Qualified medical expenses hsa qualified medical expenses are defined by irs code, section 2d and include amounts paid for the diagnosis, cure, mitigation, treatment or prevention of disease for the purpose of affecting any structure or function of the body. If you are currently participating in a highdeductible health plan hdhp and are contributing to a health savings account hsa, you may also participate in a limited purpose fsa. Hsaqualified medical expenses are defined by irs code, section 2d and include amounts paid for the diagnosis, cure, mitigation, treatment or prevention of disease for the purpose of affecting any structure or function of the body. Combined with your companys highdeductible health plan, a wageworks hsa gives you an easy, safe way to lower your healthcare costs today while saving money for future healthcare expenses. With this pretax benefit account, you can take advantage of the longterm savings. Eligible expenses include health plan copayments, dental work and orthodontia, eyeglasses and contact lenses, and prescriptions. Fsa eligible health care expenses below is the list of items typically covered by a standard fsa. When accessing this site for the first time, you will be required to complete our registration process.
Comparison of health reimbursement account hra, health savings account hsa and health care flexible spending account fsa 2020 hra hsa fsa eligibility requirements enrolled in the health account plan enrolled in the basic or core plan and you must meet specific governmentregulated eligibility requirements in irs publication. Proprietary and confidential page 3 wageworks, inc. The health flexible spending account, administered for uc by wageworks login required, formerly conexis, is a voluntary program established under internal revenue code irc section 105 that lets you pay for eligible health care expenses not covered by your insurance through pretax salary reductions eligibility. Form health savings account direct transfer wageworks. Am i eligible for the ppo plus hsa plan, including the health savings account, if i am covered under medicare. The convenient wageworks healthcare card associated with your account can be used to pay for hundreds of eligible healthcare products and services for you, your spouse, and your dependents. You can view a comprehensive list of eligible expenses by logging into your wageworks account. Hsa contributions are deductible from gross income. Here it is the mostcomprehensive hsa eligibility list available on the web. This list identifies the eligibility of some of the most common. You must be an eligible individual to qualify for an hsa. If you elected a high deductible health plan hdhp with a health savings account hsa as your health plan election for 2020, your wageworks debit card will shut off on december 31, 2019.
A wageworks health savings account hsa is like a 401 k for healthcare. Health savings accounts hsa for participants in healthflex. There are thousands of eligible expenses for taxfree purchase with a health savings account hsa, flexible spending account fsa, and health reimbursement arrangement hraincluding prescriptions, doctors office copays, health insurance deductibles, and coinsurance. Pay many of your eligible health care and dependent care expenses online from your medical or dependent care fsa.
You have no pay me back elections in your activity history. Menstrual care products now considered a qualified medical expense through an fsa, hra or hsa. Child qualifying child per standard irs definition, for. Verify a card transaction after the purchase if wageworks is unable to determine that your card was used to pay for eligible health care products and. Hsa eligibility you may be eligible to open andor contribute to an hsa if you are enrolled in a qualified highdeductible health plan healthflex h1500, h2000 or h3000. Qualifying expenses for flexible spending account fsa or health savings account hsa. For a complete list visit turn over for more e rx prescription copayment medical office visit medical dental vision psychotherapy chiropractic care lab medical orthodontia hospital fees xray medical. To help you keep track, we put together the hsa, fsa, and hra eligible expenses list below. Frequently asked questions for hsas health savings accounts how a health savings account hsa works.
Managing your account you can manage or check on your account through wageworks online or over the phone. Hsa eligible health care expenses below is the list of items typically covered by a standard hsa. Future developments whats new internal revenue service. Ucs hsa and fsa administrators are working to update their plan documents and websites to reflect these changes. Child qualifying child per standard irs definition, for general tax purposes yes. Order additional wageworks healthcare cards for your family. From a to z, every item and service deemed eligible for taxfree spending will be here, complete with details and requirements. Frequently asked questions for hsas health savings.
