What is a limited purpose FSA?
The most common Limited Purpose FSA (LPFSA) allows an individual to set money aside on a pre-tax basis (via payroll deduction) to pay for out-of-pocket dental and vision expenses. An employee could use their HSA to pay for dental and vision expenses, but by fully funding the HSA and funding the LPFSA to pay for this year's dental and vision expenses, the employee will maximize their tax savings while preserving the HSA balance for the future.
Introducing UMB HSA Saver
UMB HSA Saver is a unique investment platform designed with ease in mind. Account holders can easily research, buy and sell funds with a couple clicks.
HSA FAQ Resource
Find answers to your most common HSA questions in our comprehensive HSA FAQs section.