Flexible Spending Accounts (FSAs)

Flexible Spending Accounts (FSAs) help you save money on health care and dependent day care expenses. For 2024, the FSAs will be administered by Benefit Wallet. For 2025, the FSAs will be administered by HealthEquity.

Health Care FSA

With the Health Care FSA, you can pay for eligible medical, dental, vision, and hearing expenses that are not covered by another health plan. You can use the account for yourself, your spouse, and your eligible dependents. You can enroll in an FSA even if you don’t enroll in any other Conduent benefits.

How It Works

  • Know if it’s right for you. You can use the Health Care FSA as long are you are not enrolled in the Consumer Choice Plan or another high deductible health plan through your spouse/domestic partner. The Health Care FSA is not available in Puerto Rico.

  • Decide how much to contribute. The money for Health Care FSA is taken out of your paycheck before taxes.

    • For 2024: You can contribute up to $3,050 per year.

    • For 2025: You can contribute up to $3,250 per year.

  • Pay for eligible expenses. You can use your FSA debit card to pay for care. You can also pay the expense out of pocket and request reimbursement online. You have access to the full amount you contribute for the year upfront.

    • For 2024: Request reimbursement online at mybenefitwallet.com or through the BenefitWallet mobile app.

    • For 2025: Request reimbursement online at my.healthequity.com or through the HealthEquity app.

Eligible Expenses

The Internal Revenue Services (IRS) determines eligible expenses. For a complete list of covered expenses, visit irs.gov/publications/p502.

Eligible expenses include:

  • Copays, deductibles, and coinsurance

  • Dental expenses, such as orthodontia, crowns, and bridges

  • Vision expenses, such as LASIK eye surgery, glasses, and contacts

  • Prescription drugs

  • Certain over-the-counter medications to treat an illness or injury, such as pain relievers, antacids, allergy and sinus medicine, pain relievers, and cold medicine

  • Weight loss programs prescribed by your doctor to treat a specific medical condition

  • Stop smoking programs prescribed by your doctor to improve your health

 

Get the Tax Savings

When you use your FSA money for eligible expenses, you pay no taxes. But make sure you keep your receipts! If you’re asked to verify expenses and you don’t have the receipt, you’ll have to repay the expense — or it will become taxable income.

Dependent Care FSA

The Dependent Care FSA helps you save money on dependent day care expenses so you and your spouse can both work or attend school full-time. You can’t use the Dependent Care FSA to pay for a dependent’s health care expenses — it can be used for dependent daycare expenses only.

How It Works

  1. Know if it’s right for you. You can use a Dependent Care FSA if you have dependent day care expenses so you (and your spouse, if married) can work, look for work, or attend school full- time.

  2. Decide how much to contribute. You can contribute up to $5,000 per year to the Dependent Care FSA ($2,500 if you are married and file separate tax returns). If you’re considered a highly compensated employee for 2024 and/or 2025, your contribution will be limited to $1,075 for the Dependent Care Account in 2025. The money is taken out of your paycheck before taxes.

  3. Pay for eligible expenses. You pay the expense out of pocket and request reimbursement online. You must have the money in your account before you can receive reimbursement.

    • For 2024: Request reimbursement online at mybenefitwallet.com or through the BenefitWallet mobile app.

    • For 2025: Request reimbursement online at my.healthequity.com or through the HealthEquity mobile app.

Eligible Expenses

You can use the Dependent Care FSA to pay for expenses for:

  • Your children under age 13 who qualify as dependents on your federal tax return

  • A spouse or unmarried child of any age who is physically or mentally incapable of self-support

  • Other family members who are physically or mentally incapable of self-support, who live with you for more than half the year, and who qualify as dependents on your federal tax return

Eligible expenses include:

  • Nursery schools

  • Licensed day care centers for children and disabled dependents

  • After-school care and services from a care provider (must be age 19 or older and not claimed as a dependent on your federal tax return)

For a complete list of covered expenses, visit irs.gov/publications/p503.

Know the Rules

  • Estimate carefully. Your FSA elections are effective from January 1 through December 31. You can’t change your election during the year or stop participating unless you have a qualified life event.

  • Re-enroll each year. FSA elections do not automatically continue from year to year — you must actively enroll each year.

  • Use it or lose it! You will lose any FSA money you don’t use by December 31 of each year. Claims for reimbursement must be postmarked by April 15 of the following year.

  • The accounts are separate. You can’t transfer money between the accounts or use the Dependent Care FSA to pay for health care expenses for your dependents or vice versa.

  • Keep your receipts. Make sure you keep your receipts in case you need to verify your purchase. Watch your email, home mail, and inbox on the BenefitWallet website to see if you need to submit receipts. If required documents are not received within 45 days of your transaction, you may have to pay taxes on these funds (and for the Health Care FSA, your debit card may be suspended).

Manage Your Account

Use the Tools

Use the FSA tax savings calculator to find out how much you could save on taxes.

Run the numbers