Step 2b: Dependent Care Reimbursement Information Having your dependent care provider sign this form is the preferred method to file for reimbursement. WEX simplifies benefits for everyone, and it starts with our innovative, flexible, and personalized benefits platform. 4. What is non-discrimination testing? document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Keep more of your money in your business, where it belongs.Apply for a fleet card today! Sign up to get new Benefits Buzz blog posts delivered to your inbox. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Keep more of your money in your business, where it belongs.Apply for a fleet card today! If you participate in a dependent care FSA by WEX, you have two easy options for collecting reimbursement with this type of FSA: The IRS offers a tax credit to those who have childcare or dependent care expenses. You can view the status of your claims and upload documentation easily with our benefits mobile app or through your online account. We are positioned to create a community that sustains and supports us as individuals and leaders, while also helping us to drive positive impact to our business. Did you know a 401k is the number one source of income for most retirees? Spend the funds in your HRA (and other benefit accounts) using your smart benefits debit card. Get instant updates on the status of your claims. You can use your funds for expenses incurred by you, your spouse or eligible dependents. Benefits & Perks | WEX, Inc. Flexible Spending Account Contribution Limits & IRS Regulations. Count on us to help you create the flexible, custom HRA you need while also offering participants a simple, seamless experience so they can easily take advantage of their benefits account(s). WEX Advantage Our benefits administration solutions solve employers end-to-end benefits needs including HSA, FSA, and COBRA, help employees get the most value from their benefits, and power partners business growth. Women play an important role at WEX. What if additional documentation is required? There are thousands of eligible items, including: Copays and coinsurance Doctor visits and surgeries Over-the-counter medications (first aid, allergy, asthma, cold/flu, heartburn, etc.) 1-866-451-3399 Our card works at a variety of merchants. A dependent care FSA helps participants save money on eligible dependent care services, such as child (up to age 13) or adult daycare, before or after school programs, summer day camp, and more! With a female CEO, an executive team with 30% female leadership, and global workforce that is nearly half female, women are a key part of WEXs business at all levels. Stay up-to-date with current trends and information that impact your business. Specifically, you can use it anywhere with an Inventory Information Approval System (IIAS) or at merchants that meet the IRS 90 percent rule (where 90% of gross sales meet eligibility requirements). Manage everything in one place Can I enroll? If an EOB isnt available, you can also submit an itemized receipt as long as it has the necessary information. WEX offers employees the opportunity to connect across the world through interactive platforms and programs. Note: Employers may offer these limits, but are not required to. The IRS and Department of Labor (DOL), however, have indicated informally that there is no change to the Outbreak Period set forth in the FAQs issued by Health reimbursement arrangements (HRAs) and health savings accounts (HSAs) are great tools for you and your employees to save money, and for your employees to prepare for potential medical expenses. Click here to access your WEX benefits account **username and email for registration is JEDID@johnshopkins.edu Your WEX benefits debit card makes it easy to spend your funds on eligible expenses. A dependent care flexible spending account lets participants set aside pre-tax dollars to help pay for dependent care. Combination FSA, which is a limited FSA that converts into a medical FSA once the IRS deductible is met. How does it work? WEX offers subsidized back-up daycare at a Bright Horizon partnered facility or in your home. The WEX benefits mobile app was built with that in mind, and includes a consistent, simple, and modern experience. document.getElementById( "ak_js_2" ).setAttribute( "value", ( new Date() ).getTime() ); Keep more of your money in your business, where it belongs.Apply for a fleet card today! Learn more about the Dependent Care FSA >, The Health FSA is intended for eligiblehealth care expenses for you and your eligible family members. You can find the form on the back of this handout. Optional employer self-service upload of contribution files, admin file contribution processing across employers, debit card, mobile, and online claim filing. Health Account Solutions | Voya.com I elected $5,000, which was withheld from my paycheck in the amount of $416.67 per month. Want to know the status of a recent claim or easily check the balance of your accounts? What is a VEBA? Whatever your business, we have a benefits solution for you! Description HRAs are tax-advantaged, exempt from both payroll taxes and income taxes. The COVID-19 National Emergency is over. Where does it work? You cant enroll in a dependent care FSA and apply for the tax credit with the same funds. We are positioned to create a community that sustains and supports us as individuals and leaders, while also helping us to drive positive impact to our business. Our benefits administration solutions solve employers end-to-end benefits needs including HSA, FSA, and COBRA, help employees get the most value from their benefits, and power partners business growth. You can view a list of IIAS merchants at www.sig-is.org/card-holders/store-locator. You can view the status of your claims and upload documentation easily with our benefits mobile app or through your online account. It cannot be used, for instance, at gas stations or restaurants. We are positioned to create a community that sustains and supports us as individuals and leaders, while also helping us to drive positive impact to our business. No more jumping from screen to screen (and having to remember multiple logins) to keep track of multiple benefit accounts. Report a card as lost or stolen, which cancels the card and ships you a new one. * Varies by HRA. Doc Additional documentation required. 