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Did You Sign Up for an FSA for 2021? Find Tips and Resources to Get Started!

Published on January 12, 2021January 11, 2021 by Megan MacGregorLeave a comment

Welcome to 2021 and your flexible spending account (FSA) funds! If you signed up for a 2021 FSA during Open Enrollment last October, you’re on your way to saving money on out-of-pocket medical and/or dependent care expenses. MSU’s FSA plan administrator is HealthEquity/WageWorks. If this is your first time participating in an FSA, make sure you register for your online HealthEquity/WageWorks account.

If you have a Dependent Care FSA, you can use pre-tax dollars to pay for eligible dependent care services, such as child or elder daycare, preschool and before/after school programs.

If you have a Health Care FSA, you can purchase a variety of products and services with pre-tax dollars – it’s like a 30% off sale on eligible expenses¹. Some items you may not know about include:

Allergy medication
Bandages
Breastfeeding classes
Cough syrup
Feminine Care Products
First-aid kits
Hearing aids
Humidifier/air filter
Pain relievers
Pregnancy tests
Reading glasses
Smoking cessation drugs
Sunscreen
Thermometer

You can find a complete list of eligible expenses for both health and dependent care FSA funds on the HealthEquity/WageWorks website². To make shopping for eligible health care FSA expenses easier, visit the online FSA Store for the largest selection of guaranteed FSA-eligible products. And remember, managing your HealthEquity/WageWorks account is quick and easy with the WageWorks EZ receipts app. You’ll love the convenience of submitting claims, uploading receipts and checking account balances directly from your phone.

What if I still have funds left over from my 2020 FSA?

Not to worry – if you still have funds left over from your 2020 FSA, you currently have until March 15, 2021 to use these funds and until April 30, 2021 to submit receipts to substantiate these claims. PLEASE NOTE: MSU is currently reviewing new legislation that may extend these deadlines. If the deadlines are extended, we will be sure to communicate the new date and update the HR website. Find the most up-to-date information about FSAs and deadlines on the HR website.

Questions? For more detailed information contact HealthEquity/WageWorks customer service directly at 877-924-3967 or visit the HealthEquity/WageWorks website.

¹ Assumes a combined tax rate of 30%, including FICA, state, and federal income taxes. Actual amounts may vary.

²Some items may require a doctor’s prescription or other documentation from your doctor. Please see your account details for more information.

Save an Average of 30% on Common Household Expenses

Published on September 29, 2020September 29, 2020 by Megan MacGregorLeave a comment

While your child care and medical care options may have changed during the COVID-19 crisis, many families are still looking for ways to save money on some common household expenses. As you consider what your family may need for the coming year, don’t forget you have benefit options available that may help. A flexible spending account (FSA) allows you to use pre-tax dollars to pay for eligible expenses, such as daycare or health care costs like copays or pain medication. In fact, using FSA funds for these types of expenses can save you an average of 30%!

MSU is happy to offer benefits-eligible employees the option to enroll in two different types of FSAs: Dependent Care FSA and/or Health Care FSA. You can enroll in one or both FSA plan types. You will manage your FSA directly with MSU’s plan administrator, HealthEquity/WageWorks.

Should I enroll in both FSA types?

Good question! The answer depends on what you and your family need. Make sure you know the eligible expenses each FSA plan allows you to use your pre-tax money on before you enroll in one or both plans.

Dependent Care FSA Eligible Expense Examples:

Child care
Elder care
Virtual or in-person camps
Before/after school programs
Nursery school
Find a complete list here

Health Care FSA Eligible Expense Examples:

Medical/dental deductibles and copays
Pain medication
Menstrual care products
Bandages
Hearing aids
Allergy medications
Orthodontics
Find a complete list here

When you enroll, you’ll decide how much money you’d like to contribute to the FSA. This money will be deducted from your paycheck (pre-tax) and divided over each pay period throughout the plan year.

How to Enroll

We encourage you to review these two FSA plan options and enroll – or re-enroll – in an FSA during the MSU Benefits Open Enrollment period in October. Before you enroll, make sure you take some time to understand each plan and estimate how much you are likely to spend on eligible expenses throughout the plan year. Since it may be difficult to plan your expenses due to the changing nature of the pandemic, we encourage you to plan conservatively. Due to IRS requirements, any unused funds left in your account at the end of the plan year will be forfeited. Learn more about FSAs – including contribution limits, deadlines, and eligible expenses – on the HR website.

Questions? Visit the FSA Plan Administrator website or call 877-924-3967. You can reach MSU Human Resources at SolutionsCenter@hr.msu.edu or 517-353-4434.

