Tax savings accounts: Know your options

UC’s tax savings accounts allow you to set aside pretax money each year for health and dependent care expenses:

• Health Savings Account (HSA) — Save for health care expenses. Administered by HealthEquity; you must be enrolled in UC Health Savings Plan to enroll and contribute. 
• Health Flexible Spending Account (Health FSA) — Save for health care expenses. Administered by WEX; you may not have both an HSA and an FSA.
• Limited Purpose Flexible Spending Account (LPFSA) — Automatically created if you have a Health FSA balance and enroll in the UC Health Savings Plan, administered by WEX.
• Dependent Care Flexible Spending Account (DepCare FSA) — Save for dependent care expenses (such as daycare, summer camp or eldercare), administered by WEX.

You can download a PDF comparing the rules and purposes of UC’s tax savings accounts to decide what’s right for you.