Can a family have 2 FSA?
Asked by: Dr. Alice Eichmann | Last update: October 2, 2025Score: 4.1/5 (51 votes)
What is double dipping FSA?
What is “double dipping”? Double dipping is paying for an expense on a tax-free basis and also being reimbursed (or receiving a tax deduction) for the same expense on a tax-free basis. This is forbidden by the IRS.
What happens if you put more than $5000 in dependent care FSA?
However, if you have more than $5,000 in dependent care expenses (effectively paid with after-tax dollars since you added it to your income), you may be able to use that additional amount to claim a dependent care tax credit on the Form 2441.
Can both spouses have an FSA in 2024?
If the employee's spouse has a plan through their employer, the spouse can also contribute up to $3,200 to that plan. In this situation, the couple could jointly contribute up to $6,400 for their household. For FSAs that permit the carryover of unused amounts, the maximum 2024 carryover amount to 2025 is $640.
Can both spouses have a limited purpose FSA?
Yes, if your spouse is eligible to make contributions to a limited-purpose FSA. Each spouse may contribute up to the $2,600 maximum limit to their own health FSA. This applies even if both spouses participate in the same health FSA plan sponsored by the same employer.
How to use your FSA money - My 6 best buys
Can a married couple have two flexible spending accounts?
Facts about Flexible Spending Accounts (FSA)
They are limited to $3,300 per year per employer. If you're married, your spouse can put up to $3,300 in an FSA with their employer too. You can use funds in your FSA to pay for certain medical and dental expenses for you, your spouse if you're married, and your dependents.
What is the difference between FSA and limited purpose FSA?
Healthcare FSAs let you pay for all eligible medical expenses, including dental and vision expenses, as well as over-the-counter medications. Limited Purpose FSAs restrict eligible expenses to dental and vision eligible medical expenses exclusively.
How many FSA accounts per family?
It's not uncommon for there to be more than one FSA in a single household. Since an FSA lets you apply tax-free dollars towards eligible medical expenses, it makes sense financially for everyone in the family to take advantage of the benefit if they can.
Can you use FSA for gym membership?
But that's not all a Letter of Medical Necessity can do for you. You can even pay for your gym membership with FSA/HSA funds, making it easier than ever to access top-of-the-line equipment like the models we have in our studios.
What are the new FSA rules for 2024?
For the 2024 benefit period, you can contribute up to a maximum of $3,200 - an increase of $150 from the 2023 benefit period. You may also carry over unused funds up to a maximum of $640 into 2025 - an increase of $30 from the 2023 benefit period as long as you re-enroll.
What are the drawbacks of dependent care FSA?
Drawbacks of Dependent Care FSA
If money is left over at the end of the year, it doesn't carry over to the next year. If your employer doesn't offer this account, there is no other way to get one. Your FSA can only pay for qualifying expenses, while you're working.
Can I pay a babysitter with dependent care FSA?
Yes, your dependent care FSA can reimburse you for expenses paid to a babysitter under the age of 19 as long as the babysitter is not you or your spouse's child, stepchild, foster child, or tax dependent.
Can you double dip on dependent care FSA?
you may not “double-dip”, which means that expenses reimbursed under your Dependent Care FSA may not be reimbursed under your spouse's Dependent Care FSA and vice versa.
Can I buy toothbrush with FSA?
Brush-Up on FSAs and HSAs
However, current law does not recognize certain oral healthcare products — such as manual toothbrushes, electric toothbrushes, water flossers, mouthwash, or OTC anti-cavity toothpaste — as “qualified medical expenses.”
Can you max out FSA at two companies?
Healthcare FSA funds are associated with the employer plan and not with the individual employee. This means that you can elect the full IRS limit amount with each new employer, regardless of what you may have contributed to your FSA at your previous employer.
What does FSA mean on condoms?
Did you know you can get over-the-counter supplies such as condoms with a Flexible Spending Account? FSAstore.com sells popular brand-name items including Trojan condoms and Durex condoms. Shop for these and thousands of FSA eligible products at FSAstore.com.
Can FSA pay for massage?
Massage Therapy may be eligible for reimbursement with a Letter of Medical Necessity (LMN) with flexible spending accounts (FSA), health savings accounts (HSA) and health reimbursement arrangements (HRA).
Is Planet fitness FSA eligible?
Can you use flexible spending account (FSA) funds to pay for a gym membership or exercise classes? Typically, no. The Internal Revenue Service (IRS) usually doesn't allow funds from an FSA to pay for membership dues at health clubs or gyms.
Can both husband and wife have FSA?
Both you and your spouse can each have your own Healthcare FSA through your respective employers and both contribute the maximum amount to each account. For example, if you each contribute the maximum of $2,850* to your Healthcare FSAs, you will have a total of $5,700 for your family.
Are diapers FSA eligible?
Regular diapers for newborns and infants are not FSA eligible because they do not treat a medical condition, but rather aid a healthy function of the body. There are some ways to save, however, including sales, coupons, buying in bulk or joining rewards programs.
Can I use my FSA for my girlfriend?
The IRS has very strict guidelines about who and what your FSA money can be used for. When it comes to your personal FSA, you can only use your funds for yourself or for people who are considered qualifying dependents.
Can FSA be used for dental?
Flexible spending accounts (FSAs) allow employees to make tax-free contributions for various medical or dental expenses. Distributions are free, provided they are used for qualified medical expenses. In most circumstances, you can use your FSA for non-cosmetic dental procedures.
Can I use limited FSA for sunglasses?
In most cases, non-prescription sunglasses are not eligible for payment with FSA funds. However, reading sunglasses like our SunReaders® are FSA-eligible because they help correct presbyopia. Reading glasses (without tinted lenses) are also FSA-eligible for this reason.
Is an HSA or FSA better?
Bottom line: Both HSAs and FSAs provide financial benefits for managing health care expenses. HSAs offer more flexibility and long-term growth potential, making them a valuable tool for future financial planning. Learn about HSA options from Aetna.