Money-Saving Tip: Use Your FSA Funds to Prepare for Summer Fun!

Published on July 10, 2020July 9, 2020 by Megan MacGregorLeave a comment

While your summer plans may look a bit different this year due to COVID-19, there are still a variety of fun things you and your family can do while practicing safe social-distancing (read more about safe summer activities on campus here). Whether you’re planning a mini road trip, family picnic, or trip to the lake, if you participate in a flexible spending account (FSA) you can use your funds to help pay for common summer necessities and/or camps for your kids.

Tips for Health Care FSA Funds

Save an average of 30% by using your Health Care FSA funds on the following eligible expenses that double as travel necessities:

Allergy medications
Blister care kits
Bug bite treatments
Orthotics/insoles
Sun reader eyeglasses
Sunscreen
SPF lip balm
Travel first-aid kits
Traveling neck pillows
UV detection stickers
And more!

Worried about buying something that isn’t considered an eligible expense? Consider shopping at the online FSA Store for worry-free purchases since everything on the FSA Store website is a guaranteed eligible expense. Be sure to check out their monthly coupons and promo codes for additional savings.

Tips for Dependent Care FSA Funds

If you have a Dependent Care FSA, chances are you haven’t been able to use your funds on childcare as much as you originally estimated due to closures from COVID-19. However, don’t forget you can also use these funds on summer camps for your kids. While many places are now offering virtual camp options, some places are still offering in-person activities with special social-distancing measures in place. See if any of the following options may interest your kids:

Spartan Youth Programs have a variety of virtual camps and activities for children and teens.
Creative kiddos can join the MSU Broad Art Museum online this summer for Sketchbook Club.
Join the Wharton at Home Summer Sessions for a variety of online classes in performing arts.
The MSU Community Music School is offering virtual summer camp options for kids.
While summer camp at Lansing’s Potter Park Zoo has been canceled, they recommend families explore the fun and fascinating world of animals during Virtual Conservation Camp through the Lincoln Park Zoo in Chicago or Zoom-a-Zoo Virtual Camp Crew through Brevard Zoo in Florida.
Find a variety of in-person camps in the Lansing area with special social-distancing measures in place on Eventbrite.

If you don’t have an FSA and are wondering if you should participate in one, learn more about the two types of FSAs available to benefit-eligible MSU employees on the HR website and consider enrolling in one or both types during the benefits Open Enrollment period in October this year.

Your Health Care Flexible Spending Account: Updates and Money-Saving Tips

Published on May 5, 2020May 5, 2020 by Megan MacGregorLeave a comment

Are you enrolled in a health care flexible spending account (FSA) for the 2020 plan year? A health care FSA is a great tool to help you save money on common household expenses – like first aid kits, sunscreen, or doctor co-pays – since it allows you to use pre-tax money to pay for hundreds of eligible expenses, saving you an average of 30%.

During the current COVID-19 crisis, we know families are thinking about ways to save money while also staying safe by limiting contact with others through social distancing. To help, we’d like to share some tips and updates to your health care FSA to help you stay safe AND save money.

New Items Added to the Eligible Expenses List

Recently, the CARES Act was signed into law, which expanded the list of eligible expenses you can use your health care FSA money on. Newly eligible expenses include popular over-the-counter drugs without a doctor’s prescription and menstrual care products. Find a highlighted list of new items below:

Pain relief medications
Cold and flu products
Allergy products
Heartburn medications
Menstrual care products
Find a complete list of eligible expenses here.

Shop for Eligible Expenses from Home – Delivered Right to Your Door

While you can shop anywhere for eligible expenses, we’d like to remind you of the convenience of using the FSA Store for easy online shopping.

FSA-eligibility guarantee: all items on the FSA Store website are guaranteed to be eligible expenses, so you never have to worry about accidently purchasing a product that doesn’t qualify.
Save time: if you use your FSA card while shopping on the FSA Store your purchases are automatically substantiated – no need to upload any receipts to your account.
Stay safe: shop while practicing safe social distancing, since all items are delivered directly to your door.

Please note that anyone can shop online at the FSA Store, not just people enrolled in a Health Care FSA.

How Can I Enroll in a Health Care FSA?

Benefits-eligible MSU employees have the option to enroll in a health care FSA during Open Enrollment each year in October. Learn more about FSAs on the HR website.

Deadline to Use 2019 FSA Funds Approaching!

Published on February 11, 2020February 11, 2020 by Megan MacGregorLeave a comment

Do you still have funds left over from your 2019 flexible spending account (FSA)? Good news! If you signed up for a health care FSA, dependent care FSA or both in 2019 and still have funds remaining in your account, you have a grace period in 2020 to use these funds.

