A Flexible Spending Account allows you to use tax-free dollars to pay for certain kinds of benefits and expenses which you normally pay for with out-of-pocket, taxable, dollars. You can elect to participate in the Health and/or Dependent Care FSA(s) as well as the mass transit and/or parking commuter benefits by contributing pre-tax dollars from your paycheck each pay period. These dollars get deposited into your account, saving you money by reducing your taxable income.
The Health Care FSA allows you to pay for eligible health-related expenses* such as co-pays, prescriptions, dental services, vision care. The 2026 IRS annual contribution limit is $3,400. You can incur expenses from your participation date through March 15th of the following plan year (Grace Period). Funds are available day one of participation. All expenses & receipts must be submitted by April 30th of the following plan year or else your remaining balance will be forfeited.
*The IRS determines what is considered an eligible FSA expense. For a list of eligible expenses visit www.wexinc.com/insights/benefits-toolkit/eligible-expenses
The Dependent Care FSA allows you to pay for eligible dependent care expenses*for children under age 13 or a disabled spouse/dependent of any age. This FSA is NOT for health-related expenses for your dependents.
The 2026 IRS annual contribution limit is $7,500 per household. You can incur expenses from your participation date through December 31 of the current plan year. Funds are available as you contribute from your paycheck. All expenses & receipts must be submitted by April 30th of the following plan year or else your remaining balance will be forfeited.
The Commuter Benefits FSA allows you to set aside pre-tax dollars for eligible mass transit and/or parking expenses.
The 2026 IRS contribution limit is $340 per month for both transit and parking. Any unused balance will rollover each month while actively employed. You have 180 days from the date you incurred an expense to submit a claim for reimbursement.
Please find the Benefits Guide Link below and refer to page 14 details regarding FSAs.