Save with an FSA
We offer three types of spending accounts that let you save money tax-free: the health care flexible spending account (HCFSA), the limited purpose flexible spending account (LPFSA) and the dependent care flexible spending account (DCFSA).
how the accounts work
Health Care FSA
Limited Purpose FSA
Dependent Care FSA
How does it work?
Flexible spending accounts (FSAs) are designed to help you budget money to pay for certain eligible health care and dependent care expenses during the year. The money you set aside in an FSA is not subject to payroll taxes, which could help you save money.
Employees enrolled in the Preferred Provider Organization (PPO) Plan
Employees enrolled in the High Deductible Health Plan
Any benefits-eligible employee
How much can I elect to contribute per year?
$120–$5,000
$2,500 if you are married and file separate federal tax returns.
You can only use funds that are currently in your account.
When is the account funded?
Funded every January 1 for annual enrollment or hire date for new hires
Funded every January 1 for annual enrollment or hire date for new hires
After each paycheck
How much does ONEOK contribute?
$0
$0
$0
What can the money be used for?
Eligible expenses, including:
- Medical.
- Prescription drug.
- Dental.
- Vision.
Go to the IRS site for a full list of eligible expenses.
Eligible dental and vision expenses only; medical eligible after HDHP deductible met.
Go to the IRS site for a full list of eligible expenses.
Eligible expenses, including:
- Licensed nursery schools.
- Licensed day care. centers for children under age 13 and disabled adults.
Go to the IRS site for a full list of eligible expenses.
How do I access the money?
Online claim form or debit card
Online claim form or debit card
Pay expenses out of pocket
then submit an online claim form through myUHC for reimbursement.
Can I roll over unused money?
No
You can use the money for claims incurred January 1, 2025, until March 15, 2026, and you must submit all claims for reimbursement by March 31, 2026. Any remaining balance is forfeited.
No
You can use the money for claims incurred January 1 until December 31, 2025, and you must submit all claims for reimbursement by March 31, 2026. Any remaining balance is forfeited.
No
You can use the money for claims incurred January 1, 2025, until March 15, 2026, and you must submit all claims for reimbursement by March 31, 2026. Any remaining balance is forfeited.
Is the money use it or lose it?
Yes
Unused dollars are forfeited. If terminated, you may take funds with you.
Yes
Unused dollars are forfeited. If terminated, you may take funds with you.
Yes
Unused dollars are forfeited.
Do I have to reenroll for the account every Open Enrollment?
Yes
Yes
Yes
Looking for the health savings account (HSA)?
The HSA is a different kind of tax-savings account available if you’re enrolled in the HDHP. Find out all the details to know which account works best for you.