Solventum helps you make the most of the money you already spend taking care of yourself and your family with access to several tax-advantaged accounts. Your account options vary depending on the type of expense and your benefit elections.
A flexible spending account (FSA) is a tax-advantaged account that allows you to conveniently save money on health care and dependent care expenses. You don’t have to pay taxes on the money you contribute to these accounts, which results in more take-home pay for you. The balance does not roll over, and eligible expenses need to be incurred within the plan’s calendar year.
Keep in mind to check your FSA balances periodically as expenses must be incurred prior to the end of the plan year on December 31 and submitted for reimbursement by March 31 following the plan year. Any funds not used by the deadline will be forfeited.
Domestic partner FSA eligibility rules
You cannot claim health care or dependent care expenses for your domestic partner and their child(ren) unless they satisfy the definition of a tax dependent by the IRS.
Paying for eligible expenses
You can pay for eligible expenses multiple ways:
File via fax or U.S. mail (paper claim form):
Solventum offers eligible employees access to a Health Savings Account (HSA) and a Health Care Flexible Spending Account (FSA), both of which allow you to use pre-tax money to pay for eligible expenses like prescriptions, doctor visits, sunscreen, baby care items and more.
Use the chart to see how each account works to make the best decision for you:
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Health Savings Account (HSA) through Fidelity |
Health Care Flexible Spending Account (FSA) through HealthEquity |
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|---|---|---|
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What is covered? |
You and your family members’ eligible medical, prescription drug, dental and vision expenses. |
You and your family members’ eligible medical, prescription drug, dental and vision expenses incurred Jan. 1-Dec. 31, 2026. |
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Who is eligible? |
Employees enrolled in the Choice Advantage or Prime Advantage Plans1 |
Employees enrolled in a Solventum medical plan2 |
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How much can I contribute?3 |
Minimum: $300
Employees age 55 or older can contribute an additional $1,000 per year. |
Minimum: $300 Maximum: $3,300 |
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How much does Solventum contribute? |
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None |
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When are funds available? |
Personal contributions through payroll deductions are added to your HSA within 7 – 10 business days following each payroll. |
Your full elected amount is available at the start of the plan year (January 1 or when you enroll in the plan for the current plan year). |
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What happens with unused funds? |
Carryover to next year |
Forfeited |
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Can I make changes to my contribution amount? |
Yes. You can modify your contribution at any time. |
No. You can only stop, start or change your contribution if you experience a Qualifying Status Change event. |
1. Must not be claimed as a dependent on someone else’s tax return; covered by a spouse’s Health Care FSA; or covered by any other non-qualified medical plan, including Medicare A, Medicare B or Tri-Care.
2. Employees enrolled in an Advantage Plan may contribute only if they are not eligible for an HSA.
3. The contributions by the company count toward the annual contribution limit. If your spouse contributes to an HSA at their employer, it counts toward your household total.
Why consider an HSA?
With an HSA, you own the account and keep the balance, even if you change plans or leave Solventum. You can use the account for eligible healthcare expenses now or save it for future needs. HSAs also offer a triple tax advantage: contributions go in tax-free, withdrawals for eligible expenses are tax-free and investment earnings grow tax-free.
Invest your HSA contributions
In addition to the tax advantages on contributions, since deposits grow tax-deferred, the HSA provides a significant long-term investment for future health care expenses. Our HSAs offer investment options and there is no minimum to start investing. You can invest your HSA balance, just like you invest IRA funds. To learn more or to start investing, contact Fidelity at 800-544-3716.
Important reminder for FSAs
Remember, FSAs are “use it or lose it” accounts. You must incur eligible expenses by the end of the year and submit reimbursement claims by the applicable deadline.
Solventum helps fund your HSA
If you enroll in the Choice Advantage or Prime Advantage Plan and are eligible for an HSA, Solventum contributes up to $600 for employee-only coverage or $1,200 for all other coverage levels. This amount is prorated (reduced) for employees hired after January 1. You can use these funds for eligible expenses now or save them for future healthcare needs.