3 reasons we see people flipping to a fuel card: Apply Now From simple to complex and integrated to retirement, we can help you create and offer an HRA that works best for your employee population. Check out our Benefits Toolkit on our website. Employee Resource Groups are great because it gives everyone a voice regardless of origin and background. Multiple tiers of coinsurance can be defined. The Employee Resource Groups (ERGs) serve as touchpoints for communities across WEX with shared interests, cultures, identities, and backgrounds. The IRS released 2023 contribution limits for medical flexible spending accounts (medical FSAs), commuter benefits, and more as part of Revenue Procedure 2022-38. Specifically, you can use it anywhere with an Inventory Information Approval System (IIAS) or at merchants that meet the IRS 90 percent rule (where 90% of gross sales meet eligibility requirements). We know that accessibility drives engagement and account satisfaction. Participants/Employees 1-866-451-3399 Live Chat customerservice@wexhealth.com cobraadmin@wexhealth.com Individual HSA Accountholders 1-877-765-8815 individualhsa@wexhealth.com Employers 1-877-765-8810 Or check out this episode of Benefits Buzz to learn eight things you should know about medical FSAs. Employee Resource Groups are great because it gives everyone a voice regardless of origin and background. Our card works at a variety of merchants. Focusing on diversity also means focusing on inclusion. What is a dependent care FSA? | WEX Inc. Our technology can pull from the right benefits account (at the right percentage, in the right order) when participants make a purchase, so they only need one debit card, no matter what benefits they are enrolled in (health and commuter). Dollars you contribute are taken out of your paycheck before tax which means a $100 purchase would actually cost you over $130 without a medical FSA. Were talking one modern, user-friendly online account, one debit card for all their benefits (that they can add to their digital wallet and use with mobile pay), and one mobile app to easily track and manage their benefits even when they are on the go. Specifically, you can use it anywhere with an Inventory Information Approval System (IIAS) or at merchants that meet the IRS 90 percent rule (where 90% of gross sales meet eligibility requirements). Military veterans possess invaluable leadership skills and business acumen. We live in a mobile-first world, and the WEX benefits mobile app was built with that in mind. Fast Fact A great way to set it and forget it is to use our Recurring Dependent Care Form that allows you to submit one claim for the entire year and you will be reimbursed after each payroll. This saves you money by reducing your taxable income. From matching 401K to back-up daycare, tuition reimbursement, free fitness facilities and more. How do I get a card? How does it work? Benefits mobile app & participant portal Access your benefits 24/7 with the WEX mobile app. Dependent Care FSA for Nanny or Family Member Home Childcare Step 4: Participant certification To the best of my knowledge, the provided information is complete and accurate. Inventory Information Approval System (IIAS). Mistaken Enrollment in the Dependent Care FSA - Newfront Insurance For legal or tax advice, you should consult your own counsel. WEX Advantage Just one debit card is all you need for your card-eligible benefits with us. Use your benefits debit card at the point of purchase. Women play an important role at WEX. *With the WEX benefits platform, COBRA participants also enjoy a seamless experience with a user-friendly online account and mobile . Women play an important role at WEX. Dependent Care FSA Why should I choose a dependent care FSA? Sometimes called multi-employer plans, these are defined benefit (pension) plans that are part of a collective bargaining agreement. The Dependent Care FSA reimburses you for qualified dependent care expenses such as day care that enable you, and your spouse (if you are married), to work or attend school full time. Funds can be used for current or future eligible expenses. There are thousands of eligible items, including: Dental and orthodontia office visits and expenses Dental implants, veneers, dentures and bridges Optometrist and ophthalmologist visits and expenses, Eye glasses, contacts, prescription sunglasses, solutions and drops Laser eye surgery. An employer determines the type of HRA plan design that best aligns with their needs. Focusing on diversity also means focusing on inclusion. Save money and manage fleet operations with our modern business mobility solutions, including a broad array of fuel cards for any size fleet. It makes claim filing simple because you only need to submit one form once in order to get reimbursed each pay period. You're spending the money either way. Specifically, you can use it anywhere with an Inventory Information Approval System (IIAS) or at merchants that meet the IRS 90 percent rule (where 90% of gross sales meet eligibility requirements). Access your benefits on the go 24/7 with the WEX benefits mobile app. We are positioned to create a community that sustains and supports us as individuals and leaders, while also helping us to drive positive impact to our business. Save strategically Submit all of your dependent care expenses at the end of the To honor this, WEX awards employees every 10 years for their service. I understand that WEX may require me to submit any additional documentation, receipts and an updated request form at any time. Learn more. