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What is a limited purpose FSA?

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Limited purpose flexible spending account


Sometimes two is better than one. Two shoes. Two cars. Two viewpoints. How about two health care accounts? One to pay for qualified medical expenses, and one to pay for just dental and vision expenses. Expenses like lasik eye surgery, dental visits, and orthodontics! That’s the idea behind the Optum Financial limited purpose flexible spending account.

It’s offered through your employer during your open enrollment period. Check your benefit information to see if you’re eligible.

It’s a great companion to a health savings account, or HSA, which you may use to pay for unforeseen qualified medical expenses. The limited purpose FSA is just that – it has a limited purpose. It reimburses you for dental and vision expenses. You can easily pay for services at dental or vision clinics with your payment card.

With a limited purpose FSA, you decide how much you want to put into the account, and that lump sum is there the first day of the plan year. Plus, the money that goes in is deducted from your paycheck before taxes. Just make sure you use all the money in your limited purpose FSA.

It’s not like an HSA, where your funds roll over from year to year. Some plans may have a grace period or a carryover provision, but a limited purpose FSA is a “use it or lose it” account.

One important note: If you spend your limited purpose FSA dollars before the end of the plan year, and something else comes up like a root canal, additional dental or vision expenses could be paid from your HSA. Just make sure to check your plan details.

No matter what, we make it really easy to help you keep track of what you’ve spent and what you plan to spend, so you can plan efficiently and maximize your account.

Just go to optumfinancial.com or download our mobile app to check on your accounts, submit a claim and more. 

The Optum Financial limited purpose FSA. Combined with your HSA, it’s a case where two is better than one.


A limited purpose FSA is a great companion to a health savings account (HSA), which you may use to pay for unforeseen qualified medical expenses. The limited purpose FSA is just that — it has a limited purpose. It reimburses you for dental and vision expenses. You can easily pay for services at dental or vision clinics using your Optum Financial payment card.


Health savings accounts (HSAs) are offered or administered by Optum Bank®, Member FDIC, or ConnectYourCare, LLC, each a subsidiary of Optum Financial. HSAs are subject to eligibility requirements and restrictions on deposits and withdrawals to avoid IRS penalties. State taxes may apply. Fees may reduce earnings on account. Flexible spending accounts/arrangements (FSAs), health reimbursement arrangements (HRAs), Commuter and Parking Benefits, Adoption Reimbursement Plans, Tuitions Reimbursement Plans, Surrogacy Reimbursement Plans, Lifestyle Plans, COBRA Benefits, and all other account types are administered on behalf of your plan sponsor by Optum Financial, Inc. or ConnectYourCare, LLC (collectively, “Optum Financial”) and are subject to eligibility and restrictions. Please contact a legal or tax professional for advice on eligibility, tax treatment, and restrictions. Please contact your plan administrator with questions about enrollment or plan restrictions. Federal and state laws and regulations and the design of your plan are subject to change.

Self-directed mutual fund investment options are made available through the services of an independent investment advisor, or your plan sponsor. Discretionary advisory services are provided by Betterment LLC, an SEC-registered investment adviser, with associated brokerage transactions provided by Betterment Securities, member FINRA/SIPC. For details and disclosures visit betterment.com. Certain brokerage services are offered through TD Ameritrade, Inc., member FDIC/SIPC and a subsidiary of The Charles Schwab Corporation.  For details and disclosures, visit  www.tdameritrade.com. The Schwab Health Savings Brokerage Account is offered through Charles Schwab & Co., Inc., member FINRA/SIPC. For details and disclosures, visit schwab.com.

Orders are accepted to effect transactions in securities only as an accommodation to HSA owners. Optum Financial and its subsidiaries are not broker-dealers or registered investment advisors and do not provide investment advice or research concerning securities, make recommendations concerning securities, or otherwise solicit securities transactions.

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