RSI FSA Instructions

Flexible Spending Account — Real Savings. Real Simple. Using a Flexible Spending Account (FSA) is great way to WITH AN FSA YOU CAN: stretch your benefit dollars. You use before-tax dollars in your An FSA is a great way to pay for expenses with pre-tax dollars. FSA to reimburse yourself for eligible out-of-pocket medical • Enjoy significant tax savings with pre-tax deductible and dependent care expenses. That means you can enjoy tax contributions and tax-free reimbursements for savings and increased take-home pay—all with the qualified plan expenses convenience of a prepaid benefits card. Plus you can rollover $610 from one year to the next, reducing your risk of losing • Quickly and easily access funds using the prepaid benefits dollars at the end of the plan year. card at point of sale, or request to have funds directly deposited to your bank account via online or mobile app WHAT IS AN FSA? • Reduce filing hassles and paperwork by using your prepaid benefits card With an FSA, you elect to have your annual contribution • Enjoy secure access to accounts using a convenient deducted from your paycheck each pay period, in equal Consumer Portal available 24/7/365 installments throughout the plan year, until you reach the • Manage your FSA “on the go” with an easy-to-use mobile yearly maximum you have specified. The amount of your pay app that goes into an FSA will not count as taxable income, so you will have immediate tax savings. FSA dollars can be used during • File claims easily online (when required) and let the the plan year to pay for qualified expenses and services. system determine approval based on eligibility and • A Healthcare FSA allows reimbursement of qualifying availability of funds out-of-pocket medical expenses. • Stay up to date on balances and action required with • A Dependent Care FSA allows reimbursement of automated email alert and convenient portal and mobile dependent care expenses, such as daycare) incurred by home page messages eligible dependents. • Get one-click answers to benefits questions • Use it or Roll It Over. And now up to $610 of your unused healthcare Flexible Spending Account balance can be carried over into the next plan year instead of you “losing it” - making enrollment in an FSA much less risky. This gives you more flexibility to spend your FSA money when With all FSA account types, you’ll receive access to a secure, you need it. You can use it for necessary out-of-pocket easy-to-use web portal where you can track your account healthcare expenses, rather than feeling pressured to balance, view your investment accounts and submit requests engage in last minute and potentially unnecessary for reimbursements. spending at the end of the year. In addition, you’ll receive a convenient prepaid benefits card to make it easy to pay for eligible services and products not covered by your health insurance. When you use the card, payments are automatically withdrawn from your account. Just swipe the card and go. It’s that easy! Save your receipts! Most expenses can be validated through the card transaction, but you may be prompted to provide a copy of the receipt for certain transactions in accordance to IRS regulations. When required, receipts can be easily sent uploaded to either the consumer portal online or, through the mobile app. It’s as simple as taking a picture of the receipt using the camera on your mobile device! ©2019 All Rights Reserved WEX, Inc.