Flexible Spending Accounts (FSAs) allow you to set aside pre-tax dollars for certain health/prescription drug, dental and vision expenses, as well as dependent care expenses for your dependents who meet the IRS qualifications of a tax dependent. The FSA Administrator, HealthEquity WageWorks, provides easy access to your tax-free FSA dollars. The maximum you can contribute to a Health Care FSA is $3,050 for the 2023-2024 plan year (July 1, 2023 – June 30, 2024); the Dependent Care FSA maximum contribution is $5,000 per family. The elected contribution amount is equally deducted, on a pre-tax basis, over each pay period. Expenses may be incurred throughout the year and up until the end of the grace period (September 15) to be reimbursed from your contributed dollars; any remaining balance after the end of the grace period will be forfeited.
Note: You are not permitted to enroll in a Health Care FSA if you are enrolled in the LG Consumer Plan.
The Health Care FSA allows you to use pre-tax dollars to help pay for out-of-pocket expenses not covered through your insurance plans such as deductibles and co-pays. The limit for the 2023-2024 plan year (July 1, 2023 – June 30, 2024) is $3,050.
Examples of items eligible for reimbursement from a Health Care FSA include:
Note: If you are married, both you and your spouse must be working -unless your spouse is a full-time student or totally disabled – to participate in the Dependent Care FSA. Highly compensated employee elections may be impacted by non-discrimination testing requirements.
The Dependent Care FSA allows you to use pre-tax dollars to pay for day care expenses of a child and/or adult dependent, including expenses for services provided by a qualified caregiver for day care provided in your home, someone else’s home or a day care center. The 2023-2024 plan year (July 1, 2023 – June 30, 2024) limit is $5,000.
Eligible dependents include: Your children under age 13 whom you claim on your Federal Income Tax return, or a dependent adult who is not capable of self-care and spends at least eight hours a day in your home. You have two tax-favorable options available to you when paying for day care—this Dependent Care FSA or the government’s Federal Child Care Tax Credit- but expenses can only be claimed in one of the options.
HealthEquity WageWorks is LG Health’s FSA Administrator. Representatives are available 24 hours a day and 7 days a week at 1-877-924-3967 if you need help using your FSA or with any questions regarding the LG Select Plan.
1. FSA Card: The primary enrolled FSA participant receives one FSA card. An FSA card is used like any other credit card – when accessing FSA eligible services, present the FSA card and the card system will automatically deduct the eligible expenses from your account balance. Check the balance of your FSA and access account details online at www.wageworks.com or call 1-877-924-3967. Remember to keep receipts.
Do not discard your cards; they are re-loaded each year with your future calendar year FSA contributions. You may need to submit receipts for purchases made with an FSA card, so please retain your receipts for audit purposes.
2. Reimbursement by check: Fill out a Request for Reimbursement Form**, attach a receipt and send to WageWorks. You will receive a check for the eligible reimbursement amount at your home address.
3. Reimbursement through Direct Deposit: You will automatically receive the reimbursement directly in your bank account for any out-of-pocket expenses incurred from any eligible expense.
**FSA Reimbursement and Direct Deposit forms are available on the WageWorks website.
The “Grace Period” follows the end of the Plan Year, during which time amounts that you have contributed that are unused at the end of the Plan Year may be used to reimburse eligible expenses incurred during the Grace Period. Eligible expenses incurred during a grace period will be paid first from available amounts that were remaining for the Plan Year to which the grace period relates and then from any amounts that are available to reimburse expenses incurred during the current Plan Year.
The grace period for Lancaster General Health’s plan extends from July 1 to September 15 following the end of the Plan Year.
QTAs allow employees to utilize funds for eligible transit (pre-tax) and parking (pre-tax) expenses; governed by IRC Section 132. Parking accounts and transit accounts are separate and funds cannot be transferred from one to the other. Transit and/or parking benefits are limited to employee expenses only: Reimbursement is not allowed for spouse or dependent transit or parking expenses.
Purchases for each month must be made in the HealthEquity WageWorks platform by the 10th of the month prior. For example, if you would like to purchase any transportation passes or parking passes for July, you must make your selections by June 10. Instructions on how to access the platform can be found here and any questions you have can be directed to HealthEquity WageWorks at 1-877-924-3967
In 2023 employees are eligible to contribute up to $300 per month in the Parking and/or Transit Account.
Access the Commuter Platform