Flexible Spending Accounts
*UPDATE: ANNOUNCEMENT: Beginning January 1, 2022, the administrator of our Flexible Spending Accounts (FSAs) and Health Reimbursement Account (HRA) is changing to Optum Health. Employees can submit manual claims for reimbursement to Discovery Benefits/WEX for FSA expenses incurred in 2021 during the run-out period between January 1 and April 15, 2022. At the end of the 2021 run-out period, any unspent FSA balances from 2021 will be transferred from Discovery rolled over to Optum Health.
For questions regarding your account, you must contact Wex/Discovery Benefits at 1-866-451-3399 because they are managing this program. HR does not have access to this data.
Optum Health will replace our current administrators, Discovery Benefits/WEX Health (for Health Care and Dependent Care FSAs) and HealthEquity (for the HRA).
Here’s what this change to Optum Health will mean to you:
- If you elect to participate in an HRA or FSA for 2022, you will receive a new Optum Health debit card. Use your new Optum Health card for any expenses incurred on or after January 1, 2022.
- Your Discovery Benefits and HealthEquity debit cards will be deactivated on December 31, 2021. However, you can still submit manual claims for reimbursement to Discovery Benefits for FSA expenses incurred in 2021 during the run-out period between January 1 and April 15, 2022. Manual claims can be submitted for reimbursement to HealthEquity for HRA expenses incurred in 2021 during the run-out period between January 1 and March 31, 2022.
- At the end of the 2021 FSA and HRA run-out periods, any unspent HRA or FSA balances from 2021 will be transferred from Discovery and HealthEquity and rolled over to Optum Health.
- The 2021 rollover balances will then be added to your 2022 account balance with Optum Health and accessible to you on or around May 1, 2022
Review the Dependent Care FSA Updated Legislation
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 from the prior year will 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.
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 $10,500.
Employees with any unused amounts in their 2020 health and/or dependent FSAs will have the unused 2020 amount rolled into a 2021 health and/or dependent FSA account. Wex/Discovery manages this program and 2020 rollover funds will be available for qualifying expenses and/or reimbursements at the end of April. For questions regarding your account, you must contact Wex/Discovery Benefits at 1-866-451-3399 because they are managing this program. HR does not have access to this data.
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.
Wex/Discovery Benefits Contact Information
Customer Service: 1-833-225-5939
Click to view customer services instructions for retirees.