Tax Advantaged Accounts
The American Lung Association offers several accounts that enable you to pay for eligible expenses tax free. The IRS provides a list of eligible expenses for each account at irs.gov.
Types of Accounts
Health Savings Account (HSA)
Available to those enrolled in the $3,500 Deductible HDHP with HSA Plan as long as you are not enrolled in any other health coverage or Medicare or claimed as a dependent on someone else’s tax return.
Health Care Flexible Spending Account (FSA)
Your options depend on your medical plan enrollment. You do not need to enroll in a medical plan to elect the Health Care FSA.
You can use this account for medical, pharmacy, dental and vision expenses.
If you contribute to an HSA, you cannot open a Health Care FSA.
Dependent Care FSA
Comparison of Accounts
| HSA | FSA | |
|---|---|---|
| Does the company contribute? | ||
| Can I contribute my own savings? | ||
| Is there an IRS maximum annual contribution? | Employee: $4,300 |
Health Care: $3,300 Dependent Care: $5,000 |
| Will my savings roll over each year? | Unlimited |
FSAs provide a grace period |
| Will I earn interest on my savings? | ||
| Are the savings tax free in most states? | ||
| Will I get a debit card? | Health Care FSA only |
|
| Do I keep the money if I leave the company? | Option to continue Health Care FSA only through COBRA |
|
| Can I also have a Flexible Spending Account (FSA)? | Dependent Care FSA only |
N/A |
Health Savings Account
A Health Savings Account (HSA) is available to you only if you enroll in the $3,500 Deductible HDHP with HSA Plan. Benefit Resource Inc. (BRI) is the vendor for the HSA. An HSA allows you to make tax-free contributions to a savings account to pay for current and future medical expenses for you and your dependents.
Eligibility Details
- If you are age 55 or older, you can contribute an additional $1,000 per year.
- You cannot have an HSA if you are enrolled in any other health coverage or Medicare, or claimed as a dependent on someone else’s tax return.
- You cannot participate in the Health Care Flexible Spending Account (FSA) if you contribute to an HSA. Your spouse also cannot have a Health Care FSA.
- If you have a balance in your Health Care FSA after December 31, you may not begin contributing to the HSA until the first of the month after all FSA funds have been used.
More detailed information on the HSA can be found at benefitresource.com.
Register your BRI account
Register an account on the BRI website using the following information:
- Company code: lungusa
- Member ID: Your Social Security Number (no dashes)
Start It
- Your Contributions to the HSA are tax free.
- Plans with an HSA typically cost less than other plans, so the money you save on premiums can be put into your HSA. You save money on taxes and have more flexibility and control over your health care dollars.
Build It
- All of the money in your HSA is yours even if you leave your job, change plans or retire.
- In 2025, you can contribute up to $4,300 for individual coverage and $8,550 for family coverage.
Use It
- You can withdraw your money tax free at any time, as long as you use it for qualified expenses (a list can be found on irs.gov).
- You can also save this money for use on future eligible health care expenses.
Grow It
- Unused money in your HSA will roll over, earn interest and can grow tax free over time.
- You decide how to use your HSA money, including whether to save it or spend it for eligible expenses.
- When your balance is large enough, you can invest it—tax free.
Flexible Spending Accounts (FSAs)
A Flexible Spending Account (FSA) helps you pay for health care or dependent care costs using tax-free dollars. Benefit Resource Inc. (BRI) is the vendor for the Health Care FSA and the Dependent Care FSA.
Your contribution is deducted from your paycheck on a pre-tax basis and is put into the FSA. You can access the funds in your account to pay for eligible expenses.
The following chart shows the eligible expenses for each FSA and how much you can contribute each year. Each of these options reduces your taxable income.
More detailed information on FSAs can be found at benefitresource.com.
Register your BRI account
Register an account on the BRI website using the following information:
- Company code: lungusa
- Member ID: Your Social Security Number (no dashes)
| ACCOUNT TYPE | ELIGIBLE EXPENSES | ANNUAL CONTRIBUTION LIMITS |
|---|---|---|
| Health Care FSA | Most medical, dental and vision care expenses that are not covered by your health plan (such as copayments, coinsurance, deductibles, eyeglasses and prescriptions). Your Health Care FSA can be used to cover the cost of some over-the-counter products. Visit the FSA Store for a list of eligible expenses. |
|
| Dependent Care FSA | Dependent care expenses (such as daycare or after-school programs) for children under age 13 or eldercare so you and your spouse can work or attend school full time. | Minimum contribution is $240 per year. Maximum contribution is $5,000 per year ($2,500 if married and filing separate tax returns). |
Important Information About FSAs
Your FSA elections are effective from January 1 through December 31. Our Health Care FSA provides for a grace period; participants will have until March 15, 2026, to incur expenses against their 2025 elections and until April 15, 2026, to submit claims for reimbursement. Any remaining account balances after April 15, 2026, will be forfeited.
Please plan your contributions carefully. Any unused money remaining in your account(s) will be forfeited. This is known as the “use-it-or-lose-it” rule and it is governed by IRS regulations. Note that FSA elections do not automatically continue from year to year; you must actively enroll each year.