Eligible expenses wageworks consumerdirected benefits. With this pretax benefit account, you can take advantage of the longterm savings power of an hsa and use a healthcare fsa specifically for this years eligible outofpocket dental and vision expenses. Support center eligible expenses calculators popular forms wageworks card fsa store manage account how to videos hsa store. Health flexible spending account frequently asked questions. Flexible spending account fsa eligible expense guide. The wageworks hsa default is for paper statements to be mailed. Publication 969 2019, health savings accounts and other. If you have previously used other websites, you must complete this registration process for security purposes. Weve also put together summaries of dependent care assistance program dcap and commuter benefits account eligible expenses as well and dont forgetthe easiest and most convenient way to pay for your eligible items is with your payment card. Eligible expenses for your wageworks dependent care. Mar 31, 2020 menstrual care products now considered a qualified medical expense through an fsa, hra or hsa. Hsa interest or investment earnings accrue taxdeferred. Established in san francisco in 2000 with seven employees, today, we employ more than 2,167 professionals across nine locations. Eligible expenses for your wageworks dependent care flexible spending account you can use your wageworks dependent care flexible spending account fsa to pay for a wide variety of child and elder care services.
Wageworks will likely require that you submit a receipt or your health insurance explanation of benefi ts eob to verify that the transaction was for an eligible health care good or service. Bank of new york bny mellon is the custodian for healthflex hsas. An hsa is a triple federal taxadvantaged account when paired with an irs qualified highdeductible health plan e. You can view a comprehensive list of eligible expenses by logging into your wageworks. With industryrenowned technology, flexible systems, dedication to compliance, and a commitment to customer service excellence, wageworks has become a leader in cobra administration providing solutions to organizations of every size, across all industries. The key to making the most of your health fsa is knowing about the wide variety of eligible expenses. Wageworks hsacompatible flexible spending account if youre enrolled in a qualified highdeductible health plan and have a health savings account hsa, you can maximize your savings with a wageworks hsacompatible flexible spending account fsa. This pretax benefit account, in conjunction with your qualified highdeductible health plan, is used to pay for eligible outofpocket medical, vision, and dental expenses. Letter in addition to the required detailed receipt, you will need to submit a letter of medical necessity, signed by your doctor, to verify this expense is a medicallynecessary treatment for a known medical condition. Oebb and wageworks are currently discussing the fees charged for hsa services and oebb will provide updates to all hsa fee changes as soon as possible. Health savings accounts hsas frequently asked questions. Frequently asked questions for hsas health savings accounts. Health care fsa a health care fsa pdf pays for qualified health care expenses incurred by you and your eligible tax dependents that are not covered or reimbursed by your.
Health savings accounts hsas are personal financial accounts, like a checking account, but the money. Eligible expenses for your take care by wageworks health. You must have made a pay me back election prior to filing a claim. Comparison of health reimbursement account hra, health. Wageworks company overview wageworks is a leading employee benefits administrator and provider of consumerdirected benefits.
Jan 04, 2018 the health flexible spending account, administered for uc by wageworks login required, formerly conexis, is a voluntary program established under internal revenue code irc section 105 that lets you pay for eligible health care expenses not covered by your insurance through pretax salary reductions. Although the general purpose of the hsa is to save for medical expenses that come up throughout the plan year while enrolled in a high. Health flexible spending account frequently asked questions what is a health flexible spending account. Health savings accounts hsas a health savings account hsa is a taxexempt trust or custodial account you set up with a qualified hsa trustee to pay or reimburse certain medical expenses you incur. The flexible spending account fsa, administered by wageworks, provides you with a way to pay for eligible health care andor dependent care expenses with pretax dollars. Wageworks is an administrator who provides tools, education, and support to help you successfully use an hsa and get the most value out of your health plan. Health savings accounts take care hsa is easy to use with the take care hsa employees can use the funds in their account to pay for current qualified health care services or save them and let them grow taxfree for health care needs down the road.
The flexible spending account fsa, administered by wageworks, provides you with a way to pay for eligible health care andor dependent care expenses with pretax dollars health care fsa. Faq for wageworksbny mellon transition to healthequity wageworks, nationwides current administrator for the health savings account program hsa program, was recently acquired by healthequity. This plan lets you use pretax dollars to pay for eligible health care expenses for you, your spouse, and your eligible dependents. Hsa eligible expensesqualified hsa expenses wageworks.
