TexFlex Spending Accounts
On September 1, PayFlex® Systems, Inc. took over as the new TexFlex flexible spending accounts (FSAs) program administrator from WageWorks. This change does not affect how much participants can contribute, eligible
expenses or other program rules.
Filing claims for PY21 expenses
If you incurred expenses before August 31, but didn’t file claims with Wage Works, you will now have to submit your claims to PayFlex. The last date to file claims for Plan Year 2021 is December 31.
The health care and limited-purpose FSAs allow participants to carry over up to $550 in unused funds from Plan Year 2022 to Plan Year 2023. Any unused funds over $550 will be forfeited. For participants who do not re-enroll for the next plan year, the minimum carryover is $25. Participants who don’t re-enroll for the next plan year will forfeit any unspent health care or limited-purpose FSA funds over $550 or under $25.
The dependent care FSA will not allow any funds to carry over. Instead, the 2½-month grace period will return. After August 31, 2022, participants can spend unused dependent care FSA funds on eligible expenses through November 15. Plan Year 2022 funds not spent by November 15, 2022 will be forfeited.
If you elect to participate as a new employee and have a health coverage waiting period, you will have a 60-day waiting period before your TexFlex health care or limited-purpose FSA will begin. Enrollment becomes active on the first day of the month following your 60th day of employment.
Following this plan, the entire amount you pledge for the plan year is available up front, so it is like an interest- and tax-free loan that can be used for approved health care costs. The TexFlex annual maximum contribution is $2,750 for health care.
FSA-Day Care Account
This plan is used for day care for children younger than 13 or for adult family members. Following this plan, you must pay out-of-pocket for day care expenses and then file for reimbursement. The TexFlex annual maximum contribution is $5,000 for day care.
Limited Flexible Spending Accounts
Only employees enrolled in Consumer Directed HealthSelect, can enroll in a limited FSA. The limited FSA lets you set aside money on a pre-tax basis, for both you and your eligible dependents, the same way a TexFlex health care FSA does, except it is limited to dental and vision expenses so that it complies with IRS requirements.
PayFlex Debit Card
This debit card allows you to access your FSA-Health Account without having to pay for health care costs with cash or a credit card and then file for reimbursement. Keep all debit card receipts in case you are asked for them.
You must activate the debit card prior to use and may contact PayFlex to request additional cards. There is no charge for the TexFlex health care account debit card.
Dependent care participants will no longer be eligible to use the debit card and will need to submit claims online, by fax or by mail.
To submit an FSA claim visit the PayFlex website and choose Express Claims to file claims electronically.
Phone: 866-353-9839 (TTY: 711)
Monday through Friday, 7 a.m. to 7 p.m. CT and Saturday, 9 a.m. to 2 p.m. CT.
For more information, visit the TexFlex webpage.