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Flexible Spending Accounts

Flexible spending accounts* enable employees to pay for eligible health (medical, dental and vision) and/or dependent care expenses with pretax dollars, thereby reducing their tax burden.

How It Works

Employees elect a portion of their salary pay into the flexible spending accounts via pretax payroll deductions withheld throughout the calendar year. These dollars are held in an FSA account and are not subject to federal, state or Social Security taxes. Reimbursements are made as employees incur out-of-pocket expenses for qualifying health and/or dependent care services.The amount you elect to set aside will be deducted in equal amounts from your paychecks though the end of the plan year.

Brandeis University flexible spending accounts are managed by a third-party administrator, HealthEquity/WageWorks. You can contact HealthEquity/WageWorks at 1-877-924-3967.

Enrollment

Eligible employees enroll through their Workday new hire benefit task within 31 days from their start date, within 31 days of when you first become eligible for the plan. If you do not enroll when you first become eligible for the plan, you may enroll during the annual open enrollment period (usually held in November) for the Plan Year beginning January 1.

Once you have completed your enrollment in a flexible spending plan in Workday and your election has been approved by the benefits unit, you will need to set up an account with HealthEquity/WageWorks. Your online account will enable you to submit claims for reimbursement and check account balances and claims in process.

Coverage begins 1st day of month that coincides or follows date of hire, new eligibility or January 1 of the plan year following election during open enrollment
Eligible expenses only incurred on or after your effective date
Grace Period – incur expenses through March 15, 2025 for plan year 2024

Contribution Limits

Health Care- Annual Limit = $3,200 for 2024 calendar year
- Individual Maximum - employee and spouse may each contribute up to max (employer allowed)
Dependent Care - Annual Limit = $5,000 for 2024 calendar year
- Family Maxixmum - Married filing jointly $5,000, Married filing individual $2,500 each

Using Funds

Health Care FSA	Dependent Care FSA
Out-of-pocket expenses for medical, dental and vision, such as prescriptions, deductibles, glasses includes spouse and dependent children. Debit card is provided for point-of-sale transactions. Itemized receipts required for claim verification. Full amount of election is available on effective date.	For dependent care services while you and or your spouse are at work or actively looking for work. A qualifying ‘dependent’ may be a child under age 13, a disabled spouse, or an older parent in eldercare. No debit cards - must submit receipts for reimbursement DCFSA funds are only available as you make contributions

Coverage End

Coverage ends last day of employment or eligibility end date or on grace period end date (March 15th) if you do not renew during open enrollment for the following year.

Forfeiture of Contributions

The IRS requires that any funds not used by the end of the grace period must be forfeited. Because of this "use it or lose it" forfeiture requirement, it is essential that you estimate your expected dependent care expenses carefully.

Deadline to Submit Claims

You have four months (April 30th) following the end of a plan year (December 31st) to submit claims for expenses incurred during the plan year or through the end of the grace period (March 15th following end of a plan year) for reimbursement.

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Online Registration Instructions

From the HealthEquity.com homepage select Log In> WageWorks> Employee Registration, click Register link

First-time users will be required to provide the following details to authenticate their accounts:
- First and last name.
- Date of birth.
- Home ZIP code.
- Last four digits of employee ID number. Example: For ID number 10025555, enter 5555. You can find your eight-digit Brandeis ID number in Workday. After logging in, click the icon of the cloud in the upper-right corner of the page and select your name; this will bring you to your profile page. There, you'll find your Employee ID number on the right side of the page, under "Job Details."
Once you have completed the required steps for registration, you will now view your Dashboard.
On your Dashboard, you will find your flexible spending account(s) election(s). You will also see your options for commuter benefits.

Debit Card

The physical card itself is issued for a 3 to 5 year period. They just "reload" it each year you make an election. If you can't find your card or don't have it anymore. You can call member services to get a new one. 877-924-3967 or order through your online account.

Debit Card FAQ

Your HealthEquity® Visa® Debit Card1 is a great way to pay for healthcare expenses – no PIN required! If you’re prompted for a PIN when using your card at your favorite stores, here are some quick tips to get through the checkout line and back on the road to wellness.

When paying with your HealthEquity Visa card, select “credit” if that option is available
If you’re asked to enter a PIN, simply select “credit” to bypass the PIN request and run the card as usual.
If the first two steps don’t result in a successful transaction, let the cashier know that your card does not have a PIN, and they should be able to help.

Health Care FSA Receipts

Simply save your receipt, then upload a copy and submit for reimbursement later. Note that FSA claims always require the same 5 items (but not all receipts list them).

For the fastest reimbursement, make sure your documentation contains the following:

Patient Name
Provider Name
Date of Service
Type of Service
Cost

Whether you use a debit card or upload a receipt, either option makes it super easy to use and spend your healthcare Flexible Spending Account.

You can also use the EZ Receipts app for your phone to snap pictures of your receipts

Helpful Links for Employees

HealthEquity/WageWorks support center

Flexible Spending Account management

Flexible Spending Account savings calculator