Tag: fsa

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Your Benefits: End-of-Year Checklist 

Published on by MSU Human ResourcesLeave a comment

The end of the year is fast approaching! While you probably don’t need one more task on your to-do list, make sure you’ve used all your 2025 plan year benefits before the year ends.   

  1. Schedule appointments for any missed annual check-ups: If you’re behind on annual check-ups or screenings—such as a wellness exam, dental cleaning, or vision exam—consider scheduling appointments before the end of the year.  
  1.  Be proactive in case of illness: Teladoc is an online medical care service that gives you 24/7 access to a health care professional via the web, phone, or mobile app in minutes. A doctor can even write you a prescription if necessary. Enroll in Teladoc now so you’re prepared when illness strikes.  Available to employees and their dependents who are enrolled in an MSU health plan.  
  1. Note flexible spending account (FSA) deadlines for 2025 plan year funds: If you are enrolled in a health care or dependent care FSA for the 2025 plan year, you have a grace period in 2026 to use these funds. Be sure to use 2025 plan year funds by March 15, 2026, and submit your receipts by April 30, 2026. If you miss the grace period deadline, the IRS requires you to forfeit any unused funds, so plan your remaining expenses for the coming months. View FSA information.  
  1. Review your retirement contributions: The IRS sets new retirement contribution limits each year (the 2026 limits will be shared in January). Make sure you’re saving as much as you can by reviewing the 2025 IRS retirement contribution limits and adjusting contributions for the remainder of the year, if needed.  
  1. Take advantage of special employee discounts for holiday shopping: Visit the MSU Benefits Plus website for deals and discounts on everything from travel and experiences to electronics and toys. 
  1. Schedule any vacation/personal PTO: Taking time to rest and reset is important to maintain your health. Make sure you use all your paid time off (PTO) by planning and scheduling your time off in advance with your supervisor’s approval. This year, the full Winter Break (including Christmas and New Year’s holidays) extends from Thursday, December 25, through Friday, January 2. View the Holiday Schedule for more details. 
  1. Use educational assistance funds: Support staff and academic specialist employees have access to educational assistance funds to use toward professional development opportunities. These funds reset each fall, so don’t miss out. If you’re looking for learning opportunities this year, it’s not too late to sign up for a course offered by HR’s Organization and Professional Development department.    

We hope this list will help keep you on track as you plan how you and your family will use your employee benefits for the rest of the year. You can learn more about all these benefit options on the HR website.   

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Save Money on Common Household Expenses with an FSA 

Published on by Abigail MillerLeave a comment

As you review your benefit options for the coming year during Open Enrollment (October 1 to 31), consider whether a flexible spending account (FSA) makes sense for your family. We all spend money on medical expenses such as prescription and office visit copays, dental work, and over-the-counter items like bandages. And many families spend thousands of dollars each year on child or adult care. 

If you are looking for ways to save money on caregiving costs and/or medical care expenses, enrolling in an FSA is a sound strategy. An FSA allows you to use pre-tax dollars to pay for eligible expenses, such as child care or health care costs like copays. In fact, using FSA funds for these types of expenses can save you an average of 30%!1  

MSU offers benefits-eligible employees the option to enroll in two 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 provider, HealthEquity.  

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 or adult care  
  • Virtual or in-person camps  
  • Before or after-school programs  
  • Nursery school  

Health Care FSA Eligible Expense Examples:  

  • Medical or dental deductibles and copays  
  • Pain medication  
  • Menstrual care products  
  • Bandages  
  • Hearing aids  
  • Allergy medications  
  • Orthodontics  

Before You Enroll 

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.  

Here are the contribution limits for the 2026 plan year: 

  • Dependent Care FSA: A household may contribute up to $7,500. If you and your spouse/other eligible individual (OEI) both have a Dependent Care FSA, combined household contributions cannot exceed $7,500 at MSU or another employer. 
  • Health Care FSA: An individual may contribute up to $3,300. If both you and your spouse/OEI have a Health Care FSA, you each may contribute up to $3,300. 

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. 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 fund availability, reimbursement options, grace period deadlines, and eligible expenses – on the HR FSA webpage.  

Please Note: Due to IRS regulations, you are unable to participate or have a balance in a Health Care FSA if you enroll in the Health Savings Account offered with the Consumer Driven Health Plan. 

How to Enroll  

Please review these two FSA plan options and enroll – or re-enroll – in an FSA during the Open Enrollment period in October. If you’re currently enrolled in an FSA for the 2025 plan year, you must re-enroll if you’d like to continue participating in an FSA for the 2026 plan year. Find instructions for how to enroll in an FSA as part of Open Enrollment here.   

Questions? HR staff will be available at the MSU Benefits Fair and the HR Site Labs throughout October. You may also visit the HealthEquity website or call HealthEquity at 877-924-3967. MSU Human Resources is available at SolutionsCenter@hr.msu.edu or 517-353-4434 (toll-free: 800-353-4434). 

1Example for illustration only. Actual savings vary. The figure is based on average tax rates, including state, federal and FICA taxes. Source: (n.d.). Open Enrollment Center. HealthEquity. Retrieved September 8, 2025, from https://www.healthequity.com/learn. 

Beach ball floating in a pool.

Make More Time for Fun with These Summer Health Tips

Published on by Abigail MillerLeave a comment

Whether you’re planning a road trip, family picnic, or trip to the lake, there is so much to do in Michigan during the summer months. While these events can provide a ton of fun for your family, there are ways to make summer safer.

