Flexible Spending Accounts (FSA)

Health and dependent care expenses can add up.

Paying for eligible expenses with tax-free money from a Flexible Spending Account (FSA) through Smart-Choice can help. You contribute to these accounts before taxes are calculated, so you don’t pay taxes on the amount you deposit, and you lower your taxable income.

You set aside money into your FSA through Smart-Choice for future medical needs.

At Mattamy, you can contribute to two different kinds of FSAs:

  • A Health Care FSA, for medical, prescription, dental, and vision expenses
  • A Dependent Care FSA, for eligible child or dependent adult care expenses while you work or attend school

Important!

If you are enrolled in the Cigna HDHP, you are not eligible to enroll in the Health Care FSA. You can enroll in the Dependent Care FSA regardless of medical plan enrollment.

For 2026, the limits for each account are as follows:

Health Care FSA Limits

Current Plan Year Contributions

Annual Rollover
Amount

$3,400

$680
Note: These are 2026 amounts. The IRS has not announced the 2027 amounts yet. You can roll over up to $680 of unused Health Care FSA funds to the following year.

Dependent Care FSA Limits

Current Plan Year Contributions

Married Filing
Separately

$5,000

$2,500 / person
Note: Dependent Care FSA funds do not roll over to the following year, and unused funds are forfeited.

For 2027, the Dependent Care FSA limits are staying the same. The 2027 Health Care FSA limits have not been announced yet.

Important Things to Know about your FSA:

  • If you are enrolled in the Cigna HDHP, you are not eligible to enroll in the Health Care FSA.
  • You must enroll in an FSA each year you want to participate, per IRS rules.
  • Once you sign up for one or both FSA accounts, you cannot change or stop your contributions unless you experience a Qualifying Life Event (QLE).
  • You have 90 days from the end of the plan year to submit reimbursement claims. This means you have until March 31st of the next plan year to submit claims that were incurred from January 1st through December 31st of this plan year.
  • FSAs are subject to a “use it or lose it” rule imposed by the IRS. Any money left in your 2026 account (beyond the rollover limit of $680 for the Health Care FSA) will be forfeited. You must re-enroll each year for your rollover amount to carry over.