Health Savings Account (HSA)
An HSA can be used to pay for eligible medical, dental, and vision expenses. You must be enrolled in the Consumer Plan to contribute to an HSA.
View Understanding the Health Savings Account with the Consumer Plan to learn more.
Triple tax savings
1. You pay no FICA or federal taxes on the money you invest in your account or on the earnings. In most states1, you avoid state taxes on the money, too.
2. You can use the money to pay for qualified medical, prescription drug, dental and vision expenses—tax free.
3. You can start investing when your balance reaches $2,000, and any interest or investment income you earn on your account is tax free.
Contribution limits & company contributions
If you contribute to the HSA, Caleres also contributes2:
| Coverage level | 2024 Limit | What you can contribute | What Caleres contributes |
|---|---|---|---|
| Associate-only | $4,150 | $3,760 | $390 |
| Family | $8,300 | $7,520 | $780 |
Note: If you’ll be age 55 or older this year, you can contribute an additional $1,000.
1 HSA contributions are subject to state taxation in Alabama, California and New Jersey.2 To get the Caleres contribution, you must contribute a minimum $1 per pay period to your HSA.
Flexible Spending Accounts (FSA)
Contribute pre-tax to an FSA to pay for eligible health and dependent care expenses.
Important: Any unused FSA funds are forfeited each year. You have until March 31, 2025, to submit claims incurred through December 31, 2024. You will forfeit any unused 2024 funds as of April 1, 2025.
Health Care FSA
You can contribute up to $3,200 in 2024 to pay for eligible medical, dental, and vision expenses. If you’re enrolled in the Consumer Plan, you’ll have a “limited purpose” account that can only be used for eligible dental and vision expenses.
The entire annual contribution amount is available the day your coverage starts.
Dependent Care FSA
You can contribute $290 – $5,000 in 2024 to pay for dependent care services that allow you and your spouse/domestic partner to work or attend school full time. Eligible dependents include:
- Your children under age 13
- An incapacitated older child
- An incapacitated spouse/domestic partner or dependent parent
Note: The Dependent Care FSA is not “preloaded.” That means you can only use the funds as they become available each pay period.
HSA vs. Health Care FSA: Which is right for you?
Both the HSA and Health Care FSA both allow you to set aside pre-tax dollars to pay for eligible medical, dental, and vision expenses.
Here are some key differences to help you decide which is best for you:
| HSA | Health Care FSA |
|---|---|
|
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Commuter Benefits
You can use pre-tax dollars to pay for eligible commuting expenses, such as public transit and parking. Free parking is available at certain Caleres locations.
You can set aside up to:
- $315 per month for transit (train, bus, subway, ferry)
- $315 per month for parking
You can pay for expenses with a pre-paid debit card or submit for reimbursement through the WEX website or app for iOS or Android.
Note: When you first sign up, your account will be available the 1st of the following month. You can use the funds available in your account after each pay period deduction has been posted.
Disclaimer for opening a WEX account
Regarding the verification process with WEX, in accordance with the USA PATRIOT Act, Federal law requires all financial institutions to obtain, verify, and record information that identifies each individual or entity opening an account.
When you open an account, you should receive a letter from WEX asking for your name, address, Social Security or tax identification number, date of birth (if applicable), and other information that will allow WEX Bank to identify you within 60 days.
If unsuccessful in receiving valid identify verification documents within 60 days, the pending funds will be returned and the account will be closed. You can contact WEX directly to verify your information by calling 1-866-451-3399.