GW Flexible Spending Accounts (FSAs)

GW faculty and staff are eligible to fund two different types of FSAs:

FSAs save you money by allowing you to use pre-tax dollars to pay for qualifying expenses. When you set aside some of your salary into one or both of the FSA options, the contributions are not subject to federal, state, local or FICA taxes.

Health Care FSA:

For 2027, you can contribute up to $3,400 for eligible expenses not covered by insurance:

Health expenses
Prescription expenses
Dental expenses
Vision expenses

These expenses can be for you or your eligible tax dependents, whether or not they are covered under a GW health plan. You can pay for expenses using the FSA debit card or submit a claim online and be reimbursed. Your full annual election is available to use as of the beginning of the plan year.

The Health Care FSA option does not roll over and requires you to re-enroll each year.

Dependent Day Care FSA:

You can contribute up to $7,500 (per household or $3,750 for married individuals filing separately) for eligible expenses that allow you (and if you are married, your spouse) to work:

Child day/custodial care expenses
Adult day/custodial care expenses

These expenses cannot be used for your or your dependents' healthcare expenses. You can submit a claim online and be reimbursed as money is deposited into your account throughout the year.

Note: Per IRS regulations, your annual Dependent Day Care FSA contribution may be reduced based on the level of participation by all faculty and staff.

If the IRS announces increases to the Health Care and/or Dependent Day Care FSA maximum amounts noted above during or following the Open Enrollment period and you have elected for 2027, you will be notified via email and have the opportunity to make a change to your election by the deadline provided.

Mark Your Calendars

FSAs are "use it or lose it" - choose your amounts wisely!

For 2027, you can claim health care expenses incurred between January 1, 2027, through March 15, 2028. You must file all claims by April 30, 2028.
For dependent day care, you can claim expenses incurred between January 1, 2027, through December 31, 2027. Again, all claims must be filed by April 30, 2028.
You must re-enroll in FSAs every year.

Newly electing an HSA for 2027 but have a HCFSA for 2026?

If you wish to have your HSA begin as of January 1, 2027, please be sure to have a zero balance in your 2026 HCFSA (including no pending claims) by December 31, 2026.
If you elect an HSA for 2027 and have remaining funds in 2026 HCFSA as of December 31, 2026, your HSA will be effective on April 1, 2027. (Under the plan, participants are not eligible to contribute to both an HSA and HCFSA at the same time.)