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Get the latest Health Trends & Insights news in your inbox. Save strategically Submit all of your dependent care expenses at the end of the plan year for one lump sum reimbursement to give yourself a hard-earned bonus. Inventory Information Approval System (IIAS). Documentation must be retained for your records and provided to WEX when requested to do so (if a receipt is unavailable, a signature from the provider is sucient). If submitting expenses for my Individual Coverage Health Reimbursement Arrangement (ICHRA), I certify that I, or the individual for whom I am requesting reimbursement, have (or had) individual health insurance coverage, Medicare Part A (Hospital Insurance) and B (Medical Insurance), or Medicare Part C (Medicare Advantage) during the month the ex. I understand the purpose of my signature on this form is to substantiate the name of the dependent care provider, the dates of service care is being provided and the dollar amount of the services. Please call WEX at 1-866-377-5102, Option 1 to ensure you can access your account online when you need to. Step 3: Provider Affidavit: Provider Signature: Date: Date Span of Service (mm/dd/yy) Name of Provider. Our benefits debit card is the fastest and most convenient way to access your funds and pay for eligible expenses. Check your plan details for more information. At WEX, we value your commitment and time spent working, growing and contributing each day. Can I enroll? Weighing the tax credit versus a dependent care FSA, The IRS offers a tax credit to those who have childcare or dependent care expenses. Limited medical FSA, which covers eligible dental, vision and preventative care expenses. Lets say you enroll and contribute $5,000 per year into a dependent care FSA in 2022. Knowledgebase Once youre enrolled, check out the knowledgebase to quickly search for answers to your questions. Reimbursement for qualified medical expenses, including health, dental and vision, is available for participants, their spouse and eligible dependents. The limited FSA pairs nicely with a health savings account (HSA). Security on the go Our mobile apps use encryption and wont store photos, keeping your documentation safe and secure. But theyve also evolved in recent years, with three increasingly popular types of HRAs rolled out since 2017. Funds on day 1 All of your FSA dollars are available on the very first day of the plan year. With a female CEO, an executive team with 30% female leadership, and global workforce that is nearly half female, women are a key part of WEXs business at all levels. No. But they've also evolved in recent years, with three increasingly popular types of HRAs rolled out since 2017. Looking for your Discovery Benefits Login? . WEX knows that happy, healthy employees are key to the engagement and morale which positively impact business results. Description Our payments platform technologies give you everything you need to run an advanced payments program in one place, including the expertise to make payments smarter, faster, and more profitable. By putting that money aside pre-tax in a dependent care FSA rather than allowing the funds to be taxed, you save nearly $1,500 this year! Launched in 2020, Lets Chat is an AI-driven operator for customer service teams, AND a fast, reliable, secure virtual assistant for participants. It can be easy to get caught up in a routine or a silo at WEX, but NexGen has given me the opportunity to connect with people in other functional areas that I otherwise would have never met.. What does it cover? Our solutions include: - Full benefits administration - Decision support - ACA + other compliance services - Employee care center - Dependent verification - Employee benefits (HSA, FSA, HRA, LSA, Commuter, etc.) Use-or-lose Dont forget to spend your FSA dollars. Please ensure your supporting documentation clearly indicates the requested amount. Change Recurring Dependent Care FSA Information: Please update my recurring reimbursement with the information provided in Step 3 as of the Effective Date listed on the right. Inventory Information Approval System (IIAS). WEX Health is the administrator for the FSA plans. Contributing to this benefit reduces rateable income and spreads the features of pre-tax in throughout the year, helping you saved 30 percent or more on your dependent care expense. Our benefits administration solutions solve employers end-to-end benefits needs including HSA, FSA, and COBRA, help employees get the most value from their benefits, and power partners business growth. Dont have a smartphone? WexBocaLink.setUrl("locations-flyout", "WEXFleetUniversal", "cc1"); Save money and manage fleet operations with our modern business mobility solutions, including a broad array of fuel cards for any size fleet. If there is a discrepancy . These events include: Gain or loss of eligibility due to a change in participant, spouse or dependent employment status Change in daycare providers Child turning age 13, Increase or decrease in the cost of qualifying daycare expenses Judgement, decree or order requiring a change in coverage, 866-451-3399 