HSA & FSA

Stretch Your Health Dollars

Health Savings Account (HSA)

If you enroll in the Cigna HSA Medical plan, you are eligible to open a Health Savings Account. An HSA can help you pay for eligible health care expenses such as medical, dental, vision care, and prescription drugs.

What’s in It for Me?

  • Niagara contributes FREE money to your HSA! See the chart below for contributions.
  • You can set aside pre-tax money from your paycheck to help pay for additional health care expenses. HSAs give you triple tax advantages:
    • Your contributions to the HSA are not taxed*
    • Payment of qualified expenses is tax-free
    • Earnings are tax-free*
  • The HSA is an individual account you own! The entire balance is yours to keep. If you leave Niagara, the account goes with you.
  • You can make changes to your HSA contributions at any time. Unused funds always roll over to the next plan year.
  • Enjoy the freedom to control and manage your health care spending and savings while growing your balance for future qualified medical expenses, such as those in retirement.
    *State taxes may still apply in CA and NJ. For detailed tax implications of an HSA, please contact your professional tax advisor.

Contributions cannot exceed the annual IRS maximums. You’ll earn a $0.50 Niagara HSA match on every $1 you set aside in your HSA up to a maximum match of $500/individual or $1,000/family.

You may only spend the dollars funded in your account. Each payday, your contributions and the Niagara HSA Match will be available to spend.

Coverage Type 2025 Niagara HSA Match 2025 Maximum Team Member Contribution 2025 Maximum Contribution Limit
Individual 50% up to $500 Up to $3,800 $4,300
Family 50% up to $1,000 Up to $7,550 $8,550

Note: Team Members aged 55 or older may contribute an additional $1,000 beyond the annual maximum as part of “catch-up” contributions.

Contributions cannot exceed the annual IRS maximums. You’ll earn a $0.50 Niagara HSA match on every $1 you set aside in your HSA up to a maximum match of $500/individual or $1,000/family.

You may only spend the dollars funded in your account. Each payday, your contributions and the Niagara HSA Match will be available to spend.

Coverage Type 2026 Niagara HSA Match 2026 Maximum Team Member Contribution 2026 Annual IRS Contribution Limit
Individual 50% up to $500 Up to $3,900 $4,400
Family 50% up to $1,000 Up to $7,750 $8,750

Note: Team Members aged 55 or older may contribute an additional $1,000 beyond the annual maximum as part of “catch-up” contributions.

  • You must be enrolled in the Cigna HSA Medical Plan and also enroll in the Health Savings Account (HSA) plan in Workday.
  • You cannot be covered under another health plan, including your spouse’s employers’ Medical plan or your Spouse’s Health Care Flexible Spending Account.
  • You cannot be enrolled in Medicare or Tricare.
  • You cannot be claimed as a dependent on someone else’s tax return.

*State taxes may still apply in CA and NJ. For detailed tax implications of an HSA, please contact your professional tax advisor.

Flexible Spending Account (FSA)

FSAs allow you to set aside pre-tax dollars to pay for eligible health and dependent care expenses. Each year, you must elect the annual amount you want to contribute to one or both accounts. Your contributions will be deducted pre-tax from your paycheck which can help reduce your taxable income. These are “Use It or Lose It” accounts—the dollars in your FSA must be spent by the annual deadline. Be strategic when selecting your contribution amount and plan your expenses wisely.

Annual FSA elections are fixed for the plan year and cannot be changed unless you experience a Qualifying Life Event.

The chart below provides an overview of the 2025 FSA details and contribution limits.

 FSA Type Health Care FSA Limited Purpose FSA Dependent Care FSA
Eligibility Eligible Team Members enrolled in the Cigna PPO, Cigna PPO High, or Medical Opt Outs Eligible Team Members enrolled in the Cigna HSA Plan and Health Savings Account ONLY All eligible Team Members
Annual Contribution Limit $3,300 $3,300 $5,000 ($2,500 if married and filing separately)
Eligible Expenses* Health care plan deductibles, copays, coinsurance, and prescriptions, including dental and vision hardware and expenses for you, your spouse, and your children Dental and vision expenses only Daycare for children age 12 and under, disabled children, and dependent adults
Availability of Funds The full amount you choose for the year is available when your plan begins The full amount you choose for the year is available when your plan begins Reimbursements can be incurred up to the amount available in your account.
Date to Incur Expenses 3/15/2026 3/15/2026 12/31/2025
Last Day to Submit
Reimbursement Requests		 3/31/2026 3/31/2026 3/31/2026

*Refer to IRS Publication 502 and 503 for a complete list of eligible expenses.

The chart below provides an overview of the 2026 FSA details and contribution limits.

 FSA Type Health Care FSA Limited Purpose FSA Dependent Care FSA
Eligibility Eligible Team Members enrolled in the Cigna PPO, Cigna PPO High, or Medical Opt Outs Eligible Team Members enrolled in the Cigna HSA Plan and Health Savings Account ONLY All eligible Team Members
Annual Contribution Limit $3,400 $3,400 $7,500 ($3,750 if married and filing separately)
Eligible Expenses* Health care plan deductibles, copays, coinsurance, and prescriptions, including dental and vision hardware and expenses for you, your spouse, and your children Dental and vision expenses only Daycare for children age 12 and under, disabled children, and dependent adults
Availability of Funds The full amount you choose for the year is available when your plan begins The full amount you choose for the year is available when your plan begins Reimbursements can be incurred up to the amount available in your account.
Date to Incur Expenses 3/15/2027 3/15/2027 12/31/2026
Last Day to Submit
Reimbursement Requests		 3/31/2027 3/31/2027 3/31/2027

*Refer to IRS Publication 502 and 503 for a complete list of eligible expenses.

FSAs offer significant tax advantages, but are subject to strict IRS rules & regulations:

  • All expenses for the Health Care and Dependent Care FSAs must be incurred during the plan year:
    • Medical FSA and Limited Purpose FSA: January 1st through March 15th of the following plan year
    • Dependent Care FSA: January 1st through December 31st
  • The IRS has a strict “Use-It or Lose-It” rule for FSAs. You have until March 31st of the following plan year to submit receipts for expenses incurred during the Plan Year
  • When you swipe your FSA Debit Card for provider expenses, you will likely need to submit proof of your expense to assure you did not use the FSA for ineligible expenses. Best practice is to submit the carrier’s Explanation of Benefits instead of your provider’s receipt. See the contact list for quick access to your carrier’s websites
  • Once you enroll in the FSA, you can only change your contribution amount if you experience a Qualifying Life Event
  • Each account functions separately. You cannot transfer funds from one FSA to another

Contact

Fidelity

HSA Documents

HSA

FSA