FSA and HSA

TriNet offers flexible spending accounts (FSAs) and a health savings account (HSA) that can help worksite employees save money on everyday expenses.

Flexible Spending Accounts

The maximum health care FSA annual contribution limit for the 2020 benefits plan year will increase by $50 to $2,750. The maximum dependent day care FSA annual contribution limit for the 2020 benefits plan year remains unchanged at $5,000.

Health Care Flexible Spending Account (FSA)

Used to pay for eligible health care-related expenses, up to $2,750 per benefits plan year. See IRS Publication 502 for a list of eligible expenses.

Limited-Use Health Care FSA

For worksite employees enrolled in a High-Deductible Health Plan (HDHP) with a health savings account (HSA). Eligible expenses include dental and vision expenses shown in IRS Publication 969, but exclude HSA-eligible medical expenses.

Dependent Day Care Flexible Spending Account (FSA)

Used to pay for eligible expenses related to the care of a child or eligible dependent, up to $5,000 per benefits plan year. See IRS Publication 503 for a list of eligible expenses.

FSA Key Dates

2019 Flexible Spending Account (FSA) Dates
June 30, 2020	This is the last day to incur (or make) eligible dependent day care FSA expenses that can be paid from worksite employees’ 2019 plan year accounts.
September 15, 2020*	This is the last day to incur (or make) eligible health care FSA expenses that can be paid from worksite employees’ 2019 plan year accounts.
October 31, 2020	This is the last day claims can be submitted for eligible expenses incurred for the 2019 plan year for both the health care and dependent day care FSA accounts.

2020 Flexible Spending Account (FSA) Dates
June 30, 2021	This is the last day to incur (or make) eligible dependent day care FSA expenses that can be paid from worksite employees’ 2020 plan year accounts.
September 15, 2021*	This is the last day to incur (or make) eligible health care FSA expenses that can be paid from worksite employees’ 2020 plan year accounts.
October 31, 2021	This is the last day claims can be submitted for eligible expenses incurred for the 2020 plan year for both the health care and dependent day care FSA accounts.

_{*Grace period is only applicable if the worksite employee is an active participant on the last day of the plan year.}

Health Savings Account

The maximum HSA single contribution limit for the 2020 calendar year is $3,550. The maximum HSA family contribution limit for the 2020 calendar year is $7,100.

If you want to contribute to worksite employees’ HSAs, you can choose:

A one-time, lump-sum payment during the TriNet benefits plan year.
A monthly contribution.
A combination of the two.

HSA Key Dates

2020 Health Savings Account (HSA) Dates
July 1, 2020	New HSA elections start on the first pay date following July 1, 2020*
July 1–December 31, 2020	HSA contributions count toward IRS 2020 calendar year contribution limits
January 1–June 30, 2021	HSA contributions count toward IRS 2021 calendar year contribution limits

_{*Worksite employees may enroll in an HSA or change or stop their HSA deductions at any time during the year. The HSA Payroll Change Form is available on TriNet (login.TriNet.com).}