Flexible Spending Accounts

WEX

Flexible Spending Accounts, administered by WEX, offer a smart way to stretch your dollars by setting aside pre-tax funds to pay for eligible healthcare and dependent care expenses.

Each plan year (July 1 – June 30), you must elect the annual amount you want to contribute to each account. Your contributions will be deducted pre-tax from your paycheck which helps reduce your taxable income.

General Purpose Health Care FSA

With the General Purpose Health Care FSA, you can get reimbursed for eligible medical, dental, and vision care expenses incurred during the plan year.

Contribution Limit: $3,050 (per plan year)

Limited Purpose Health Care FSA (also called an HSA-Compatible Health Care FSA)

With the Limited Purpose Health Care FSA, you will only get reimbursed for dental and vision care expenses incurred during the plan year. However, you will retain your eligibility to contribute to a Health Savings Account (HSA) if you are enrolled in any qualified High-Deductible Health Plan (HDHP).

Contribution Limit: $3,050 (per plan year)

Dependent Care FSA

You can use the Dependent Care FSA to contribute a minimum of $120 per plan year (and up to $5,000 per year) of pre-tax dollars for child day care and elder care expenses while you work. 

Examples of eligible care expenses include:

• Day care and babysitter costs
• Nursery school
• Before and after-school programs
• Summer day camps

Refer to IRS Publication 502 and 503 for a complete list of eligible expenses.

PLEASE NOTE: You can only use these funds to pay for eligible dependent day care expenses that allow you and your spouse or civil union partner* to work. Dependent Care FSA funds are not for your dependents' healthcare expenses.    

*You must be able to claim your civil union partner/civil union partner's child(ren) as tax dependents.