Flexible Spending Accounts (FSA) allow employees to set aside pre-tax dollars for medical, dental, vision and dependent care expenses. Employees on average can save 30% depending on their tax bracket by funding their medical expenses through an FSA. Employers will save 7.65% in FICA and FUTA taxes with every dollar of salary directed to an FSA.
Health Reimbursement Accounts (HRA) are employer-funded health benefit plans that reimburse participants for out-of-pocket medical expenses. Using HRA’s will yield tax advantages that offset healthcare costs for both employees and employers.
Health Savings Accounts (HSA) are tax-favored accounts used in conjunction with a High Deductible Health Plan or HDHP. These accounts allow employees to contribute funds on a pre-tax or tax-deductible basis. Funds can then be used to pay for eligible medical expenses or for items in the HSA Store.
Use this tool to determine an Annual FSA Contribution Amount and to estimate tax savings.Health FSA FAQ - 2020
The WEX Health Debit Card is a special-purposed MasterCard that gives you an easy, automatic way to pay for eligible health care expenses set aside in your respective employee FSA.HSA Calculator
Use this tool to determine how much your HSA will be worth over time and to estimate tax savings.HDHP HSA vs. Traditional Health Plan
Use this tool to see how an HDHP and HSA compare to a traditional health plan.Direct Deposit Election Form
Complete and submit this form to have FSA reimbursements deposited directly in to your bank account.
*Not available for all plans.
Learn more about how TPSC allows reimbursement for pre-paid orthodontia expenses based on the orthodontic treatment plan and/or payment arrangement contract.Table of Common Dependent Care Assistance Program (DCAP) Expenses
Find out which expenses qualify for reimbursement by DCAP.Table of Common FSA/HRA/HSA Eligible and Ineligible Expenses
Find out which expenses qualify as medical care under Code §213(d) for purposes of reimbursement by an FSA, HRA or HSA.TPSC Letter of Medical Necessity
Complete and submit this form for any dual-purpose expense for which you are requesting reimbursement.