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Key Updates About Spending Accounts in 2026
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financial

Flexible Spending Accounts

Health care and dependent care expenses can add up quickly. With a Flexible Spending Account, you can set aside pre-tax dollars to lower your taxable income for the year and save money on everyday expenses.

The Basics

How It Works

Alera Group offers a Health Care FSA, Limited Purpose Health Care FSA (if you’re enrolled in an HDHP medical plan), and Dependent Care FSA.

The amount you elect to contribute is split evenly across pay periods for the year and deducted from each paycheck before taxes.

You can enroll as a new hire, during Open Enrollment, and within 30 days after a qualified life event. You must enroll each year to participate.

What’s Covered

Use your FSA funds to pay for eligible expenses tax-free.

  • Health Care FSA: Medical, dental, and vision expenses
  • Limited Purpose Health Care FSA: Dental and vision expenses only
  • Dependent Care: Child care and elder care expenses

 

See below for details.

How You Pay

Use your FSA debit card to pay for health care expenses directly. For dependent care expenses, pay out-of-pocket and submit a claim for reimbursement.

All FSA expenses must be submitted for reimbursement by March 31 of the next plan year. Be sure to save your receipts!

Transitioning Your FSA to MyChoice Accounts

For 2026, MyChoice Accounts is the administrator for the FSAs, replacing AleraPay. Here’s what you need to know:

  • If you enrolled in a 2026 Health Care or Limited Purpose FSA, you should have received a new debit card in the mail in December.
  • If you enrolled in a 2026 Health Care or Limited Purpose FSA and have money left in your 2025 FSA after March 31, 2026, Alera Group will automatically transfer your balance—up to the IRS limit of $660—to your MyChoice Accounts FSA.
  • If you had a Dependent Care FSA in 2025, you have until March 15, 2026, to incur expenses and use remaining funds. If you have remaining funds after that date, they will be forfeited since there is no carryover allowed with that type of FSA. Submit claims for reimbursement by March 31, 2026.
  • For 2026 only, if you have leftover 2025 FSA funds but did not enroll in a 2026 FSA, an account will still be opened for you with MyChoice Accounts. The type of account (Health Care or Limited Purpose) will depend on your medical plan. Your balance will appear by late April or early May. Going forward, you must actively enroll in an FSA to roll over funds and avoid forfeiting unused balances.
  • If you have remaining 2025 Health Care FSA funds on March 31, 2026 and have enrolled in an HDHP with an HSA for 2026, your balance will automatically be moved into a Limited Purpose FSA with MyChoice Accounts.

Your FSA Options

Who’s eligible?
How much can I contribute per year?
When are all the funds available?
What can I use the money for?
How do I access the money?
Can I roll over unused funds?

Health Care FSA

All benefit-eligible colleagues except HSA participants

Up to $3,400 

Current employees: January 1
New hires or employees with a qualifying life event: Your benefits effective date

Medical, dental and vision expenses, such as deductibles, copays, prescriptions and more for you, your spouse, and your tax dependents.²

See irs.gov for a full list.

You will receive an FSA debit card to pay for qualified purchases. Keep your receipts! You may be asked to submit them.

You can carry over up to $680 into 2026 and 2027. Unused balances over these amounts will be forfeited.

Limited Purpose Health Care FSA

HSA participants only

Up to $3,400 

Current employees: January 1
New hires or employees with a qualifying life event: Your benefits effective date

Dental and vision expenses for you, your spouse, and your tax dependents.²

Once you meet the deductible, eligible medical expenses can also be reimbursed. Submit claims to MyChoice Accounts.
You will receive an FSA debit card to pay for qualified purchases. Keep your receipts! You may be asked to submit them.

You can carry over up to $680 into 2026 and 2027. Unused balances over these amounts will be forfeited.

Dependent Care FSA

All benefit-eligible colleagues

Up to $5,000 per year ($2,500 if married and filing separately)¹
Funds are available as contributions are made to your account

Child care under age 13 (including before/after school programs, babysitters, and day camp), elder daycare, and care for dependents of any age who are physically or mentally unable to care for themselves and who live with you for more than half the year.

See irs.gov for a full list of eligible expenses.

Pay out of pocket and submit a form for reimbursement on your MyChoice Accounts portal or mobile app.
No, but you do have a grace period until March 15 of the following year to incur eligible expenses

¹If you’re considered a highly compensated colleague, your Dependent Care FSA contribution may be adjusted or taxed to meet IRS rules. You’ll be notified if this applies to you. 

²FSA funds cannot be used for expenses for domestic partners and/or other dependents who do not qualify as tax dependents.

 

Health Care FSA vs. Health Savings Account (HSA)

Both accounts let you pay for health care expenses with tax-free dollars. But there are some important differences:

  • You can only contribute to an HSA if you’re enrolled in a high deductible health plan (HDHP).
  • Unlike the Health Care FSA, Alera Group contributes to your HSA.
  • With an HSA, you can invest your funds and earn interest tax-free, which helps you build long-term savings. You can use it for current or future medical, dental, and vision expenses.
  • With a Health Care FSA, you must use most of your funds by the end of the plan year. With an HSA, your balance rolls over each year and is yours to keep if you leave Alera Group.

Learn more about the HSA.

Get in Touch

MyChoice Accounts (2026)

Company Code: aleragroup
Activate your card and set your PIN

AleraPay (2025)

Surest

Access code: Alera2026

Kaiser

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Health Savings Account (HSA)
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