Health Savings & Spending Accounts

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Health Savings & Spending

People worry about affording the cost of healthcare and living expenses today and in the future.

MetLife Health Savings & Spending Accounts suite:

  • Health Savings Account
  • Health Flexible Spending Account
  • Dependent Care Flexible Spending Account
  • Limited Purpose Flexible Spending Account
  • Commuter Benefits


The MetLife Difference

  • Robust investment options1 and high-yield interest rates on all Health Savings Account cash balances, at least 2-3x industry average2
  • Industry-first ability to offer HSA and LP-FSA bundle with near 100% paperless
    claims experience (when combined with Vision and Dental)
  • Solutions for everyday living expenses like paying for dependent care and commuting
  • Single, smart multi-purpose debit card that knows which benefit account to tap into based on product/service expense category
  • Seamless and streamlined participant experience with a single, integrated platform across multiple devices (mobile + web) to manage all health savings & spending accounts
  • Tailored educational resources & decision support tools to help employees understand and maximize the value of their benefits

Explore Our Options

Selecting Right Option

MetLife provides a flexible range of tax-advantaged benefit solutions and educational resources. 

Our Products
Health Savings Account (HSA)

Health Savings Account (HSA)

If currently enrolled in a High Deductible Health Plan (HDHP), you are eligible to open/contribute to an HSA.

Flexible Spending Account (FSA)

Flexible Spending Account (FSA)

Set aside money to help assist with qualified medical expenses.

Dependent Care FSA (DC-FSA)

Dependent Care FSA (DC-FSA)

Use pre-tax dollars towards expenses for caring for a child or dependent adult.

Limited Purpose FSA (LP-FSA)

Limited Purpose FSA (LP-FSA)

A benefit that helps you save on qualified vision, dental and preventive care expenses. 

Commuter Benefits

Commuter Benefits

Get more mileage out of your paycheck by using pre-tax- funds to help pay for your commute.

Save on taxes when you contribute to an HSA. Use pre-tax dollars to pay for qualified medical expenses and enjoy tax-free asset growth for future needs, like retirement healthcare expenses.

Expenses covered:

  • Copays, coinsurance, deductibles
  • Office visits, X-ray, and lab work
  • Qualified vision and dental expenses
  • Prescriptions and over-the-counter medications and supplies
  • Other qualifying items such as blood pressure monitors and diabetes testing supplies

Healthcare expenses can really add up. That’s a good reason to take advantage of an FSA. It lets you use pre-tax dollars to pay for out-of-pocket qualified healthcare expenses.

Expenses covered:

  • Copays, coinsurance, deductibles
  • Office visits, X-ray, and lab work
  • Qualified vision and dental expenses
  • Prescriptions and over-the-counter medications and supplies
  • Other qualifying items such as blood pressure monitors and diabetes testing supplies

Save on your taxes and dependent care expenses. Lessen the financial impact of caring for an eligible child or dependent adult; you pay for qualified expenses with pre-tax dollars.

Expenses covered for dependent children age 12 and under3:

  • Before-and-after school childcare programs
  • Preschool tuition
  • Nanny/babysitter and more


Dependent adult care, like the cost of in-home caregivers and adult day care.

Spend less on taxes, save more on vision, dental and preventive care expenses. With an LP-FSA, you’ll preserve HSA funds to use for other expenses.

Expenses covered:

  • Dental and eye exams
  • Prescriptions glasses and contact lenses
  • LASIK surgery
  • Dental X-rays, filings and cleanings
  • Orthodontia and more

A new way to make your commuting expenses go further. You can use pre-tax funds accessed through a smart debit card to pay for work-related transit and/or parking.

Pay for:

  • Parking expenses
  • Mass transit passes
  • Van pooling
  • Other qualified expenses
Savings That Add Up

Health Savings & Spending Accounts can help you save up to 30% on qualified expenses4.

Featured Video

Health savings & spending accounts: a suite of savings and spending solutions created with your life in mind.

How can we help you?

MetLife is pleased to offer group customers a health savings & spending accounts solution that offers valuable tax advantages, robust features, and an integrated customer experience.  Brokers may earn compensation for providing their clients with product education and engaging them on the benefits and savings available to them and their employees.  Please contact your MetLife representative today for additional details.

DocumentsMetLife’s HS&SA Solutions (PDF 118 KB)

Please contact your MetLife representative for additional details on how MetLife’s suite of HS&SA products can benefit you and your employees.

HSA FAQs

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In order to open and/or contribute to an HSA, you must currently be enrolled in a High Deductible Health Plan (HDHP). You can contribute to an HSA if:

  • You are not covered under any other health plan that is not a qualified HDHP, including a general purpose health care Flexible Spending Account (FSA) or Health Reimbursement Account (HRA), or if you are not covered under TRICARE.
  • You are not enrolled in Medicare or Medicaid.
  • You cannot be claimed as a dependent on another person’s tax return.

