Spending Accounts
You can save money when you use tax-free dollars from a Flexible Spending Account (FSA) to pay eligible health and dependent care expenses incurred by you, your spouse or your dependent child(ren).
Starting January 1, 2026, the Dependent Care FSA annual limit will increase for the first time in decades. If you are single or married filing taxes jointly, you may contribute up to $7,500 per household a year to a Dependent Care FSA. The minimum annual contribution is $240.
Dependent Care FSA Match
Employees with a family adjusted gross income up to $130,000 can apply for Northwestern matching funds by completing the online Dependent Care Employer Match Application. For assistance completing this form, review this User Guide. To begin the match on the first of the month, an application must be received by the Benefits Office by no later than the 15th of the preceding month.
You must enroll every year during Open Enrollment for the following year.
Due to IRS regulations, the HSA is only available to individuals enrolled in a qualified High Deductible Health Plan (HDHP). For plan year 2026 you must be enrolled in the HSA Plus or HSA Essential plans to participate in Northwestern's Health Savings Account. Covers health care expenses incurred by you or your eligible tax dependents not paid by insurance. Complete listing in IRS publication 502 found on the IRS website. For more information, view the HSA Quick Reference Guide.
Northwestern will match your pre-tax contribution to your HSA up to:
- $1,000 - if you elect You Only coverage, or
- $2,000 - if you elect You + Spouse, You + Child(ren) or You + Family coverage
If you and Northwestern contribute the maximum allowed, the total contributions to your HSA for the year will equal the annual maximum contribution allowed under federal regulations.
Review the Health Savings Account website for information on how to invest your funds for tax-free growth.