The grace period gives you time to purchase new products or services before you forfeit unused 2019 funds. Don’t lose your money! Take note of the following important deadlines:

March 15, 2020: this is the last day you can incur qualified expenses on your 2019 FSA plan.
April 30, 2020: this is the last day you can submit your claims to WageWorks, MSU’s FSA plan administrator. You can do this via your WageWorks account or the WageWorks EZ receipts app. Need help submitting claims? Try out the live chat option within your online WageWorks account – it’s available 24/7.

The IRS requires you to forfeit any unused 2019 funds after the deadline, so be sure to spend your money and submit claims. If you need ideas for what to use your health care FSA funds on, check out the FSA store or the article on Tips to Use Your FSA Funds.

Questions? Contact WageWorks at 877-924-3967 or visit the WageWorks website to learn more about how to use your leftover 2019 funds before the deadline. Learn more about FSAs on the HR website

Tips to Use Your Flexible Spending Account Funds

Published on January 7, 2020January 6, 2020 by Megan MacGregorLeave a comment

Welcome to 2020 and your flexible spending account (FSA) funds! If you signed up for a 2020 FSA during Open Enrollment last October, you’re on your way to saving money on out-of-pocket medical and/or dependent care expenses. MSU’s FSA plan administrator is WageWorks. If this is your first time participating in an FSA, make sure you register for your online WageWorks account.

If you have a Health FSA, you can purchase a variety of products and services with pre-tax dollars – it’s like a 30% off sale on eligible expenses¹. Some items you may not know about include:

Allergy medication
Bandages
Breastfeeding classes
Cough syrup
Dyslexia treatment
First-aid kits
Guide dog
Hearing aids
Humidifier/air filter
Lasik
Pain relievers
Pregnancy tests
Reading glasses
Smoking cessation drugs
Sunscreen

You can find a complete list of eligible expenses for both health and dependent care FSA funds on the WageWorks website². To make shopping for eligible expenses easier, visit the online FSA Store for the largest selection of guaranteed FSA-eligible products. And remember, managing your WageWorks account is quick and easy with the WageWorks EZ receipts app. You’ll love the convenience of submitting claims, uploading receipts and checking account balances directly from your phone.

What if I still have funds left over from my 2019 FSA?

Not to worry – if you still have funds left over from your 2019 FSA, you have until March 15, 2020 to use these funds and until April 30, 2020 to submit claims. Find more information on the HR website.

Questions? For more detailed information contact WageWorks at 877-924-3967 or visit the WageWorks website. For plan eligibility questions contact the HR Solutions Center at SolutionsCenter@hr.msu.edu or 517-353-4434.

¹ Assumes a combined tax rate of 30%, including FICA, state, and federal income taxes. Actual amounts may vary.

²Some items may require a doctor’s prescription or other documentation from your doctor. Please see your account details for more information.

Your Open Enrollment Checklist

Published on September 9, 2019October 11, 2019 by Megan MacGregorLeave a comment

October is here, which means the Benefits Open Enrollment period (October 1-31, 2019) has officially begun for benefits-eligible employees. Make sure you enroll in the best benefits plans to fit the needs of you and your family for the 2020 plan year (Jan.–Dec.). Use the following checklist to help guide you through Open Enrollment and be sure to make your selections now through October 31, 2019.

1. Double Check Your Benefits Needs
During Open Enrollment, you may enroll in, change, or cancel coverage for the following benefits:

Health
Dental
Flexible spending accounts (health and/or dependent care)
Life insurance
Some voluntary benefits, like vision, legal or critical-illness insurance

Make sure you review the Open Enrollment guides carefully and choose the best benefits plans for your family. Remember, you also have access to various voluntary benefits, like vision insurance. Find the Open Enrollment guides on the HR website.

Need help deciding which health plan is right for you? Try asking ALEX, the virtual benefits counselor. This tool is designed for MSU employees and allows you to enter your personal family needs and info (completely confidential) and then provides you with an easy-to-understand summary of your best benefits options. Find links to the ALEX tool on the HR website.

2. Do you cover a spouse/other eligible individual (OEI) on your benefits? Complete the Affidavit.

If you have a spouse/Other Eligible Individual (OEI) that you cover on your benefits plan, you MUST complete the affidavit online through the EBS Portal every year. Find instructions for completing the affidavit as part of Open Enrollment here.