866-451-3245 PO Box 2926 Fargo, ND 58108-2926 forms@wexhealth.com, Recurring Dependent Care Request Form This form is to be completed each plan year and as changes occur when you want to receive recurring reimbursement of dependent care expenses. Below is a look at the average participant contribution to a dependent care FSA. WexLocationCode.setTransientValue("wex02"); Is the WEX Health Payment card just like other Visa or MasterCard Cards? Participants have an upfront amount that they have to incur prior to the HRA reimbursement of claims. You can enroll during open enrollment, at the time of your hire or if you have a status change. And when youre using a desktop, you can expect the same user-friendly experience. Your WEX benefits debit card makes it easy to spend your funds on eligible expenses. If used at an IIAS merchant, simply swipe your card and it will automatically approve anything thats an eligible expense. As part of the nanny's duties, the nanny also regularly spends 30 minutes per day driving the employee . From simple to complex plans, we make it possible (and make sure it stays within requirements). While the IRS requires documentation for certain spending and reimbursement benefits, we automate some of that substantiation through: IIAS approval: If a merchant uses the Inventory Information Approval System (IIAS), the debit card will automatically approve eligible expenses. Use your benefits debit card at the point of purchase. An Excepted Benefit HRA provides employees who are eligible to participate in a traditional group plan with funds to cover insurance premiums consisting of solely excepted benefits such as dental and vision. Consult your tax advisor for more information. Go to www.wexinc.com , hover over Solutions and select Participants/ Employees. It can be easy to get caught up in a routine or a silo at WEX, but NexGen has given me the opportunity to connect with people in other functional areas that I otherwise would have never met.. Your WEX benefits debit card makes it easy to spend your funds on eligible expenses. FSA - Flexible Spending Account | Benefits | WEX Inc. WexBocaLink.setUrl("locations-flyout", "WEXFleetUniversal", "cc1"); This field is for validation purposes and should be left unchanged. Youll be notified via mail or email if more documentation is required. Prescription drugs. Benefits are a vital part of your company and culture, but subpar administration can create headaches for you and stress for your employees. Predetermined dollar amounts automatically provided to participants on a defined schedule. Determine how much you spent on healthcare expenses last year and estimate the amount youll spend this year using our eligible expense list. Plan ahead and set those funds aside in a limited FSA and save 30%. Where does it work? Employee Resource Groups are great because it gives everyone a voice regardless of origin and background. Women play an important role at WEX. ERGs drive diversity by fostering new bonds and communities across the company. It can be easy to get caught up in a routine or a silo at WEX, but NexGen has given me the opportunity to connect with people in other functional areas that I otherwise would have never met.. We provide comprehensive and holistic benefits for all employees working 30 hours or more (and benefits are effective day 1 for new hires). WEX Advantage Documentation must be retained for your records and provided to WEX when requested to do so (if a receipt is unavailable, a signature from the provider is sufficient). Dependent Care Flexible Spending Account - JHU Human Resources * * Based on a 30% tax bracket. December 1, 2022 by Hayden Goethe. Our technology gives you the ability to create a completely custom HRA based on what works best for you and your employees. The information in this blog post is for educational purposes only. ERGs drive diversity by fostering new bonds and communities across the company. 1-877-765-8810 WEX Advantage Know what opportunities are available to you as an employee of WEX. Happy 2023! Where does it work? Our app's consistent, simple, and modern experience makes it easy for participants to manage their benefits on-the-go. I understand that WEX, including its agents and employees, will not be held liable if I submit ineligible expenses for reimbursement. Specifically, you can use it anywhere with an Inventory Information Approval System (IIAS) or at merchants that meet the IRS 90 percent rule (where 90% of gross sales meet eligibility requirements). - COBRA + Direct Bill - Carrier bill reconciliation + payments Did you know benefitexpress is now WEX? I want to make a difference and make people feel like they belong here and WEXPats empowers me to do that by giving me a community of people who have the shared experience of immigrating to a new country for work and the passion to make the transition easier for others. Save money The dependent care FSA lets you pay for eligible dependent care expenses while you reap the benefits of additional tax savings. 