You can choose to enroll in one account, both accounts, or neither.*
Medical care flexible spending account (FSA)
Dependent care flexible spending account (FSA)
Important: If you want to take advantage of the pretax savings of an FSA for medical or childcareexpenses, you need to sign up every year during open enrollment (re-enrollment is not automatic!)
Enrolling in an FSA? Check out the information below to decide your 2025 contribution level.
*if you enroll in the HDHP/HSA coverage, you are not eligible for a medical care FSA; however, you can still choose to enroll in a dependent care FSA.
Plan Details:
2025 Contribution Levels
Medical care FSA: $3,200
Note: The contribution levels noted here reflect updates from the IRS for 2024.
If you and your spouse each have a health care FSA, you can each contribute up to $3,200.
The annual limit for FSA medical per employee is $3,200. This does not include any rollover dollars from the previous year.
Dependent care FSA: $5,000
If you and your spouse each have a dependent care FSA, you are limited to $5,000 between the two of you. If you're married and filing taxes separately, your contribution limit is $2,500.
Eligible Expenses
Visit these convenient resource pages on the Inspira website to learn more about how FSAs work and what expenses are eligible or ineligible:
You should assess your needs carefully for both the medical care and dependent care flexible spending accounts and take advantage of all the tax savings you can reasonably estimate.
For the plan year 2025, up to $640 of unused money in your 2024 medical care FSA account will be rolled over into your 2025 account to be used for eligible medical expenses.
The $640 rollover does not offset the 2025 election amount available. The rollover does not apply to the FSA dependent care account.
The IRS allows Cornell to extend the time that flexible spending dependent care account participants can incur and submit claims for reimbursement. For example, if your 2025 dependent care annual amount is $5,000, you have until March 15, 2026 to incur additional expenses that can be used for reimbursement against your 2025 annual amount.
You need to submit 2024 account claims for reimbursement by April 30, 2025, otherwise the “use-it-or-lose-it” rule comes into effect and you will lose the unused funds. It is important that you submit 2024 claims prior to submitting 2025 claims so that your remaining 2024 monies will be exhausted prior to your 2025 monies being used.
