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Flexible Spending Account
WEX
(866) 451-3399
customerservice@wexhealth.com
https://www.wexinc.com/insights/benefits-toolkit/
The FCPS FSA medical expense contract has been amended to allow eligible over-the-counter (OTC) items to be purchased without a prescription. This amendment was made retroactive to January 1, 2020 in accordance with the CARES ACT (COVID-3 Stimulus Bill). You may use the WEX database to search for eligible items at: https://www.wexinc.com/insights/benefits-toolkit/eligible-expenses/
WEX is the administrator of the Flexible spending accounts (FSAs), which allows an employee to contribute on a pretax basis to an account that he or she can then use to pay for qualifying expenses. Depending on the type of FSA, those expenses might include childcare or medical costs that are not covered by health, dental or vision insurance. At the end of the plan year, any unspent money in an FSA is forfeited, with the exception of the health care flexible spending accounts that permits employees to rollover up to $500 per plan year to the next year. You must re-elect your FSA each plan year and cannot make changes to your election unless you have a “qualifying life event” once your election has been made for the plan year.
Evelyn Davis
HR Associate I
(301) 644-5115
One of the many benefits of being employed with Frederick County Public Schools (FCPS) is that you have access to a Cafeteria Plan established by FCPS. A Cafeteria Plan allows you to pay for out-of-pocket medical expenses. The major advantage of FCPS’s Cafeteria Plan is that, by participating, you save money by paying for benefits you would normally pay for but you avoid having to pay Federal Income and Social Security taxes. If you do participate in the Cafeteria Plan you would not be eligible for a Federal income tax credit on your next tax return.
A Health Flexible Spending Account (FSA) allows you to get reimbursed for qualified medical expenses with pre-tax funds (see Section 213D and Section 105 of the Internal Revenue Code for list of eligible expenses. You cannot use your FSA for expenses that have been paid by your medical insurance plan.)
The minimum election amount is $100 and the maximum annual election amount is $2,850.
Elections
It is important for you to decide what benefits you will need for each Plan year. Your decision should be carefully made based on your expected health expenses for the coming year. Unless a qualifying “change in status” event occurs, you will not be able to change your elections after the first month of the Plan year. To see a list of the qualifying “change in status” events please see your Summary Plan Description.
Run-out Periods for Submitting Claims is as follows:
You must submit your claims for reimbursement to WEX per the schedule below timely or you can not be reimbursed per IRS guidelines.
| Run out period for active employees: | 90 days after plan year ends (last day to submit claim is Sept. 28) |
| Run out period for terminated employees: | 90 days after your termination date |
Rollover
Under the new IRS regulations, employees will be able to rollover up to $570 of their Health FSA funds from one Plan year to the next. The rollover funds will be available to employees for one additional year. Any amount rolled over will not affect the election amount for the new Plan year. Any funds above $570 left over after the 90 day runout period will be forfeited
The Dependent Care Flexible Spending Account (DCAP) allows you to be reimbursed for qualified dependent day-care expenses with pre-tax funds. The maximum annual election amount is $5000 (married filing jointly or head of household) or $2500 (married filing separately). To be eligible for reimbursement you will need to provide a statement from the service provider with the following information: name, address, taxpayer identification number (in most cases), and incurred expense amount. Please see the Summary Plan Description for dependent eligibility requirements.
Reimbursement
Throughout the Plan year you can submit for reimbursement for qualified medical and dependent care expenses in the following ways: fax (forms available at https://www.wexinc.com/solutions/benefits ), email, online, or mobile application. Employees may also pay for their qualified medical expenses directly from their FSA with the Discovery Benefits debit card. See the SPD for further details. Expenses are “incurred” when the service has been provided. The reimbursement requirements will be listed on the reimbursement claim forms.
Elections
It is important for you to decide what benefits you will need for each Plan year. Your decision should be carefully made based on your expected health expenses for the coming year. Unless a qualifying “change in status” event occurs, you will not be able to change your elections after the first month of the Plan year. To see a list of the qualifying “change in status” events please see your Summary Plan Description.
Run-out Periods for Submitting Claims is as follows:
You must submit your claims for reimbursement to WEX per the schedule below timely or you can not be reimbursed per IRS guidelines.
| Run out period for active employees: | 90 days after plan year ends (last day to submit claims is Sept. 28) |
| Run out period for terminated employees: | 90 days after your termination date |
Resources
- WEX Benefits Login
- WEX Reimbursement Claim Form
- WEX Benefits Recurring Dependent Care Request Form
- WEX Status Change Form
- WEX Benefits Card
- Medical FSA Employee Handout
- Benefits and Technology Resources Employee Handout
- Contribution Limits IRS Regulations Employee Handout
- Dependent Care FSA Employee Handout and Recurring Dependent Care Request Form
- Dependent Care FSA Contribution Limits & IRS Regulations
- Medical FSA and Dependent Care FSA
- Flexible Spending Accounts FAQ
- Benefits Mobile App