2024 HDHP minimum deductible and maximum out-of-pocket limits also are increasing. This removes the burden of managing carryover from the partner, and creates a hassle-free experience for participants. Focusing on diversity also means focusing on inclusion. Our card works at a variety of merchants. This way, eligible childcare and other dependent care costs are a little less. Our benefits administration solutions solve employers end-to-end benefits needs including HSA, FSA, and COBRA, help employees get the most value from their benefits, and power partners business growth. Contact OTR Benefits Customer Support Available Monday - Friday, 6am to 9pm CST, with the exception of some major holidays. Dependent Care FSA Why should I choose a dependent care FSA? What if additional documentation is required? I want to make a difference and make people feel like they belong here and WEXPats empowers me to do that by giving me a community of people who have the shared experience of immigrating to a new country for work and the passion to make the transition easier for others. Birth Date (mm/dd/yyyy) (Required) Social Security Number (SSN) (Required) (Last 4 digits only.) An RRA is an employer-funded account that accrues while you are an active employee to help pay for eligible medical expenses during retirement. WEXVets provides mentorship, development, and camaraderie for veteran employees, empowering them to capitalize on their unique experiences. And election of COBRA can affect your ability to use the reimbursement accounts in which you were participating prior to your COBRA eligibility. Employee pays a nanny $1,500/month to take care of her 9-year old child at home so the employee and spouse can work. Pairing these plans allows you to spend your limited FSA dollars on eligible expenses while saving or investing your HSA dollars. I confirm my payroll deductions are less than my daycare costs per week so recurring reimbursements will occur when payroll deductions post to my Dependent Care FSA. With a female CEO, an executive team with 30% female leadership, and global workforce that is nearly half female, women are a key part of WEXs business at all levels. Live Chat Eligible expenses are determined by the IRS and include a variety of products and services. With a female CEO, an executive team with 30% female leadership, and global workforce that is nearly half female, women are a key part of WEXs business at all levels. WEX supports wellbeing activities all around the world. This allows us to see the company through a different lens or perspective than we normally would. For out-of-pocket expenses and some debit card purchases, the IRS requires more documentation to validate that purchases were for eligible items or services. Full-service administration options for either or both reimbursement processing as well as trust and investment management. Updates or changes to your information can be made by logging into your account at www.wexinc.com . lets participants set aside pre-tax dollars to help pay for dependent care. ERGs drive diversity by fostering new bonds and communities across the company. The list includes, but is not limited to, eligible: Childcare center, babysitter, nanny (birth through age 12) Summer day camp Before- or after-school care, Disabled dependent and/or spouse care Elder care. A dependent maintain flexible spending accountlets competitor set sides pre-tax dollars to help pay for dependent care. PDF Request for Reimbursement Dependent Care Flexible Spending Account - ODU Description I want to make a difference and make people feel like they belong here and WEXPats empowers me to do that by giving me a community of people who have the shared experience of immigrating to a new country for work and the passion to make the transition easier for others. No more short plan years. Our process allows HRA funds to be made available on day one of the current plan year, while simultaneously handling carryover funds from the previous year in a single purse. The employer pays a portion of each expense that is filed against the HRA up to a max dollar amount. Focusing on diversity also means focusing on inclusion. If you have the benefits debit card, it will continue to work as normal, using your carryover funds first. With a female CEO, an executive team with 30% female leadership, and global workforce that is nearly half female, women are a key part of WEXs business at all levels. Expiring debit card We will automatically mail you a new debit card 30 or more days prior. Plan ahead and set those funds aside in a medical FSA and save 30%. Use-or-lose Dont forget to spend your FSA dollars. Discount Think of it like a discount on healthcare expenses at stores such as Amazon, Target, CVS, Walmart, Walgreens and more. WexLocationCode.setTransientValue("wex02"); WEXVets provides mentorship, development, and camaraderie for veteran employees, empowering them to capitalize on their unique experiences. How does it work? If your cost of dependent care per month exceeds your monthly payroll deductions, you can fill out a Recurring Dependent Care Request Form at the beginning of the plan year and be reimbursed as your payroll deductions post to your account. Eligible Expenses | Benefits | WEX Inc. We are positioned to create a community that sustains and supports us as individuals and leaders, while also helping us to drive positive impact to our business. Employees offered an ICHRA cannot also be offered a traditional group health plan. It can be easy to get caught up in a routine or a silo at WEX, but NexGen has given me the opportunity to connect with people in other functional areas that I otherwise would have never met.. Inventory Information Approval System (IIAS). Where does it work? Funds on Day 1 Buy those eyeglasses or finally get those braces. WEX offers a comprehensive and competitive benefits package designed to help make life better - at work and at home. You can submit documentationthrough your online account,mobile appor via fax or mail, and you can receive reimbursement via your debit card, direct deposit or check. Employee Resource Groups are great because it gives everyone a voice regardless of origin and background. View our interactive eligible expense list at www.wexinc.com/insights/benefits-toolkit/eligible-expenses/.

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