FLEXIBLE SAVINGS ACCOUNTS OVERVIEW

FLEXIBLE SAVINGS ACCOUNTS

You can save money on healthcare and dependent care expenses by paying for them with tax-free accounts. Using these accounts effectively will help you take full advantage of their money-saving potential.

A full list of eligible expenses for each type of FSA can be found on the Wex portal.

Eligibility

Eligible
Expenses

Contribution
Limit

Health Care
FSA

Members
enrolled in
the Aetna
PPO, Kaiser
HMO, or
who waive
medical
coverage

Copays,
coinsurance,
deductibles for
medical, dental
and vision
care, as well
as your cost for glasses,
contacts, and
prescription
medications.

$2,750
per year.
Up to $550
may be carried
over to the next
plan year.

Limited
Purpose FSA

Only
members
enrolled in
the Aetna
Saver Plan

Dental
and vision
expenses.

$2,750 per year.

Up to $550
may be carried
over to the next
plan year.

Dependent
(Day Care)
FSA

Open
eligibility, you
do not have
to be enrolled
in medical
coverage
to elect

Child day care,
after school
programs, and
elder care.

$5,000 per
year ($2,500
if married and
filing separate
tax returns).

Use it or lose it.

Commuter
Benefits

Open
eligibility

Mass transit,
such as bus,
subway or
train. Parking
at or near
work and/or
transportation
service sites, as
well as park and
ride expenses

Up to a monthly
maximum of
$270.

Remember...

  • You must enroll in the FSAs each year; your FSA elections do not automatically roll over from year to year.
  • Your FSA elections are in effect from January 1 to December 31; you have until March 31 of the following year to submit claims for reimbursement.

For more information about FSAs, visit www.wexinc.com or call (866) 451-3399.