Flexible Spending Accounts (FSA)
Reduce your out-of-pocket expenses with an FSA!
A Flexible Spending Account (FSA) is an IRS tax-favored account you can use for eligible out-of-pocket expenses. FSA accounts are administered by WageWorks (previously Automatic Data Processing).
An Open Enrollment period for the Flexible Spending Account plan is held annually. Unlike the health and dental insurance, employees who wish to participate in this program must re-enroll during each Open Enrollment period.
What types of FSAs are available?
FCPS offers two types:
- Dependent Care FSA
- Health Care FSA
Dependent Care FSA
You may use this FSA to claim reimbursement for eligible day care expenses for your child under age 13, or for a spouse/eligible dependents who are unable to care for themselves. The day care expense must be incurred so that you (and your spouse, if applicable) can work or attend school.
Dependent Care FSA Maximum Annual Election
- 2017: $5,000 for single or married filing jointly, and $2,500 for married filing separately.
- 2018: $5,000 for single or married filing jointly, and $2,500 for married filing separately.
Health Care FSA
You and your eligible dependents’ medical, dental, and vision expenses that are not fully covered by insurance can generally be reimbursed through this FSA. You do not need to be enrolled in an FCPS health plan to enroll in the Health Care FSA.
Health Care FSA Maximum Annual Election:
- 2017: $2,550. If both you and your spouse are employed by FCPS you may each set aside $2,550.
- 2018: $2,600. If both you and your spouse are employed by FCPS you may each set aside $2,600.
Participants in the Health Care Flexible Spending Account (FSA) are able to carryover $500 in unused funds to the following plan year.
Enrollment and Claims Submission
To participate, you must enroll within 30 days of your hire date, within 30 days of a qualifying event, or during Open Enrollment (every fall). You must re-enroll each year. You determine how much money you want to contribute to the account(s) for the calendar year. That amount is taken out of your paycheck in equal installments and placed in the account(s) you elect. You are then reimbursed for eligible expenses after submitting a claim form and required documentation. You can submit your claims by fax, mail, or online at the WageWorks website. You have 90 days from the end of the calendar year to submit your expense claims.
Any money left in your FSA account after the 90-day period and the $500 carryover of unused Health Care FSA funds will be forfeited and cannot be returned to you. Claims must be incurred (i.e. services received) during your period of enrollment and prior to the end of the calendar year.
Your FSA reimbursements will be easier with automatic direct deposit of reimbursements. The direct deposit information on file for deposit of your net pay with FCPS will be transmitted to WageWorks eliminating the need to take checks to your banking institution.
Direct deposit of flexible spending account reimbursements is a condition of FSA plan enrollment.
Once Enrolled in an FSA: Create and View your Account(s) Online
Participants may check their FSA accounts online. To get started:
- Go to https://myspendingaccount.wageworks.com
- Click on "New Users - Register Here"
- Enter your First and Last Name, Date of Birth, and Social Security Number (or you may also use your alternate EIN)
- Create a User ID and Password