Health Care Flexible Spending Account (FSA)

Health Care Flexible Spending Account (FSA)

A Health Care Flexible Spending Account (FSA) is a tax-advantaged account that allows you to set aside money for a wide range of eligible medical, prescription drug, dental, and vision expenses. The money you contribute is pre-tax, which can reduce your taxable income. When you use the funds for qualified expenses, the withdrawals are tax-free.

Iron Mountain FSAs are administered by Fidelity.

Tax advantages described here are for federal income tax purposes only. State income tax treatment of contributions and earnings may vary. Check with your tax advisor for more information.

• Eligibility

  You can have a Health Care FSA if you’re enrolled in the Select Network Plan (EPO), Choice PPO Plan, or Kaiser Permanente Plan (or if you waive medical coverage).

• How it works

  Here’s how you can use a Health Care FSA.

  
  

  Contribute

  During Open Enrollment, you can elect your annual contribution amount, up to a maximum of $3,300. This amount is deducted from your paycheck in equal pre-tax installments throughout the year. You can only change your contribution amount during the year if you have a qualifying life event.

  Pay

  Use your Fidelity debit card for direct payments, or submit claims online for reimbursement. Always save your itemized receipts and Explanation of Benefits (EOBs) statements, as they are required by the IRS to verify your claims.

  Spend

  Key Deadlines: This is a 'use-it-or-lose-it' account. You must incur eligible expenses by March 15th of the following plan year and submit your claims by March 31st to receive reimbursement. Any funds not claimed by this deadline will be forfeited.

  For 2025 plan year balances:

  Claims Incurred	Deadline to Submit Claims to Fidelity
  January 1, 2025 – March 15, 2026	March 31, 2026

  For 2026 plan year balances:

  Claims Incurred	Deadline to Submit Claims to Fidelity
  January 1, 2026 – March 15, 2027	March 31, 2027

  If you leave Iron Mountain and do not continue your FSA through COBRA, you are subject to the same deadline to submit claims, however, the claims must be incurred prior to your termination date.

  For a full list of eligible expenses, view IRS Publication 502.

  To review the legal requirements governing health FSAs, see IRS Publication 969.

For more information, contact Fidelity at 833-299-5089.