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Introduction

Marathon Petroleum provides opportunities that can help you with your health care and dependent care costs. The Health Care Flexible Spending Account (HCFSA), Limited Purpose Flexible Spending Account (LPFSA), Health Savings Account (HSA), and the Dependent Care Flexible Spending Account (DCFSA), allow you to pay for eligible expenses with pre-tax dollars.

Health Care Flexible Spending Account (HCFSA)

To participate in the HCFSA, you must actively enroll each year and select an annual contribution amount (between $120 and $3,200) to be deducted from your pay on a pre-tax basis in equal amounts each pay period. This account is available if you are enrolled in the Classic Health Plan option, Kaiser HMO option, or if you have waived Health coverage. It’s important that you select your contribution amount carefully because IRS regulations require that you forfeit any HCFSA funds that aren’t used to reimburse eligible expenses by the filing deadline.

Health Savings Account (HSA)

The Health Savings Account, administered by Fidelity, is a triple-tax advantaged account that you can use to pay for qualified health-related expenses, including copays, coinsurance and deductibles for medical, prescription drug, dental and vision expenses. You are eligible to open an HSA only if you enroll in the Saver HSA option of the Health Plan.

MPC provides HSA contributions to employees who enroll in the Saver HSA Plan option and elect the HSA. Employees enrolled in Employee Only coverage will receive $500 and those enrolled in Employee + Dependent(s) coverage will receive $1000 (if enrolled the entire plan year). Company contributions will be disbursed in equal installments each pay period that you are a participant in the HSA. (Per IRS regulations, participants in the Saver HSA Plan option become eligible to participate in the HSA, beginning the first day of the month on or after their enrollment). Partial year participants will receive a pro-rated Company contribution based on the number of pay periods they are a participant in the HSA. (To receive the full Company contribution you would need to be a participant in the HSA for all 26 pay periods of the year).

For 2024, the IRS limits are:

  • $4,150 for Employee Only coverage ($500 MPC contribution + $3,650 employee contribution)
  • $8,300 for Employee + Dependents coverage ($1,000 MPC contribution + $7,300 employee contribution)
  • Plus an additional $1,000 in catch-up contributions if you are 55 or over.

You manage this account. You can choose to save and invest the money with tax-free earnings or use it to pay eligible expenses during the year, up to your current balance. If you had an HSA with a previous health plan, you can transfer it to your Fidelity HSA.

Your HSA has a triple-tax advantage because:

  • The contributions you make are pre-tax.
  • Any investment earnings are tax-free.
  • Payments from the account for qualified health care expenses are tax-free. HSA funds roll over from year to year and belong to you so you will always have access to these funds. You do not need to submit receipts for reimbursement. However, it’s recommended you save receipts and records in case the IRS requests proof that these funds were used for qualified health care expenses.
Limited Purpose Flexible Spending Account

If you are enrolled in the Saver HSA, you may establish a Limited Purpose Flexible Spending Account (LPFSA) that is limited to paying for eligible dental and vision expenses. As with the Flexible Spending Account, you can elect between $120 to $3,200 in pre-tax dollars per year for your anticipated dental and/or vision expenses. Your FSA contributions are divided evenly throughout the year and deducted from each paycheck before taxes are withheld, but your full election is available for immediate use.

The LPFSA works great with an HSA, since it helps save your HSA dollars for future expenses. Eligible expenses may include: dental and orthodontia care, such as fillings, X-rays and braces, vision care, including eyeglasses, contact lenses and LASIK surgery.

Once you meet your deductible, you can use your funds to pay for all eligible health care expenses. But first, make sure you let Inspira Financial know you met your deductible.

Dependent Care Flexible Spending Account

The DCFSA is administered by Inspira Financial and is available to all full-time/part-time, regular employees (who are not on a leave of absence). The DCFSA allows you to save pre-tax money to help pay for eligible dependent care expenses throughout the year. (The DCFSA cannot be used on medical expenses).

For an expense to be eligible for reimbursement, your expenses must be work-related. This means that your dependents need care so that you can work. If you are on a leave of absence, including parental leave, you will not be able to submit claims for reimbursement for services that occurred during this time, since you are not actively at work. If married, your spouse must be working, unless your spouse is a full-time student, actively looking for work, or unable to care for themself. Claims cannot be submitted prior to the eligible service expense occurring. Contributions are deducted from your paycheck on a per pay basis throughout the year. You will only have access to the amount that has been deducted from your paycheck and must have enough money in your account in order to receive reimbursement. Eligible expenses include but are not limited to; child/adult daycare, before/after school programs, nanny/au-pair fees, care for a disabled person, etc. Any unspent funds not claimed by the filing deadline will be forfeited.

The maximum annual contribution is $2500 if you are married filing a separate tax return; and $5000 if you are single; or married filing a joint tax return. Due to IRS regulations, if you are considered a highly compensated employee*, your contribution limit will be limited to an amount yet to be determined.

For a more detailed information on participation regulations and the DCFSA, please review our 2024 HSA FSA Guide.

*After non-discrimination testing, if it is determined that you are a highly compensated employee, your contribution election will be lowered to an amount yet to be determined. Any such reduction will occur in Q1 of the new Plan Year, or as otherwise determined by the plan administrator.

Tax Savings Account Comparison
Tax Savings Accounts
  Health Savings Account HSA Flexible Spending Account Limited Purpose FSA
Coordinates with which Health Plan option Saver HSA Classic, Kaiser, or Waived Saver HSA
Marathon Petroleum’s contribution amount* Employee Only: $500
Employee + Dependent(s): $1,000
$0 $0
Before-tax contribution limits (includes Company contributions) Individual: $4,150
Family: $8,300

Individuals who will be 55 and older may contribute an additional $1,000

$3,200 $3,200
Use for Health Plan contributions Generally, only if you are age 65 or older No No
Use for medical, dental and vision expenses Yes Yes Dental & Vision Only

post-deductible medical expenses

Portable if you leave Marathon Petroleum Yes No No
When funds are available for use Works like a checking account – you must have enough money available to cover the expense Immediately Immediately
Debit card Yes Yes Yes
Potential to earn investment returns Yes No No
Rollover from year to year Yes $640 carry over $640 carry over
Enrollment without participation in Marathon sponsored health plan No Yes No

*The Company Contribution is prorated based on the number of pay periods you are a participant in the HSA.

Dependent Care Flexible Spending Account
Before-tax-contribution limits Married filing a separate tax return: $2,500 per year Single; or Married filing a joint tax return: $5,000 per year*
Eligible Expenses Child or adult daycare, preschool, before/after school programs, day camp, babysitting/nanny expenses, care for a relative who resides with you, who is incapable of self-care. (The DCFSA cannot be used for medical expenses.)
Portable if you leave MPC No
When funds are available for use Works like a checking account - you must have enough money available to cover the expense
Debit Card No
Grace Period After the plan year ends (Dec. 31), you have until March 15, 2025, to incur eligible expenses and use the remainder of your funds.
Deadline to Submit Claims May 31, 2025
Election Changes Not permitted mid-year. Changes can only be made with a qualifying life event or during Annual Enrollment.

*After non-discrimination testing, if it is determined that you are a highly compensated employee, your contribution election will be lowered to a limit yet to be determined and you will be notified. Any such reduction will occur in Q1 of the new Plan Year, or as otherwise determined by the plan administrator.

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