The Health Care Flexible Spending Account (FSA) can be used to help with some medical expenses. The account will be administered by BenefitWallet, and you will be able to file your claims, track your accounts and find helpful tools for managing your accounts online.

WSI provides associates several opportunities to focus on their financial wellness and help you plan for and manage health care expenses. Below is a comparison overview of all the accounts available to you through your WSI benefit.

Comparison of Accounts

Type

Eligible Expenses

Other Items

General Purpose FSA

Medical, dental and vision

Individuals enrolled in the High Deductible HSA are not eligible

Dependent Care Flexible Spending Account

Work-related dependent care expenses

Available to any individual enrolled in a WSI-sponsored health plan with dependents aged 13 and under

Limited-Purpose FSA

Dental and vision

Only available to individuals enrolled in the High Deductible HSA plan

Health Savings Account

Medical, dental and vision

Only available to individuals enrolled in the High Deductible HSA plan

The general purpose of an FSA is to allow you to use pretax dollars to pay for eligible out-of-pocket eligible health care expenses. For the 2022-2023 plan year, you can set aside $2,850 per calendar year pretax in a Health Care FSA.

You can enroll in the BenefitWallet FSA and set your contribution amount only during Open Enrollment (unless you experience a Qualifying Life Event such as birth or marriage).

Plan Your Health Care FSA Contribution Carefully

The Health Care FSA isn’t quite “use it or lose it.” You can roll over up to $550 in unused funds at the end of the plan year. Keep in mind: The “use it or lose it” rule still applies to any Health Care FSA funds greater than $550.

If you become ineligible for WSI benefits, your Health Care FSA funds are forfeited at the end of the month when your status change occurs, unless you elect COBRA coverage.

Health Care FSA Eligible Expenses

There are hundreds of eligible expenses for tax-free purchase with your Health Care FSA, including doctor’s office copays, health insurance deductibles, prescription drugs, dental care, orthodontia and vision care. For a complete list of eligible expenses, please visit irs.gov.

Here are some eligible expenses to consider:

  • Doctors, Labs and Hospitalization: doctor’s office visits and procedures, drug addiction treatment, ambulance services, fertility treatments, health plan deductibles and copays, hospital services, laboratory fees and more
  • Prescriptions and Medical Devices: prescription drugs, over-the-counter medications prescribed by a doctor, artificial limbs, bandages, blood sugar test kits, breast pumps and lactation aids, crutches, hearing aids and batteries, insulin, nicotine cessation programs, walkers, wheelchairs and more
  • Dentists and Orthodontics: dental treatments, dental X-rays, extractions, teeth cleanings, tooth removal, braces, dentures/artificial teeth and more
  • Alternative Care and Special Services: acupuncture, alcoholism treatment, chiropractor, drug addiction treatment, physical therapy, psychiatric care for mental health, special education for learning disabilities, speech therapy and more
  • Eye Doctor, Glasses and Contacts: vision examinations, eyeglasses, eye surgery, Lasik/laser surgery, contact lenses, saline solution and more

For more information about your FSA, access these helpful BenefitWallet resources: