One of the benefits of being a TexFlexSM
participant is that you can save money for expenses you know you’ll have throughout the plan year for health care, dependent care and/or commuting–or all of the above–and lower your taxable income in the process!
Pre-tax payments benefit you! In FY19, for example, pre-tax payments for health insurance premiums and to TexFlex FSAs resulted in estimated combined savings of $132 million in federal taxes for participants. (See Fiscal Year 2019 ERS at a Glance.)
Find out how much is left in your TexFlex account
If you want to see just how much you’ve set aside in your flexible spending account (FSA) and how much is left, log into your TexFlex online account
. (Please note: If this is your first time accessing TexFlex’s online account services, you will need to register.) Then, click on the account you want to review. Or, you can call TexFlex Customer Care toll-free at (844) 884-2364
, Monday-Friday, 7 a.m. - 7 p.m. CT.
Because we’re about mid-way through the plan year, now is a good time for you to think about how you will use your remaining TexFlex funds. Keep in mind that you have to incur all the expenses for your dependent care FSA account by November 15 (the end of the two-and-a-half month grace period after the plan year ends). For the health care and limited FSAs, you can carry over up to $500 when the plan year ends on August 31. You will forfeit any amount over $500 left in those FSAs after August 31.
Even with the health care and limited account carryover, if you’re worried that you might have to forfeit funds on September 1, don’t forget about FSAstore.com
, which sells thousands of useful health care FSA-eligible items. (Please keep in mind that not all the items available are eligible for limited FSA funds.)
You can use your TexFlex debit card to pay for qualified health expenses from your health care or limited FSA (you cannot use a TexFlex debit card for dependent care expenses), but be sure to keep your receipts. You may be asked to confirm a charge on your card. (For more information, check out "How to validate your TexFlex purchase
Visit this link for an overview of the TexFlex program.
There’s an app for that
Remember, you don’t have to be at your computer to view or submit claims to your TexFlex account. You can use the WageWorks Spending Account (CHSA) mobile app instead.
Just take the following three steps to get the app on your phone:
- Visit the "Google Play Store" or "Apple App Store."
- Search for "Spending Account (CHSA) by WageWorks." WageWorks has many apps, so be sure to select Spending Account (CHSA).
- Click "Install," and that’s it! The Spending Account (CHSA) Mobile App will be downloaded and installed on your phone.