Limited FSA
The Limited Flexible Spending Account (LFSA) is similar to a Health Care Flexible Spending Account (FSA), however the LFSA only reimburses for eligible dental and vision expenses. Similar to a Health Care FSA, funds must be used during the plan year while employed at Loyola; otherwise, the funds expire.
Annual Contributions
The maximum 2026 contribution amount $3,400.00. ontributions are not subject to federal income tax, Social Security tax or Medicare tax.
Carryover Amount & Grace Period
Loyola will allow last year's Health Care FSA participants to carryover the allowed carryover max of unused funds at the end of the year into the following year. Health Care FSA balances greater than the rollover limit will be forfeited and will not be refunded. The deadline for submitting claims against your last year's Health Care Flexible Spending Account balance is March 31st.
Leaving the University
Only expenses incurred prior to the date your participation in the plan ends are eligible for reimbursement, unless you continue through COBRA. You have 90 days to submit a claim that was incurred on or before your termination date. You may continue your LFSA through COBRA if your current expenses have not exceeded your year to date contributions; however, payments including an administrative fee will be on an after‐tax basis.
The Limited Flexible Spending Account (LFSA) is similar to a Health Care Flexible Spending Account (FSA), however the LFSA only reimburses for eligible dental and vision expenses. Similar to a Health Care FSA, funds must be used during the plan year while employed at Loyola; otherwise, the funds expire.
Annual Contributions
The maximum 2026 contribution amount $3,400.00. ontributions are not subject to federal income tax, Social Security tax or Medicare tax.
Carryover Amount & Grace Period
Loyola will allow last year's Health Care FSA participants to carryover the allowed carryover max of unused funds at the end of the year into the following year. Health Care FSA balances greater than the rollover limit will be forfeited and will not be refunded. The deadline for submitting claims against your last year's Health Care Flexible Spending Account balance is March 31st.
Leaving the University
Only expenses incurred prior to the date your participation in the plan ends are eligible for reimbursement, unless you continue through COBRA. You have 90 days to submit a claim that was incurred on or before your termination date. You may continue your LFSA through COBRA if your current expenses have not exceeded your year to date contributions; however, payments including an administrative fee will be on an after‐tax basis.