file a claim in your online account?
- How to file a claim in the WEX benefits mobile app?
