Flexible Spending Accounts

Flexible Spending Accounts (FSAs) allow you to set aside pre-tax dollars to pay for eligible health and dependent care expenses. Each year, you must elect the annual amount you want to contribute to one or both accounts. Your contributions will be deducted pre-tax from your paycheck which can help reduce your taxable income. Effective January 1, 2022, your new FSA administrator is WEX.

Health Care FSA

The Health Care FSA will reimburse you for eligible health care expenses that you, your spouse, and your children incur during the plan year. When you incur an eligible expense, you can use your WEX FSA debit card and/or submit documentation for reimbursement. The maximum annual contribution for 2022 is $2,850.

Note: If you are enrolled in the Cigna HDHP Plan, you are not eligible to participate in the Health Care FSA.

Dependent Care FSA

The Dependent Care FSA lets you use pre-tax dollars to pay eligible daycare expenses for children age 12 and under, or elder dependents who are unable to care for themselves. Care can be provided through live-in care, babysitters, or licensed daycare centers. The maximum annual contribution for 2022 is $5,000.

Note: All benefit eligible employees are eligible to participate in the Dependent Care FSA.

Rules to Keep in Mind

FSAs offer significant tax advantages, but are subject to IRS regulations:

  • All expenses for the Health Care and Dependent Care FSAs must be incurred during the plan year: January 1 through December 31.
  • The IRS has a strict “Use-It or Lose-It” rule for FSAs. At the end of the calendar year, you may roll over up to $570 of unused Health Care FSA funds. Any remaining funds above this amount will be forfeited.
  • Once you enroll in the FSA, you can only change your contribution amount if you experience a qualified life event.
  • Each account functions separately. You cannot transfer funds from one FSA to another.

Auto Substantiation

When employees are using their debit card, if WEX is not able to auto-substantiate the claim required documentation will be requested.  Substantiation requirements can be found here. The below timeline is the standard process for follow up communications when your debit card transaction requires further documentation.  At the 200-day mark, the debit card would be suspended if no documentation has been provided.  However, if at any time in this process flow the transaction is denied, the flow moves to the Denial and Request Repayment step.  

  • Day 1: 1st receipt request 
  • Day 45: 2nd receipt request 
  • Day 105: Overdue notice 
  • Day 200: Denial and Request Repayment 
    • Debit card is suspended overnight 
    • Repayment requested 
  • Documentation for eligible expenses, required by the IRS, includes a receipt containing the following information:
    • Date service was received, or purchase made
    • Description of service or item purchased
    • Dollar amount (after insurance, if applicable)
  • Unacceptable forms of documentation include the following:
    • Provider statements that only indicate the amount paid, balance forward or previous balance
    • Credit card receipts that only reflect a payment
    • Bills for prepaid eligible expenses where services have not yet occurred

FSA Questions?

Questions when enrolled: 1-866-451-3399
Questions before you enroll: 1-844-561-1337
Email a question: customerservice@wexhealth.com
Submit a form: forms@wexhealth.com
Live chat: go to www.wexinc.com, hover over Solutions and select Participants/Employees.

See the benefit summaries for detailed information.