Provider: WEX
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Flexible Spending Accounts (FSA) – Saving Money
Flexible Spending Accounts (FSAs) allow you to pay for eligible health care and dependent care expenses using tax-free dollars. There are two types of FSAs—the Health Care FSA and the Dependent Day Care FSA:
IMPORTANT: If you enroll in the HDHP or your spouse is enrolled in an HDHP and contributions are made to the Health Savings Account (HSA), you cannot enroll in our Health Care FSA.
Dependent Day Care FSA Fine Print
- Expenses for dependent day care must be incurred and paid to a vendor, and the vendor’s tax ID or Social Security number must be provided on the claim you submit.
- Dependent Day Care FSAs have annual IRS contribution limits. If enrolling mid-year, consider how much was already contributed in the current year (if any) before making elections. If you over contribute, you may be required to pay taxes on the excess. Speak to a tax advisor with any questions.
- The plan is subject to annual non-discrimination compliance testing, which may result in required adjustments to dependent day care FSA amounts for highly compensated employees.
FSA - FSA EmployeeHandout
FSA - Dependent Care Employee Handout
FSA - Mobile App
Benefits Technology Handout
Questions? Please click on Contacts & Resources for help.