Tips for a Healthy Summer

Here are some tips to help keep you safe, stay informed, and keep the fun times rolling:

  • Sun Protection: Stay in the shade when you can, wear a hat, and don’t forget about the sunscreen (at least SPF 15 is recommended for sun protection).
  • Stay Hydrated: Beat the summer heat and drink plenty of water.
  • Insect Protection: The best way to prevent mosquito bites and ticks is to wear insect repellent and long sleeves or pants. Check your clothing, body, and pets when you go inside!
  • Keep Cool: Take breaks from direct sunlight and use fans or air conditioning when needed. Take note of weather forecasts and plan events accordingly.

In addition to these tips, if you participate in a flexible spending account (FSA) you can use your funds to help pay for common summer necessities and 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!

Are you 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. Check out their monthly coupons and promo codes for additional savings.

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.

Sources:

Health Equity app

Did You Sign Up for an FSA for 2025? Find Tips and Resources to Get Started.

Published on by MSU Human ResourcesLeave a comment

Welcome to 2025 and your flexible spending account (FSA) funds! If you signed up for a 2025 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 adult daycare, preschool, and before/after school programs. Find a complete list of eligible dependent care expenses here.

If you have a Health Care FSA, you can purchase various products and services with pre-tax dollars – which means it’s like a 30% off sale on eligible expenses. 1Find a complete list of eligible health care expenses here. Some items2 you may not know about include:

  • Allergy medication
  • Anti-bacterial hand sanitizer
  • Bandages
  • Braces
  • Breastfeeding classes
  • Cough syrup
  • Eyeglasses
  • Feminine Care Products
  • First-aid kits
  • Hearing aids
  • Humidifier/air filter
  • Pain relievers
  • Pregnancy tests
  • Prescriptions
  • Smoking cessation drugs
  • Sunscreen
  • Thermometer

To make shopping for eligible health care FSA expenses easier, visit the online FSA Store for the largest selection of guaranteed FSA-eligible products.

Managing Your FSA Account

Managing your HealthEquity/WageWorks account is quick and easy with the 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 2024 FSA?

Not to worry – if you still have funds left over from your 2024 FSA, you have until March 15, 2025, to use these funds and until April 30, 2025, to submit receipts to substantiate these claims.

How Do I Sign Up for an FSA?

Benefits-eligible employees are eligible to enroll in an FSA during Open Enrollment in October each year or if they experience a qualifying life event.

Questions? For more detailed information contact HealthEquity 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.

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

Using a calculator

Did You Sign Up for an FSA for 2024? Find Tips and Resources to Get Started.

Published on by Megan MacGregorLeave a comment

Welcome to 2024 and your flexible spending account (FSA) funds! If you signed up for a 2024 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 adult daycare, preschool, and before/after school programs. Find a complete list of eligible dependent care expenses here.

If you have a Health Care FSA, you can purchase a variety of products and services with pre-tax dollars – which means it’s like a 30% off sale on eligible expenses.1 Find a complete list of eligible health care expenses here. Some items2 you may not know about include:

  • Allergy medication
  • Anti-bacterial hand sanitizer
  • Bandages
  • Braces
  • Breastfeeding classes
  • Cough syrup
  • Eyeglasses
  • Feminine Care Products
  • First-aid kits
  • Hearing aids
  • Humidifier/air filter
  • Pain relievers
  • Pregnancy tests
  • Prescriptions
  • Smoking cessation drugs
  • Sunscreen
  • Thermometer

To make shopping for eligible health care FSA expenses easier, visit the online FSA Store for the largest selection of guaranteed FSA-eligible products.

Managing Your FSA Account

Managing your HealthEquity account is quick and easy with the 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 2023 FSA?

Not to worry – if you still have funds left over from your 2023 FSA, you have until March 15, 2024, to use these funds and until April 30, 2024, to submit receipts to substantiate these claims.

How Do I Sign Up for an FSA?

Benefits-eligible employees are eligible to enroll in an FSA during Open Enrollment in October each year or if they experience a qualifying life event. Be sure to take note of which FSA you’re interested in for the next Open Enrollment period.

Questions? For more detailed information contact HealthEquity 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.

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

FSA Deadline Reminder for 2022 Funds

Published on by Megan MacGregorLeave a comment

Do you still have funds left over from your 2022 flexible spending account (FSA)? If you signed up for a health care FSA, dependent care FSA or both in 2022 and still have funds remaining in your account, you have a grace period in 2023 to use these funds.

The grace period gives you time to purchase new products or services before you forfeit unused 2022 funds. Don’t lose your money! Take note of the following important deadlines:

  • March 15, 2023: this is the last day you can incur qualified expenses on your 2022 FSA plan.
  • April 30, 2023: this is the last day you can submit your claims to HealthEquity/WageWorks, MSU’s FSA plan administrator. You can do this via your HealthEquity/WageWorks account or the WageWorks EZ receipts app.

The IRS requires you to forfeit any unused 2022 funds after the deadline, so be sure to spend your money and submit claims.

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. Find a complete list of eligible dependent care expenses here.

If you have a Health Care FSA, you can purchase a variety of products and services with pre-tax dollars. Find a complete list of eligible health care expenses here. If you need ideas for what to use your health care FSA funds on, check out the FSA store. 

Questions? Please contact HealthEquity/WageWorks directly at 877-924-3967 or visit the HealthEquity/WageWorks website to learn more about how to use your leftover 2022 funds before the deadline. You can learn more about FSAs on the HR website.