Flexible Spending Accounts (FSA)

Flexible Spending Accounts (FSAs), administered by WEX, allow you to set aside pre-tax dollars to pay for eligible health and dependent care expenses. As an eligible employee, you may choose to enroll in one or both Flexible Spending Accounts. Each year, you must elect the annual amount you want to contribute to each account. Your contributions will be deducted pre-tax from your paycheck which can help reduce your taxable income.

Health Care FSA

IRS Annual Maximum: $3,300

Your Health Care FSA will reimburse you for eligible expenses that you, your spouse/domestic partner, and your children incur during the plan year. The entire annual amount you elect can be used at any time during the plan year even though your contributions are deducted each paycheck. When you incur an eligible expense, you can use your WEX debit card or pay out-of-pocket and submit a reimbursement request with documentation.

Covers eligible expenses for you, your spouse/domestic partner, and children.
Use the full annual amount anytime during the plan year.
Eligible expenses include copays, coinsurance, deductibles, orthodontia, and glasses/contacts. For a complete list, refer to IRS Publication 502: Medical and Dental Expenses, available at www.irs.gov/publications .

Dependent Care FSA

IRS Annual Maximum: $5,000

Your Dependent Care (or daycare) FSA lets you use “before-tax” dollars to pay daycare expenses for children living with you.

Covers daycare expenses for children 12 and under, or older dependents who cannot physically or mentally care for themselves.
Care must be necessary for you and your spouse to work.
Care may be provided through live-in care, babysitters, or licensed daycare centers.
Reimbursement only up to the amount available in your account after payroll contributions.
It's a $5,000 annual maximum per household.