Flexible Spending Accounts

 The university offers Health Care and Dependent Care Flexible Spending Account (FSA) options administered by Wex/Discovery Benefits.

Not sure exactly what a FSA is? Check out FSA 101, a great introductory video provided by Wex/Discovery Benefits. Basically, flexible spending accounts provide pre-tax dollars to be used toward medical, dental, vision, pharmacy, and daycare expenses. This is a savings to you and adds extra money in your pocket. Flexible spending accounts do have a "Use-it-or-lose-it" provision, meaning any unspent money at the end of the grace period of March 15 must be forfeited.

Health Care Flexible Spending Account

The Health Care (FSA) annual employee contributions are available to use beginning January 1, 2021. You may use these funds for you and your dependents. The maximum annual employee contribution limit for a Health Care Flexible Spending Account (FSA) is $2,750.

View Eligible Expenses

Dependent Care Flexible Spending Account

The Dependent Care (FSA) annual employee contributions accumulate on a per pay period basis.  You may use these funds to reimburse you for daycare and children's camp expenses. The maximum annual employee and household contribution limit for Dependent Care FSA is $5,000.

View Eligible Expenses

Grace Period

The university 2020 FSA plan year has a grace period that extends to March 15, 2021.  During the Grace Period, you can continue to incur claims and use any remaining balance in your 2020 Health Care FSA or your Dependent Care FSA. You then have until April 15, 2021 to submit final claims for reimbursement from your 2020 balance.

Additional Resources

Wex/Discovery Benefits has a lot of great resources for participants. The Wex/Discovery Benefits website offers guides, calculators, etc. You can also check out some helpful information listed below.

Discovery Benefits Mobile App Video

Discovery Benefits Out-Of-Pocket Reimbursement Form

Wex/Discovery Benefits Contact Information

Customer Service: 1-833-225-5939

Website: https://www.wexinc.com/t1/

Click to view customer services instructions for retirees.