3. Review the Changes for Next Year’s Plans

Changes for the 2020 plan year:

Increase to the premium threshold for spousal affidavit: If your spouse/OEI has access to health care coverage through their own current or former employer, they must purchase the coverage their own employer offers if the annual employee premium cost for single-person coverage is $1,400 or less. You may still cover your spouse/OEI on your MSU health coverage as a secondary plan.
Aetna DMO co-pay changes for dental: Support staff employees should note that some Aetna DMO co-pays, including orthodontics, have increased to ensure employees eligible for the plan continue to receive the full MSU contribution to the monthly premium rate. Co-pays have not changed for the Aetna Premium DMO plan. Find co-pays by plan in the Support Staff Open Enrollment Guide.

4. Make Your Changes Online Before the October 31 Deadline

If you want to make changes to your benefits selections – or you cover a spouse or Other Eligible Individual (OEI) on your benefits plan – you must do so during the Open Enrollment window: October 1 – 31, 2019. If you don’t make the deadline, you won’t be able to make any changes to your benefits unless you experience a qualifying life-changing event (like a marriage, divorce, birth, etc.). NOTE: instructions for completing Open Enrollment this year have changed. Find instructions for completing Open Enrollment here.

5. Come Visit Us for In-Person Assistance

We want you to feel confident that you’re making the best choices for you and your family. Consider attending one of the in-person site labs this October to talk to a Human Resources (HR) representative, understand your benefits options and even enroll in your benefits on-site.

HR Site Labs – HR staff are available to answer your benefits questions and help you enroll on-site! Visit us between 8 a.m. to 5 p.m. on October 22, 28, and/or 31 at the Nisbet Building, Room 125. Find parking info on the HR website.

We hope this checklist is helpful! Remember, everything you need to know about Open Enrollment is available on the HR website Open Enrollment page, including links to the appropriate benefits guide, ALEX virtual benefits counselor, and detailed benefits information.

Questions? We’re happy to help! Call or email the HR Solutions Center at 517-353-4434 or SolutionsCenter@hr.msu.edu.

Tips for using your MSU benefits to support breastfeeding

Published on August 6, 2019August 6, 2019 by MSU Human ResourcesLeave a comment

Are you or someone in your household expecting and planning to breastfeed, currently breastfeeding, or interested in breastfeeding in the future? As you explore questions about breastfeeding, think about what your health insurance might cover. If you’re a benefit-eligible MSU employee, MSU HR put together some tips and reminders to help.

MSU’s employee plans all cover breastfeeding supplies to some extent – that’s Community Blue, Blue Care Network (BCN) and the Consumer Driven Health Plan with the Health Savings Account. The one exception to this is if you have BCN and are trying to get equipment from a provider who doesn’t have a contract with BCN, you’ll have to cover that yourself.

Steps to get breastfeeding supplies

In health care lingo, breastfeeding supplies are part of what’s referred to as “Durable Medical Equipment.” Typically, breastfeeding supplies include the pump package, so the pump and whatever typically comes with it (breast milk storage bags, bottles, nipples, etc.). What comes with the kit depends on which brand is offered. How do you know?

Step One: Contact your health care provider and ask for the name and contact info for a durable medical equipment provider located near you. In addition to a store you can visit in-person, sometimes you can get the contact info for a mail order service.

Step Two: Contact the durable medical equipment provider to find out which brand(s) they carry. Many providers only carry one brand, so this may help you decide where you want to go to get your pump.

Step Three: Get a prescription. For breastfeeding supplies? You got it! You can ask your OB-GYN or physician to write this prescription. They can even fax it right to the equipment provider you’ve selected or you can take it in-person.

Other tips:

If you have a pump you’ve used before, your health insurance isn’t going to cover getting the replacement parts. Replacement parts are eligible expenses under a flexible spending account (FSA) (see more info below). If your pump no longer works, most health insurance providers will cover a new breast pump kit after a certain period (example: BCN covers a new pump after 24 months).
Cleaning supplies for the pump or pump parts are not covered.
Extra bags, bottles, nipples, etc. are not covered, only those that already come with the pump.

Other resources

MSU does offer some additional resources related to breastfeeding you may find helpful.

Flexible spending accounts (FSA)

The health care FSA through WageWorks can be used for some breastfeeding expenses including breast pumps, pump supplies and breastfeeding classes. Even though you’re still picking up the cost of these expenses, by using the health care FSA, the money is pre-tax, which means you’re saving an average of 30%. Make it even easier by using the FSA Store online at fsastore.com for everything from baby monitors to nursing pads and baby thermometers. Learn more about FSAs on the HR website.

