Spending & Savings Accounts

Thermo Fisher offers a variety of tax-advantaged healthcare accounts for health and dependent/eldercare expenses, depending on where you live and the medical plan you elect. All accounts are administered by Smart-Choice.

Accounts Overview

Depending on factors such as the medical plan you elect and if you have eligible dependent or elder care expenses, you may choose from:

Health Savings Account (HSA)^* – Exclusively for Basic and Core HDHP participants.
Healthcare Flexible Spending Account (FSA) – PPO and regional medical plan participants can enroll in this account, as well as anyone who waives medical coverage.
Limited Purpose FSA (LPFSA) – Similar to the Healthcare FSA, but only available for those enrolled in an HDHP plan, with eligible expenses limited to dental and vision.
Dependent Care FSA (DCFSA) – Benefits-eligible colleagues who have eligible dependents under the age of 13 or elder care expenses as a result of having to go to work can enroll in this account.

*Additional eligibility requirements may apply (noted in the MyBenefits portal). For questions, contact MyBenefits.

*Additional eligibility requirements may apply.

Account Comparison

	HEALTH SAVINGS ACCOUNT (HSA)	HEALTHCARE FLEXIBLE SPENDING ACCOUNT (FSA)	LIMITED PURPOSE FLEXIBLE SPENDING ACCOUNT (LPFSA)	DEPENDENT CARE FLEXIBLE SPENDING ACCOUNT (DCFSA)¹
Administrator	Administered by Smart-Choice	Administered by Smart-Choice	Administered by Smart-Choice	Administered by Smart-Choice
Availability	UHC Basic or Core HDHP participants	Participants in the UHC PPO, Kaiser, UPMC, Quartz or HMSA medical plans, those who waive medical coverage or participants not enrolled in an HDHP²	UHC Basic or Core HDHP Participants	Anyone
Action Required	You may update voluntary employee contributions at any time	Must enroll during enrollment window to participate. No changes allowed unless you experience a qualified life event	Must enroll during enrollment window to participate. No changes allowed unless you experience a qualified life event	Must enroll during enrollment window to participate. No changes allowed unless you experience a qualified life event
Thermo Fisher’s Contribution	Thermo Fisher will contribute to your HSA; the company contribution will be funded up front and will be prorated based upon your enrollment date (see below for HSA funding details)	Thermo Fisher cannot contribute	Thermo Fisher cannot contribute	Thermo Fisher cannot contribute
IRS Limit on 2023 Contributions	Including Thermo Fisher’s contribution, you can contribute tax-free up to: $3,850 (individual coverage) $7,750 (family coverage) If you’re age 55 or older, you can contribute an additional $1,000	You can contribute tax-free up to $3,050	You can contribute tax-free up to $3,050	You can contribute tax-free up to $5,000
Use of Account Before It’s Funded	The account must be funded before it can be used to cover expenses	Spend the funds you elected to contribute at any time, even if that amount isn’t yet fully funded	Spend the funds you elected to contribute at any time, even if that amount isn’t yet fully funded	The account must be funded before it can be used to cover expenses
Carries Forward Year to Year	Your balance always carries forward	You can roll over $610 of unused 2023 dollars to 2024, assuming you didn’t enroll in a high-deductible health plan for 2024³	You can roll over $610 of unused 2023 dollars to 2024	You cannot roll over
Eligible Expenses	Use your account to cover out-of-pocket healthcare expenses, such as prescription drugs, doctor visits, dental care and more	Use your account to cover out-of-pocket healthcare expenses, such as prescription drugs, doctor visits, dental care and more	Use your account to cover out-of-pocket dental and vision expenses	Use your account to pay for certain expenses related to child daycare, after-school care, adult daycare, elder care and more
When Funds Can Be Used	Anytime, including in retirement	For expenses incurred during the plan year, with the exception of rollover funds	For expenses incurred during the plan year, with the exception of rollover funds	For expenses incurred during the plan year
Portability	The account is yours to keep, even if you leave Thermo Fisher	You lose any remaining balance if/when you leave Thermo Fisher	You lose any remaining balance if/when you leave Thermo Fisher	You lose any remaining balance if/when you leave Thermo Fisher
Interest & Investment Income	Earn tax-free interest and invest your balance once it reaches $1,000	Does not earn interest or offer investment opportunities	Does not earn interest or offer investment opportunities	Does not earn interest or offer investment opportunities

Nondiscrimination Testing – Under the Internal Revenue Code and related federal regulations, Plan benefits are subject to testing and review to ensure proper eligibility requirements are followed. You will be notified if this affects you.
Participants of the HDHP plan can elect an FSA if not eligible for an HSA
Colleagues with a healthcare FSA who enroll in a high deductible health plan will automatically receive any unused dollars in a Limited Purpose FSA (LPFSA).

2023 HSA Funding

Career Bands 1-4

Enrollment Date	Prorating Percentage	Company Contribution (Individual/Family)
January 1 – March 31	100%	$750 / $1,500
April 1 – June 30	66%	$500 / $1,000
July 1 – September 30	33%	$250 / $500
October 1 – December 31	0%	$0 / $0

Career Bands 5+ and all CRG colleagues

Enrollment Date	Prorating Percentage	Company Contribution (Individual/Family)
January 1 – March 31	100%	$500 / $1,000
April 1 – June 30	66%	$333 / $667
July 1 – September 30	33%	$167 / $333
October 1 – December 31	0%	$0 / $0

User Guides

To help colleagues make the most of the HSA, you’ll find a user guide posted on MyBenefits. This includes more details on eligible expenses, tips, reminders and more. Search “HSA” on MyBenefits to access.

2023 Benefits Guide

Accounts Overview

Account Comparison

2023 HSA Funding

User Guides

Key Contacts

Not available in Puerto Rico