You can save money on eligible health care expenses and dependent care expenses by paying for them with tax-free money.
Endeavor offers you the opportunity to contribute pre-tax money from your paycheck to multiple tax-advantaged accounts.
Saving and Spending Accounts:
- Health Savings Account (HSA)
- Healthcare Flexible Spending Account (HCFSA)
- Limited Purpose Flexible Spending Account (LPFSA)
- Dependent Care Flexible Spending Account (DCFSA)
Key features at a glance
Tax-free money.
Money goes in tax-free and comes out tax-free when it’s used for eligible expenses.
Convenient payroll deductions.
Contribute to your FSAs/HSA easily and effortlessly.
Helpful budgeting tool.
Plan for upcoming expenses by setting aside money from each paycheck.
| HSA | Health Care FSA | Limited Purpose FSA | Dependent Care FSA | |
|---|---|---|---|---|
| Available with… | High Deductible Health Plan with HSA (HDHP) |
Open Access Network Only 80/0 Plan
Choice POS II 80/60 Plan Choice POS II 90/80 Plan |
High Deductible Health Plan with HSA (HDHP) |
Available to all benefits-eligible
employees, regardless
of medical plan enrollment*
*Employees making $150,000 or less are eligible to participate in the Dependent Care FSA. |
| Receive company contribution | Yes, $500 employee only coverage, $1,000 for all other coverage levels | No | No | No |
| Use account money for… | All eligible health care expenses | All eligible health care expenses | Only dental and vision expenses* | Eligible childcare and eldercare expenses |
| “Use It or lose it” at year-end | No | Yes, but can roll over up to $640 | Yes, but can roll over up to $640 | No, you forfeit any funds left in your account at the end of the year |
| Money is always yours to keep | Yes | No | No | No |
You are only eligible for an HSA if you enroll in the High Deductible Health Plan with HSA (HDHP).
The Health Savings Account (HSA) is a tax-free savings account that you can use to pay for eligible health expenses.
HSA Eligibility
To enroll in the HSA, you must be enrolled in the High Deductible Health Plan with HSA (HDHP) and:
- You can’t be enrolled in any other health insurance plan.
- You or your spouse cannot have a general-purpose Healthcare Flexible Spending Account (FSA) in the same year.
- If you are enrolled in Medicare, you are not eligible to contribute to the HSA.
- You can’t be claimed as a dependent by someone else.
You can access your HSA at HealthEquity.
How the HSA Works
Put money in tax-free
- Contribute to your HSA through pre-tax payroll deductions.
- Change your contribution amount anytime.
Get company contributions
Endeavor will contribute $500 if you have employee-only coverage and $1,000 for all other coverage levels.
Endeavor’s contributions are made on a quarterly basis (divided equally).
Pay for care tax-free
Pay for eligible health expenses, such as deductibles, coinsurance, doctor’s visits, prescriptions, and other health-related costs.
Carry unused money over
The money in your HSA is always yours to keep so even if you change jobs or retire from Endeavor, you keep your HSA dollars.
Keep in mind: 2024 contribution limits
Keep in mind, the maximum amount you and Endeavor can contribute to your HSA is determined by annual limits set by the IRS. In 2024, the total contribution limits are:
- $4,150 for employee-only coverage.
- $8,300 for all other coverage levels.
Plus, an additional $1,000 in catch-up contributions if you’re 55 or older.
Pairs with the Open Access Network Only 80/0 Plan, Choice POS II 80/60 Plan, Choice POS II 90/80 Plan.
You can contribute pre-tax money from your paycheck to a Healthcare Flexible Spending Account (FSA) with HealthEquity. Using an FSA is like getting a discount on everyday health care expenses because you don’t pay income tax on FSA money.
Use your Healthcare FSA dollars to pay for medical, dental, and vision expenses such as copays, deductibles, supplies, and prescribed medication. Even many over-the-counter items are eligible! See a complete list of eligible expenses.
Estimate carefully!
With FSA money, you “use it or lose it.” You can only carry over up to $640 of unused money in your FSA to the next year; you will forfeit any remaining amount above $640. So, before you enroll in a Healthcare FSA, think carefully about how much you expect to spend in out-of-pocket medical, dental, vision, and pharmaceutical expenses for your family during 2024.
How the Healthcare FSA works
Choose
Choose your contribution amount when you enroll. You can only change it during the year if your personal situation changes, so estimate carefully.
Contribute
Your annual contribution will be divided into equal payroll deductions, but the entire amount is available to you from the beginning of the plan year.
Spend
Spend your money on eligible expenses by using your FSA debit card, or log in to the HealthEquity website to request reimbursement for payments you’ve made.
Use It Up
Up to $640 of unused money may be carried over to the next year; any additional amount will be forfeited. You have 90 days after the end of the year to submit claims for the prior year’s expenses.
Keep in mind: 2024 contribution limit
Keep in mind, the maximum amount you can contribute to your Healthcare FSA is determined by annual limits set by the IRS. In 2024, the contribution limit is $3,200.
How much could you save?
Here’s an example. Let’s say Tom decides to set aside $2,000 in an FSA for the year. Normally, on that money, he’d pay $480 in federal income tax, $100 in state income tax, and $153 in payroll tax. So, by contributing that $2,000 to his FSA, he’ll get $733 in tax savings for the year.
| Without an FSA, Tom would pay … | Savings |
|---|---|
| 24% in federal income tax | $480 |
| 5% in state income tax | $100 |
| 7.65% in payroll tax | $153 |
| His total tax savings for the year with an FSA | $733 |
This hypothetical illustration is for educational purposes only. Dollar amounts or savings will vary depending on income, state and city tax rules, and other factors. Please consult a tax, legal, or financial advisor about your own personal situation.
Reminder: You must re-enroll in your Health Care FSA and select your contributions each year during Open Enrollment. You can only change your contribution amount during the year if you experience a qualifying life event.
Can be used with the High Deductible Health Plan with HSA (HDHP) only.
The Limited Purpose FSA works together with the Health Savings Account (HSA) to give you additional tax-savings opportunities.
This account can be used to cover eligible dental and vision expenses (e.g., fillings, crowns, orthodontics, eye exams, contact lenses, Lasik, and other vision and dental-related costs).
Please note: After your HDHP deductible is met, you can use your Limited Purpose FSA dollars for any eligible health expense (not just dental and vision expenses).
Keep in mind: 2024 contribution limit
Keep in mind, the maximum amount you can contribute to your Limited Purpose FSA is determined by annual limits set by the IRS. In 2024, the contribution limit is $3,200
You may carry over up to $640 of your remaining balance into the following calendar year. Any balance over $640 remaining at the end of the year will be forfeited.
Pairs with any medical plan. Only employees making $150,000 or less are eligible to participate in the Dependent Care FSA.
The Dependent Care FSA allows you to set aside pre-tax money to cover eligible childcare or adult-dependent care expenses like day care, summer camp, after-school programs, and more.
Keep in mind: 2024 contribution limit
Keep in mind, the maximum amount you can contribute to your Dependent Care FSA is determined by annual limits set by the IRS. In 2024, the contribution limit is:
- $5,000, or $2,500 if married and filing taxes separately.*
*Make sure that you and your spouse limit your individual elections to total no more than $5,000 combined.
There is no carryover amount with a Dependent Care FSA. Any funds remaining in your Dependent Care FSA are forfeited if not incurred or submitted by the annual deadline.