HEALTH CARE FLEXIBLE SPENDING ACCOUNT
The Health Care Flexible Spending Account (HCFSA) is administered by WageWorks. At any time during the year, you can be reimbursed from your HCFSA up to the full amount you elect to contribute for the whole year — even if you do not have that much in your account yet. Paying for expenses like a deductible or a costly prescription is worry free when you save for them using the HCFSA.
How You Benefit From the HCFSA
You pay no federal income taxes or Social Security taxes on the money you contribute to the HCFSA, so you pay lower overall taxes on your income. And, the HCFSA reimburses you tax-free for eligible health care expenses that are not paid by insurance such as deductibles, coinsurance, and copays for medical, dental, vision, and hearing care. To see a full list of eligible expenses, click here.
Using Your Debit Card
If you go to a provider who doesn’t meet the requirements, you will pay your expenses out-of-pocket at the time of service and file a claim for reimbursement from your HCFSA. According to IRS guidelines, WageWorks may verify that all debit card purchases are eligible expenses. If you receive a Request for Documentation letter from WageWorks, you must provide documentation (such as an EOB) for the transactions listed in the letter in order to keep your card active.
How the HCFSA Works
- Carefully estimate your future health care expenses.
- Decide the annual amount you want to contribute to the account — from $130 to $2,750. Divide by the remaining pay periods in the year to get your per-pay-period contribution.
- The maximum contribution limit for the 2023 plan year is $2,850.
- You can use your debit card, file a claim via the EZ receipts app or online at www.wageworks.com when you have eligible health care expenses.
- You will be reimbursed up to the amount you elected to contribute for the year.
- According to IRS rules, the account operates on a use-it-or-lose-it basis, meaning that you forfeit any unreimbursed amounts left in your account.
- The 2021 claim-filing deadline is December 31, 2022, for eligible expenses you have between January 1, 2021 and December 31, 2022.
- The 2022 claim-filing deadline is March 31, 2023, for eligible expenses you have between January 1, 2022 and March 15, 2023.
- The 2023 claim-filing deadline is March 31, 2024 for eligible expenses you have between January 1, 2023 and March 15, 2024.
Ways to Submit Claims
Submit claims to WageWorks using any of the following methods:
- through the website (www.wageworks.com)
- through the mobile app (EZ Receipts)
- Fax or Mail (Paper Claim Form)
- When completing registration on www.wageworks.com, you will be asked for your ID Code in the self-identification process. Please use the last four digits of your Social Security Number.
- Visit the Support Center at www.wageworks.com
- Call customer service
- 1-877-MyTHRLink (1-877-698-4754) prompt 6, press 6