Am I eligible for an LPFSA?
If your company offers High Deductible health insurance with an HSA and you are eligible to enroll in one of their plans, you are eligible to enroll in a LPFSA. You do not need to be enrolled in health insurance through your company, you simply need to be eligible to be offered a qualified insurance plan. Though there are exceptions, self-employed employees and shareholders who own 2% or more in an S-Corp, LLC, LLP, PC, sole proprietorship, or partnerships are generally ineligible for LPFSAs.
If you already have a health savings account (HSA), or intend to sign up for one, you can only enroll in a Limited Purpose FSA and Child & Elderly Care FSA. You may not be enrolled in an HSA and a full purpose Health Care FSA at the same time.
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