Other restrictions may apply.

Pre-tax dollars are funds from your paycheck that are contributed to your HSA before taxes have been taken out. Since you’re not paying taxes on money you contribute, you end up with more money to use for qualified expenses.

Contributions are automatically transferred from your paycheck to your HSA. Your money starts to earn interest immediately and — once your cash balance reaches $2,000 — you will have the option of investing amounts over that into mutual funds or other investment vehicles.

Contribution maximums for 2020 are $3,550 for individuals and $7,100 for families, plus a catch-up contribution up to $1,000 for accountholders age 55 and over7. Your contribution should be determined by how much you anticipate in out-of pocket expenses for this and future years and how much you can afford to have deducted from your paycheck. You may also want to consider contributions for longer-term investments when deciding on the amount of your deduction.

You can use HSA funds tax- and penalty-free for a range of qualified out-of-pocket expenses. These include copays, coinsurance and deductibles; office visits; hospital bills; prescriptions and OTC medications and supplies; qualified dental and vision care; diagnostic items such as diabetic testing supplies; and more.

HSA funds used for non-qualified expenses are taxed and subject to a 20% penalty if you are less than 65 years of age. Beginning at age 65, HSA funds for non-qualified expenses are taxed, but do not incur any penalty.

There are three ways to access your HSA funds. You can use a smart debit card which is connected to your account to pay for any qualified expenses. You can also go through your HSA online portal to pay providers or submit a distribution request.

You’ll have 24/7/365 online access to account information through the online portal and mobile app. You’ll be able to view details on contributions, balance, spending and interest income. Plus, if you opt to invest your funds, you’ll be able to track results. You can download the MetLife HS&SA mobile app for your device from the Apple app store or Google Play and login using the password you use to access the online portal.

You will have a robust range of investment options which will include access to a standard set of mutual funds and may include access to a self-directed brokerage account via Charles Schwab1.

You don’t have to invest. When your balance reaches $2,000, you’ll have the option of investing the excess, but you are not required to do so. You can continue to earn interest at a rate of 2-3x industry average or higher2.

Unused funds simply remain in your HSA and can be used in future years as needed.

You will always retain your unused funds regardless of your employment status. If you change jobs or lose your job and are still enrolled in a High Deductible Health Plan (HDHP), you can retain your or roll the funds into a new HSA (if offered by your new employer) and contribute to make contributions. If you are no longer enrolled in an HDHP, you can retain your HSA and access the funds, but can’t make additional contributions to your account. If you retire and are enrolled in Medicare, you can retain your HSA and access your funds; however, cannot make additional contributions to your account.

FSA FAQs

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Pre-tax dollars are funds from your paycheck that are credited to your FSA before taxes have been taken out. Since you’re not paying taxes on money you contribute, you end up with more money to use for eligible expenses.

Contributions are automatically transferred from your paycheck and credited to your FSA. These funds can then be used for qualified expenses.

The contribution maximum for 2020 is $2,750.7 Your contribution should be determined by how much you anticipate in out-of-pocket expenses for the year and how much you can afford to have deducted from your paycheck.

There are three ways to pay for expenses. You can use a smart debit card which is connected to your account. You can also pay providers directly through your FSA online portal or submit receipts for reimbursement.

You can use FSA funds for a range of out-of-pocket expenses. These include copays, coinsurance and deductibles; office visits; hospital bills; prescriptions; over-the-counter medicine and drugs, qualified dental and vision care; diagnostic items such as diabetic testing supplies; and more.

You’ll have 24/7/365 online access to account information through the online portal and mobile app. You’ll be able to view details on your contributions, balance and spending. You can download the MetLife HS&SA app for your device from the Apple app store or Google Play and login using the password you use to access the online portal.

This will vary based on the group plan being offered.

Expenses must be incurred before your termination date to be eligible for reimbursement (unless you are eligible for and choose COBRA continuation coverage of your FSA). You can apply for reimbursement from your FSA funds for eligible expenses until your account is depleted or the claim period established by your employer expires.

DC-FSA FAQs

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Pre-tax dollars are funds from your paycheck that are credited to your DC-FSA before taxes have been taken out. Since you’re not paying taxes on money you contribute, you end up with more money to use for eligible expenses.

Contributions are automatically transferred from your paycheck and credited to your DC-FSA. These funds can then be used for eligible expenses.

The contribution maximum for 2020 is $5,000 a year per household or $2,500 a year for married employees who file separate returns.5 Your contribution should be determined by how much you anticipate spending on dependent care and how much you can afford to have deducted from your paycheck.

You can use DC-FSA funds to pay for a range of expenses for eligible dependents.3 These include expenses for elder care, and for children under age 13, expenses for nannies/babysitters, licensed nursery schools, qualified childcare centers, sick child care, before- and after-school programs, summer day camp, preschool tuition and more.

