Flexible Spending Accounts (FSA)

WEX will continue as the College’s flexible spending administrator for 2023

New Eligible expense changes for FSA and HSA

  • The Coronavirus Aid, Relief, and Economic Security Act reinstated over-the-counter products as eligible expenses for flexible spending account and health savings account funds without a prescription. Menstrual care products were added as eligible expenses as well. These changes are retroactive to Jan. 1, 2020 so you can seek reimbursement from your accounts for eligible expenses since then. Refer to the Eligible Expenses Tool for a comprehensive list.
  • Watch this Video to learn more about these new eligible expenses.
  • Maximize your FSA and HSA savings by knowing what the Eligible Expenses are.

Dependent Care:  You may have money deducted from your pay on a pre-tax basis to cover costs for Dependent Care.  The maximum limit for the 2023 calendar year is $5,000.

Medical/Health Care:  You may have money deducted from your pay on a pre-tax basis to cover qualified medical expenses that are not covered by your medical, dental or vision insurance.  The annual medical flexible spending account contribution maximum is $3,050 for 2023.