Flexible Spending & Health Savings

WEX - formerly Discovery Benefits

Customer Service 866.451.3399, customerservice@wexhealth.com

FSA (Flexible Spending Account)
HSA (Health Savings Account)

Annual Contribution Limits

Healthcare FSA $2,750
Dependent Care FSA $5,000
Health Savings Account $3,600 single
$7,200 family

There are two types of FSAs:

1. Healthcare FSA used to reimburse out-of-pocket medical expenses incurred by you and your dependents.

Use your healthcare FSA for:

  • Major dental work or orthodontia
  • Deductibles and Copays for medical, rx, dental and vision
  • Qualified out-of-pocket healthcare expenses not reimbursed by a medical plan

2. Dependent care FSA used to reimburse expenses related to the care of your eligible dependents while you and your spouse work. Use your dependent care account for:

  • Care or services for children under 13 years,  including before or after school care
  • Elder Care

Eligible and Ineligible Expenses

The IRS determines what expenses are eligible and ineligible. You can view eligible and ineligible expenses in the link below. If you are unsure about whether an expense is eligible or not, contact Discovery Benefits at 866.451.3399.

Eligible Medical Expenses

If you do not use all the money in your FSA for expenses incurred, you will forfeit the unused balance with the exception of $500.  The medical FSA has a rollover feature which will rollover up to $500 remaining in your medical FSA to the next plan year.  Amounts over $500 will be lost. 

Expenses must occur within the plan year. Claims for the 2017-2018 Plan Year must be filed by September 30, 2018. Claims for the 2018-2019 Plan Year must be filed by September 30, 2019.

Health Savings Account

A Healthcare savings account (HSA) acts similar to the FSAs except the money is yours to keep.  There is no "use it or lose it" feature.

  • You must enroll in TRS ActiveCare 1-HD to participate.
  • You cannot contribute to both an HSA and an FSA at the same time.
  • Unused money rolls over to next year. There is no limit to how much money you can have in your HSA at any time.
  • You may also choose to invest the money for the long-term.
  • You can continue to use the funds in your HSA for qualified medical expenses, even if you are no longer enrolled in a qualified plan.
  • If you continue to be enrolled in a qualified HDHP, you can continue to contribute to your HSA.
  • If you are no longer enrolled in a qualified HDHP you may not contribute to your HSA.

If you are considering enrolling in the HSA contact Discovery Benefits at 866.451.3399.