Flexible Spending Account (FSA)

WHAT IS AN FSA? An FSA is a Flexible Spending Account (FSA) that allows you to set aside money from your paycheck before income taxes (Federal, Social Security, Medicare, state, and local taxes, if applicable) are withheld. This money is available to pay for eligible expenses, such as medical deductibles and copayments, prescriptions, dental expenses, eyeglasses, contact lenses and other health-related expenses that are not reimbursed by your health plan.
HOW DOES IT WORK? You decide how much to contribute to your Health FSA on a plan year basis, up to the maximum allowable amount. Your annual election will be divided by the number of pay periods and deducted evenly on a pre-tax basis from each paycheck throughout the plan year. You must enroll in the FSA each year. Elections do not carry over year-over-year.
CLAIM FILING AND REIMBURSEMENT Your FSA administrator is WEX. To be reimbursed for your FSA expense, you must have an itemized receipt. To submit claims for reimbursement, simply complete a claim form, include a bill or itemized receipt from the provider, and submit this information for reimbursement.

  • Be sure to fund the account wisely as Health FSAs are subject to a “use it or lose it” rule; however, you may roll-over up to $640 year-over-year. Any funds above this amount will be forfeited.
  • You cannot take income tax deductions for expenses you pay with your Health FSA &/or Dependent Care FSA.
  • You cannot stop or change contributions to your FSA during the year unless you have a change in family status consistent with your change in contributions.

The 2024 Annual Health FSA Maximum Contributions Limit is $3,200.
To see a full list of FSA eligible items, log in to the WEX Benefits website.

Dependent Care Flexible Spending Account (DFSA)

WHAT IS A DEPENDENT CARE FSA? This is a pre-tax benefit account used to pay for eligible expenses for dependents under age 13 or to care for a disabled spouse or dependent that allows you – or you and your spouse – to work.
DEPENDENT CARE FSA CONTRIBUTION LIMITS Under the Dependent Care FSA, if you are married and file a joint return, or if you file a single or head of household return, the annual IRS limit is $5,000. If you are married and file separate returns, you can each elect $2,500 for the plan year. You and your spouse must be employed, or your spouse must be a full-time student to be eligible to participate in the Dependent Care FSA.
CLAIMS REIMBURSEMENT Login to your WEX member account, complete the reimbursement form and include appropriate documentation.

  • Be sure to fund the account wisely as funds are “use it or lose it.”
  • You must enroll in the dependent care FSA prior to the start of the plan year or during open enrollment (unless you experience certain qualifying life events).
  • You may have a Health Savings Account (HSA) and a Dependent Care FSA.
  • The following contribution limits apply based on tax filing status:
    • Single: $5,000 maximum
    • Married filing separate: $2,500 maximum
    • Married filing jointly: $5,000 maximum
      • Total of any contributions by both towards the maximum
      • Example: Spouse 1 @ $1,000, Spouse 2 @ $4,000
  • Save your receipts for each eligible expense you submit for reimbursement. Receipts should include:
    • Name (who received service)
    • Provider name (provider that delivered service)
    • Date(s) of service
    • Type of service
    • Cost of service