DRIVEN BASE

FSA & HSA Tax Savings Accounts

Tax Savings Accounts Overview

Flexible Spending Accounts (FSA)

A Flexible Spending Account (FSA) allows you to save for eligible health care and dependent care expenses incurred during the plan year. To help reduce your tax liability, contributions are deducted from your paycheck on a pre-tax basis and tax-free reimbursements are paid to you for eligible expenses. Businessolver is DENSO’s FSA administrator who tracks your contributions and reimbursements and provides a debit card (see note below regarding Limited Use FSA Debit Card).

You can track your account using the MyChoice mobile app or through our Benefitsolver site myDENSObenefits.com or by calling the MyChoice Accounts Help Line at 888-305-6975.

IMPORTANT NOTE: The MyChoice FSA debit card is accepted at pharmacies and day care providers ONLY. You can still use your FSA funds to pay for other qualifying expenses.  Request reimbursement for these expenses by filing a claim or set up direct payment to your provider. 

Go to myDENSObenefits.com or the MyChoice mobile app for details. Read the Tax Savings Plan section in the 2025 DENSO Benefits Guide for more details about eligibility, contribution limits, run-out periods, and carry-overs.

Health Savings Accounts (HSA)

If you enroll in the OpenRoad high-deductible medical plan, you may also be eligible to open a Health Savings Account (HSA). The HSA allows you to set aside money on a pre-tax basis and then use the funds for eligible healthcare expenses. Unlike some FSAs, any money left in your account at the end of the year rolls over to the following year. In fact, the HSA offers a way to save for future healthcare expenses because you can invest the value of your HSA so your account can grow over time.

You can track your account using the MyChoice mobile app or through our Benefitsolver site myDENSObenefits.com or by calling the MyChoice Accounts Help Line at 888-305-6975.

Go to myDENSObenefits.com or the MyChoice mobile app for details. Read the Tax Savings Plan section in the 2025 DENSO Benefits Guide for more details about eligibility, contribution limits, eligible expenses, and portability. 

Important HSA Notes

~  New OpenRoad participants must Agree to the Terms and Conditions to initiate the opening of a MyChoice Account in Benefitsolver when they enroll in benefits to make pre-tax payroll contributions as well as receive the company contribution in 2025.

~  Existing OpenRoad participants must attest your eligibility (confirm you meet the requirements in Benefitsolver during Open Enrollment to be eligible to receive an annual company contribution in 2025. You must set your individual HSA contribution each year (either during Open Enrollment or at any time during the plan year).

~  If you do not wish to contribute to your HSA but want the company contribution you must still attest your eligibility for an HSA in Benefitsolver.

~  OpenRoad participants who do not contribute to an HSA may enroll in a Health Care FSA. However, Health Care FSA participants are not eligible for the HSA company contribution. 

~ You may be able to invest a portion of your HSA using the MyChoice Accounts mobile app. You are required to keep a $1,000 balance in your HSA and there is a $2.50 administration fee to participate in the HSA Investment Program. In order to close the investment account you must contact Benefitsolver.

~  You can elect beneficiaries for your HSA. Complete the Beneficiary Designation Form (linked above, also available at myDENSObenefits.com in the Reference Center) and email to HSAcicenter@umb.com or by standard mail (address is on the form). For questions about how to complete the Beneficiary Designation Form, call UMB directly at 866-520-4472. Other questions about your HSA can be directed to the MyChoice Accounts Help Line at 888-305-6975.

~  To be eligible for an HSA in 2025, you must satisfy all of the following requirements:

1. Enrolled in the OpenRoad medical plan in 2025.
2. Not enrolled in a Health Care FSA in 2025.
3. Not enrolled in Medicare.
4. Not eligible to be claimed as a dependent on someone else’s tax return.
5. Not covered by any of the following insurance or accounts (for more details, see IRS Publication 969):
      - Spouse or domestic partner’s non-Qualified High Deductible Health Plan (non-QHDHP) health plan
      - You or your spouse’s health care Flexible Spending Accounts (FSA) TRICARE or TRICARE for Life
      - You or your spouse’s/domestic partner’s Health Reimbursement Accounts (HRA)
      - Medical coverage by a non-QHDHP
      - Any Veterans Affairs benefits used within previous three months
      - National health insurance provided by foreign countries while an expatriate