Eligible expenses for your wageworks dependent care flexible. Turn over for more e prescription requirement for otc drug purchases a doctors prescription is required in order to be reimbursed for overthecounter otc drugs. Health care and dependent care flexible spending accounts. Examples of eligible expenses university of pennsylvania. Readytouse tools to help you make the most of your wageworks benefits. If you have signed up for medicare, you may elect the ppo plus hsa plan but are not eligible to contribute to an hsa. Hsa eligibility you may be eligible to open andor contribute to an hsa if you are enrolled in a qualified highdeductible. This document contains proprietary andor confidential work product that belongs to wageworks, inc. Click on the wageworks logo above and enter calculate savings card use verification cuv. Wageworks has provided cobra administration services to employers since 1986. A wageworks debit card to use for hsa expenses sent separately. Am i eligible for the hp highdeductible ppo plan, including the health savings account, if i am covered under medicare. Medical expenses include dental expenses, and in this publication the term medical expenses is often used to refer to medical and dental expenses.
A health care fsa pdf pays for qualified health care expenses incurred by you and your eligible tax dependents that are not covered or reimbursed by your health insurance plan e. You can deduct on schedule a form 1040 or 1040sr only the part of your medical and dental expenses that is more than 7. Turn over for more e rx prescription copayment medical office visit medical dental vision psychotherapy chiropractic care lab medical orthodontia hospital fees xray medical. Thinking about your hsa as a 401k for most individuals, a health savings accounts hsa is a flexible savings platform offering the greatest opportunity to save on taxes and store money away for the future. Your beneficiary would be able to continue to use your hsa balance for eligible health care expenses. For more information about hsa eligibility requirements, see irs publication 969. Minimum account balance and how we determine the interest rate there is no minimum account balance required to open a health savings account or to obtain the annual percentage yield disclosed. If your spouse is enrolled in a health savings account hsa, you are not eligible to participate in a health care reimbursement account. A health savings account, or hsa, is like a 401k for healthcare.
You can use your wageworks healthcare flexible spending account fsa to pay for a wide variety of medical, dental, and vision care products and services. Starting in 2011, a prescription will be required to be reimbursed for claim forms eligible dependents below is a listing of items that are typically covered. Wageworks hsa how you manage it with a variety of payment and reimbursement options, your wageworks hsa is easy to use. Wageworks health savings account westlake chemical. You can earn interest on the money in your account and invest it so that it grows over time. Qualifying expenses for flexible spending account fsa or health savings account hsa plan restrictions may apply. Qualifying expenses for flexible spending account fsa or. Publication 969 2019, health savings accounts and other tax. Eligible expenses for your take care by wageworks health savings account you can use your take care by wageworks health savings account hsa to pay for a wide variety of medical, dental, and vision care products and services for you, your spouse, and your dependents. If you are already registered, please enter your username and password. Signature it is my responsibility to determine 1 whether i am eligible to make contributions to my hsa, and 2 whether contributions to this hsa have exceeded the applicable maximum annual contribution limit.
All remaining hcfsa funds will be forfeited if not spent prior to january 1. Hsa funds can be used to reimburse yourself for eligible healthrelated expenses. The irs determines which expenses are eligible for reimbursement. Health savings account hsa eligible expense guide wageworks. May, 2020 if you are already registered, please enter your username and password. All expenses incurred after december 31, 2019, qualify, and the provision has no expiration date. No permission or authorization from the irs is necessary to establish an hsa. Flexible spending account, year end faq dartmouth college. A health flexible spending account fsa is part of your benefits package.
Health savings accountsfor participants in qualified healthflex. As a result, if you retained an individual hsa account with wageworks, the funds in your hsa will transition to healthequity effective march 20, 2020. You can use your account to pay for a variety of healthcare products and services for you, your spouse, and your dependents. Form health savings account direct transfer wageworks 120417. Healthcare is changing fast, and there are new ways for you to benefit. The dependent care depcare fsa is intended for eligible caregiving.
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