There are three ways to pay for expenses. You can use a smart debit card which is connected to your account. You can also pay providers directly through your DC-FSA online portal or submit receipts for reimbursement.

You’ll have 24/7/365 online access to account information through the online portal and mobile app. You’ll be able to view details on your contributions, balance and spending. You can download the MetLife HS&SA app for your device from the Apple app store or Google Play and login using the password you use to access the online portal.

This will vary based on the group plan being offered.

Expenses must be incurred before your termination date to be eligible for reimbursement. You can apply for reimbursement from your DC-FSA funds for eligible expenses until your account is depleted or the claim period established by your employer expires.

LP-FSA FAQs

Expand All

Pre-tax dollars are funds from your paycheck that are credited to your LP-FSA before taxes have been taken out. Since you’re not paying taxes on money you contribute, you end up with more money to use for eligible expenses.

Contributions are automatically transferred from your paycheck and credited to your LP-FSA. These funds can then be used for qualified dental, vision and preventive care expenses.

The contribution maximum for 2020 is $2,750.7 Your contribution should be determined by how much you anticipate in covered expenses for the year and how much you can afford to have deducted from your paycheck.

You can use LP-FSA funds for a range of qualified vision, dental and preventive care expenses. These include dental and eye exams, prescription glasses, contact lenses, LASIK surgery, dental X-rays, fillings and cleanings, orthodontia, diagnostic services, prescription and over-the-counter medications and drugs for dental and vision and more.

There are three ways to pay for expenses. You can use a smart debit card which is connected to your account. You can also pay providers directly through your DC-FSA online portal or submit receipts for reimbursement.

You’ll have 24/7/365 online access to account information through the online portal and mobile app. You’ll be able to view details on your contributions, balance and spending. You can download the MetLife HS&SA app for your device from the Apple app store or Google Play and login using the password you use to access the online portal.

This will vary based on the group plan being offered.

Expenses must be incurred before your termination date to be eligible for reimbursement (unless you are eligible for and choose COBRA continuation coverage of your LP-FSA). You can apply for reimbursement from your LP-FSA funds for eligible expenses until your account is depleted or the claim period established by your employer expires.

Commuter Benefits FAQs

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Pre-tax dollars are funds from your paycheck that are credited to your Commuter Benefits account before taxes have been taken out. Since you’re not paying taxes on money you contribute, you end up with more money to use for eligible expenses.

Contributions are automatically transferred from your paycheck and credited to your Commuter Benefits account. These funds can then be used for eligible expenses.

You can contribute: Up to $270 a month for transit and vanpooling combined and up to $270 a month for qualified parking in 2020.7

You can use funds for: Mass transit (including bus, ferry and train), vanpooling and qualified parking expenses.

There are three ways to pay for expenses. You can use a smart debit card which is connected to your account. You can also pay providers directly through the online portal or submit receipts for reimbursement.

You’ll have 24/7/365 online access to account information through the online portal and mobile app. You’ll be able to view details on your contributions, balance and spending. You can download the MetLife HS&SA app for your device from the Apple app store or Google Play and login using the password you use to access the online portal.

Unused funds can be rolled over month to month as long as you remain with your current employer.

Funds not used before your last day of employment will be forfeited. However, you can submit claims for eligible expenses incurred during employment for up to 90 days.

NEXT STEPS

Contact your employer for more information.

It is the employee who determines whether to invest funds, and the employee selects those investments from the platform made available through MetLife.

MetLife Internal Analysis (last updated April 2019). Cash savings balances in an HSA earn interest through a funding agreement issued to the custodian bank, are not FDIC insured, and are subject to the financial strength and claims paying ability of Metropolitan Tower Life Insurance Company. The interest rates earned on the assets allocated to the funding agreement option are declared to the custodian and are guaranteed for at least 12 months from the date the interest rate is declared. There may be different interest rates applicable to different allocations depending upon when the allocation was made to the funding agreement option. The funding agreement option provides the investor with a stable rate of return over time. Metropolitan Tower Life Insurance Company may earn a spread from assets allocated to the funding agreement option available under HSAs.

3 Eligible dependents include any child age 12 and under who resides with a participant, and any spouse, parents, or other tax-dependent adults who reside with the participant and who are physically or mentally incapable of self-care.

Savings are based on estimated Federal, State and Local tax rate of 30%. The amount participants can save in taxes will vary depending on various factors, such as the amount they set aside in the accounts, their annual earnings, whether or not they pay Social Security taxes, the deductions they claim on their tax returns, their tax brackets and their state and local tax regulations. Participants should check with their own tax advisors for information on how their participation will affect their tax savings.

Contribution limits are subject to change and should be checked on an annual basis on the IRS website.