Tag: FSA funds

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.

Make More Time for Fun with These Summer Health Tips

Published on by Josh WorleyLeave 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. And while these types of events can provide a ton of fun for your family, there are ways to make Summer safer, too.

Tips for a Healthy Summer

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

  • Sun Protection: Utilize 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 a lot of water.
  • Insect Protection: The best way to prevent mosquito bites and ticks is to wear insect repellent and to wear long sleeves or pants. Make sure to check your clothing, body and pets when you go inside!
  • Keep Cool: Take breaks from being in direct sunlight and utilize 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/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.

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.

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Don’t forget your Health Care FSA Funds this Holiday Season

Published on by Megan MacGregorLeave a comment

Are you looking for more ways to save money this holiday season? If you have a health care FSA for the 2021 plan year with funds still available, you can save an average of 30% by using pre-tax dollars on eligible expenses. While you still have some time to use 2021 FSA funds in the new year, it’s a good idea to think about your expenses now so you can maximize how you’ll spend any remaining balance.

Consider the following ways your FSA could benefit you and your family this holiday season. Whether you’d like to reduce holiday stress or prepare for New Year’s resolutions, your health care FSA can help. All items listed below are from the FSA Store, which means you can shop worry-free knowing everything is automatically an eligible expense.

Before you place an order, be sure to check out the FSA Store’s monthly coupons and promo codes for additional savings. If you have any questions about your FSA, please contact MSU’s benefit provider HealthEquity/Wageworks directly at 877-924-3967. You can learn more about FSAs on the HR website.