FLEXIBLE SPENDING ACCOUNTS OVERVIEW

FLEXIBLE Spending ACCOUNTS

Flexible Spending Accounts help you pay for eligible out-of-pocket expenses. These pre-tax contributions can be used for medical, dental, vision, and dependent care expenses. You can use these accounts to pay for upfront expenses or for reimbursement. Using these accounts effectively will help you take full advantage paying for your eligible out-of-pocket expenses.

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.

$3,050
per year.
Up to $610
may be carried
over to the next
plan year.

Limited
Purpose FSA

Only
members
enrolled in
the Aetna
Saver Plan.

Dental
and vision
expenses. Also, non-preventive medical expenses after deductible has been met.

$3,050 per year.

Up to $610
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, train, or ride sharing. Parking
at or near
work and/or
transportation
service sites, as
well as park and
ride expenses.

Up to a monthly
maximum of
$300.

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.

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