May you never need to spend $2,750 on Band-Aids®. If you do, though, your Health Care Flexible Spending Account (HCFSA) has you covered! Use this account to save up to $2,750 tax-free toward out-of-pocket healthcare expenses for you and your eligible family members. It’s easy to set aside money through payroll deductions, and easy to pay, too—just use your convenient WageWorks debit card.
You can enroll in this account and select your contribution every year during Open Enrollment or when you have a qualifying life event. However, you cannot enroll in an HCFSA if either you or your spouse is contributing to an HSA.
When to Enroll
You can enroll as a new hire, during Open Enrollment or when you have a qualifying life event, such as the birth or adoption of a child. You need to enroll in this each year.
How It Works
- Decide how much you want to contribute—up to $2,750 per year.
- Use the money for eligible expenses.
- Pay with your WageWorks debit card at the time of service, or pay out of pocket and submit for reimbursement later.
Eligible Healthcare Expenses
Use the HCFSA to pay for eligible out-of-pocket expenses for yourself and anyone you claim on your tax return as a dependent—even if they’re not enrolled in an Hitachi Vantara medical plan.
Eligible expenses must be:
- Tax deductible, according to the IRS
- Medically necessary and not covered by your medical, dental or vision plans. Examples include:
- Medical expenses, such as copays
- Your share of covered expenses
- Dental and orthodontia expenses
- Prescription glasses, contact lenses and cleaning solution
- Laser vision correction
- Alcoholism or drug addiction programs
- Prescription drugs and drug copayments
- Over-the-counter medications with a prescription from your doctor
WageWorks makes it easy to verify expenses so you keep your account balance up to date.
What You Can Contribute
Contribute up to $2,750 each year.