FSA and HSA benefits with Lincoln Financial Group

Your benefits may include the option to pay for care pre-tax with an FSA or an HSA. Either of these options helps you pay for out-of-pocket medical expenses while saving money that would normally go to taxes.

A Health Care Flexible Spending Account (HC FSA) is an account that you can put pre-tax dollars into to cover eligible health care expenses, like copayments, deductibles, certain prescription drugs, or other various health care costs. Employees enrolled in the Core POS or EPO medical plan are eligible for the medical FSA. You cannot elect the Health Care FSA if you elect the Core or Value High Deductible Health Plan and Health Savings Account.

In addition to the medical FSA, employees can elect to participate in the Dependent Care FSA (DC FSA) for dependents under the age of 13. The Dependent Care FSA assists you in paying for child or other dependent care services on a pre-tax basis when those services make it possible for you and your spouse (if you’re married), to work. You do not need to be enrolled in a Lincoln medical plan in order to participate in the dependent care FSA.

Alight Smart-Choice is Lincoln’s FSA provider. For questions, call Alight Smart-Choice at 833-418-1944 or visit benefits.lfg.com.

A Health Savings Account (HSA) is an individual health account that combines a High Deductible Health Insurance Plan (HDHP) with a tax-exempt trust account. Together, they can help you pay for medical expenses that aren’t covered by an HDHP, especially expenses that would otherwise go towards satisfying the deductible. An HSA is pre-tax. The Health Savings Account, administered by Alight Smart-Choice, may be elected only in conjunction with electing the Core High Deductible Health Plan or the Value High Deductible Health Plan.

Contact Alight Smart-Choice at 833-418-1944 or visit benefits.lfg.com for questions.

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