Looking for a great way to keep more money in your paycheck? Check out a health FSA. It reimburses you for eligible expenses that aren’t covered by your health, dental, or vision plan — the out-of-pocket health care expenses that you’re already paying for.
See more examples on our Eligible Health FSA Expenses page.
Important: To find out the specific eligible expenses for your FSA plan, review your employer’s Summary Plan Description (SPD).
Health FSAs are unique. Your annual health FSA contribution is available on the first day of the FSA plan year. But your total FSA contribution amount is deducted from your paycheck in equal amounts throughout the year.
Let’s say your health FSA election is $1,200 and your plan year begins on April 1. On the first day of the FSA plan year, that’s April 1, you can use $1,200 right away toward eligible health FSA expenses. Then $100 will be deducted from your paycheck each month throughout the plan year.
Signing up for a health FSA is simple. An important first step is estimating your upcoming health care-related expenses. Think about the health care expenses for you, your spouse, and your qualifying children or relatives. Let us do the math for you — use our online savings calculator.
You may also be able to sign up if you have a change in status event and your employer’s FSA plan allows enrollment at a time other than open enrollment.
Knowing about your health FSA will help you make the best use of your FSA benefits and keep more money in your paycheck. Get familiar with your CONEXIS online account. It’s a great way to keep up with your FSA. Provide your email address and you’ll receive email claim confirmations and helpful FSA tips throughout the year.
Some employers offer the CONEXIS Elite Visa® Benefit Card along with their health FSAs. Our benefit card gives you instant access to your health FSA funds. It automatically deducts funds from your FSA when you use your card to pay for an eligible health FSA expense. No need to pay out of pocket. No need to submit a reimbursement form. No need to wait on a reimbursement check. Just swipe and go!
Check out more CONEXIS Elite Benefit card details by visiting our Benefit Card page.
You’ll want to review your employer’s Summary Plan Description (SPD) to find out if your health FSA plan includes any of these features:
According to IRS rules, you lose the funds remaining in your FSA if they’re not applied to a carryover or used during the grace period. Learn more on our Additional FSA Features page.