One of the benefits of being a TexFlexSM participant is that you can tuck money away for expenses you know you’ll have throughout the year for health care, dependent care and/or commuting—or all of the above—and lower your taxable income in the process!
If you want to see just how much you’ve set aside and how much you’ve spent, log into your TexFlex account. (If this is your first time accessing TexFlex’s Spending Account Online Services, you will need to register.) Then, click on the account you want to review.
We’re about midway through the plan year, so it 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 account by November 15, 2019 (the end of the two-and-a-half month grace period), but for the health care and limited accounts, you can carry over up to $500 when the plan year ends on August 31.
Even with the health care 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.
You can use your TexFlex debit card to pay for qualified health expenses (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 (see How to validate your TexFlex purchase).
Remember, too, that you don’t have to be at your computer to view or submit claims to your TexFlex account. You can use your smart phone.
- Start by visiting 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 the Spending Account (CHSA) Mobile App will be downloaded and installed on your phone.
Follow this link
for an overview of the TexFlex program.