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 | Contribution | |
Health Care | Members | Copays, | $2,750 |
Limited | Only | Dental | $2,750 per year. Up to $550 |
Dependent | Open | Child day care, | $5,000 per Use it or lose it. |
Commuter | Open | Mass transit, | Up to a monthly |
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.