Tax advantaged accounts
Manage your money wisely with these tax advantaged accounts.
The Flexible Spending Accounts are administered by our vendor, Inspira Financial.
Important Reminder: Carryover Unused FSA funds
The IRS limits how much money you may contribute to your FSA each plan year and limits the amount of unused funds you can carryover into the new plan year.
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Health Care FSA (including Limited-Purpose Health Care FSA): You may contribute up to $3,200/year (per 2024 IRS limit). You will be able to carryover up to the designated limit of your 2024 unused funds into 2025. Remaining unused funds will be forfeited. Learn more about the Health Care FSA and eligible expenses.
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Dependent Care FSA: You may contribute up to $5,000/year. You cannot carryover unused funds into 2025. All unused funds will be forfeited. Learn more about the Dependent Care FSA and eligible expenses.
2023 Participants:
You have until March 31, 2024 to submit qualified Health Care and Dependent Care FSA expenses incurred through December 31, 2023 for reimbursement.
2024 Participants:
You will have until March 31, 2025 to submit qualified Health Care and Dependent Care FSA expenses incurred through December 31, 2024 for reimbursement.
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You may also call Inspira Financial directly at 888-678-8242 if you have additional questions about your FSAs.
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Effective January 1, 2024
Natus allows employees to contribute up to the 2024 IRS limits of $3,200 for Health Care FSA and $5,000 for Dependent Care FSA.
Health Savings Account (HSA)
Natus’ Aetna HDHP with HSA Plan qualifies as a high deductible health plan, giving you access to a tax advantaged Health Savings Account (HSA).
Health Savings Accounts are terrific tax-efficient savings accounts that allow you to put aside pre-tax dollars out of each paycheck to pay for future medical, dental and vision expenses. HSA funds never expire – they are yours forever, even if you leave Natus. These funds roll over each year, allowing you to build a savings account for health care expenses or for retirement.
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Once your HSA balance reaches $1,000, you may invest these funds and let them grow tax-free.
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After age 65, you can spend HSA money on unqualified expenses without paying a tax penalty, but you are subject to applicable income taxes.
In addition to the money that you may elect to set aside from each paycheck, Natus will fund your HSA twice for 2024. The total HSA contribution will be split in half and you will receive one contribution in January and the second in July.
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If you cover only yourself or yourself + spouse or domestic partner, Natus will contribute $1,000 per year*
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If you cover yourself and one or more children, or yourself and your family, Natus will contribute $1,500 per year*
* Please make note that the Natus contribution into your HSA will be prorated based on your hire date. Calculations are based on the pay periods left in the plan year on the date of hire.
Natus contracts with Inspira Financial to administer HSA for its employees. Visit inspirafinancial.com, Quick Reference Guide, or call directly at 888-678-8242 for more information.
Identity protection
Did you know that requests for withdrawals from HSA accounts have been made by criminals – and funds successfully withdrawn – with as little as the employee’s name, address, DOB, and SSN?
Some employer sponsored HSAs may have a zero-liability policy if employees don’t report fraud or stolen funds within a certain timeline (e.g. 30 or 60 days). Similarly, banks may not reimburse for fraudulent purchases made with a PIN.
Regularly reviewing your balance not only ensures you are investing correctly but also allows you to notice quickly if you’ve become a victim of identity theft.
IdentityForce expense reimbursement may be valuable gap protection in the event a hacker gets into those accounts.
With IdentityForce by your side, even if your account is compromised, they are there to provide guidance with resolving the issue and will even assist with reimbursement of funds lost.
Dependent Care Flexible Spending Account (DCFSA)
A Dependent Care Flexible Spending Account (Dependent Care FSA) is an employer-owned, tax-advantaged account that allows you to set aside a portion of your income on a pre-tax basis to pay for qualified dependent care expenses, such as preschool, summer day camp, before / after school programs, and child or adult daycare. Natus allows employees to contribute up to the IRS limits of $5,000 for Dependent Care FSA.
Per pay period calculations below are based on the pay periods left in the plan year on the date of hire. Beginning this year, you may carryover any unused funds, read more below on how this plan feature works.
Please note that you need to re-enroll in Dependent Care FSA every year to continue using it.
Health Care Flexible Spending Accounts (FSAs)
Health Care Flexible Spending Accounts (Health FSAs) allow you to set aside a portion of each paycheck on a pre-tax basis in order to pay for planned upcoming healthcare expenses. Natus allows employees to contribute up to the 2024 IRS limits of $3,200 for Healthcare FSA. Beginning this year, you may carryover any unused funds, read more below on how this plan feature works.
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There are two types of Health FSAs:
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General-Purpose Health FSA – For employees who are not enrolled in a Health Savings Account alongside the Aetna HDHP with HSA medical plan. You may not contribute to a traditional or General-Purpose Healthcare FSA if you are contributing to a Health Savings Account in the same year. You may use traditional FSA dollars to pay for eligible medical, dental and vision expenses throughout the year.
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Limited-Purpose Health FSA – For employees who are already enrolled in a Health Savings Account (HSA) but want to set aside additional pre-tax dollars to pay for planned upcoming healthcare expenses. Important note – Limited-Purpose FSA dollars may only be used to pay for eligible dental and vision expenses (but not medical expenses).
Use funds to pay for
COVID-19 expenses
Face masks, hand sanitizer and other personal protective equipment used to prevent COVID-19 spread can be treated as medical expenses. Submit these items for reimbursement with Inspira Financial .