Life changes

Chances are if you’re thinking about breastfeeding, you’re planning on a life change or have already experienced one. Don’t forget these steps for making changes to your benefits.

WorkLife Office

The MSU WorkLife Office is a great breastfeeding resource for employees. They offer classes, support, a breastfeeding room location map, and more. Check out these resources on the WorkLife website.

Growing a family comes with a lot to plan for, and breastfeeding can be at the top of that list. Hopefully, these tips and hints can help you and your family navigate through that journey a little easier.

How to Save Money on Common Household Expenses

Published on July 9, 2019July 17, 2019 by Megan MacGregorLeave a comment

The average Michigan worker spends about 19% of their family income on child care each month (Marx, 2019) and a significant amount on out-of-pocket medical costs for their families. If your family has child/elder care and/or health-related costs, how would you like to save an average of 30% on these common household expenses? Flexible spending accounts (FSA) allow you to use pre-tax dollars to pay for eligible expenses, offering you a sound strategy to save money on items or services you use every day.

MSU is happy to offer benefits-eligible employees the option to enroll in two types of FSAs: Dependent Care FSA and/or Health Care FSA. You will manage your FSA directly with WageWorks, MSU’s plan administrator.

What’s the Difference Between the Dependent Care FSA and Health Care FSA?

Good question! Make sure you know the eligible expenses each FSA plan allows you to use your pre-tax money on before you enroll in one or both plans.

This graphic lists some of the eligible expenses for the two types of flexible spending accounts employees can enroll in: Dependent Care FSA and Health Care FSA. For the Dependent Care FSA, eligible expenses include child care, elder care, preschool, summer day camp, before/after school programs, and nursery school. For Health Care FSA eligible expenses include: medical/dental plan deductibles/co-pays, eyeglasses, hearing aids, orthodontics, first aid kits, allergy medication, bandages, pain relievers, and much more!

When you enroll in the FSA, you’ll decide how much money you’d like to contribute to it. This money will be deducted from your paycheck (pre-tax) and divided over each pay period throughout the plan year. You can read more about maximum contribution limits on the HR website.

Ready to Enroll?

You can only enroll in an FSA during the MSU Benefits Open Enrollment period in October each year unless you experience a qualifying life event (death, birth, marriage, divorce, etc.) or you are a newly hired/eligible employee. You have 30 days from your hire date or qualifying life event to enroll in an FSA plan.

Before you enroll, make sure you take some time to understand each plan and estimate how much you are likely to spend on eligible expenses throughout the plan year. Please note: according to IRS requirements, any unused funds left in your account at the end of the plan year will be forfeited, so please plan conservatively. Learn more about FSAs – including contribution limits, deadlines, and eligible expenses – on the HR website.

Questions? Visit the WageWorks website or call 877-924-3967. You can reach MSU Human Resources at SolutionsCenter@hr.msu.edu or 517-353-4434.

Marx, B. (2019, May 22). These Maps Show the Average Cost of Child Care in Each State. Retrieved from https://www.fatherly.com/news/maps-average-cost-childcare-us/

Tag: flexible spending account

Did You Sign Up for an FSA for 2021? Find Tips and Resources to Get Started!

What if I still have funds left over from my 2020 FSA?

Like this:

Save an Average of 30% on Common Household Expenses

Should I enroll in both FSA types?

Dependent Care FSA Eligible Expense Examples:

Health Care FSA Eligible Expense Examples:

How to Enroll

Like this:

Money-Saving Tip: Use Your FSA Funds to Prepare for Summer Fun!

Tips for Health Care FSA Funds

Tips for Dependent Care FSA Funds

Like this:

Your Health Care Flexible Spending Account: Updates and Money-Saving Tips

New Items Added to the Eligible Expenses List

Shop for Eligible Expenses from Home – Delivered Right to Your Door

How Can I Enroll in a Health Care FSA?

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Deadline to Use 2019 FSA Funds Approaching!

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Tips to Use Your Flexible Spending Account Funds

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Your Open Enrollment Checklist

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Tips for using your MSU benefits to support breastfeeding

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How to Save Money on Common Household Expenses

What’s the Difference Between the Dependent Care FSA and Health Care FSA?

Ready to Enroll?

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What if I still have funds left over from my 2020 FSA?

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Should I enroll in both FSA types?

Dependent Care FSA Eligible Expense Examples:

Health Care FSA Eligible Expense Examples:

How to Enroll

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Tips for Health Care FSA Funds

Tips for Dependent Care FSA Funds

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New Items Added to the Eligible Expenses List

Shop for Eligible Expenses from Home – Delivered Right to Your Door

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