U.S. Flexible Spending Accounts
We know the cost of health care, dependent care, and transportation expenses can add up quickly. WWT offers you a selection of Flexible Spending Accounts (FSAs), which allow you to pay for these expenses with pre-tax dollars and save money, too.
Through your FSA, you can set aside money on a pre-tax basis to use and/or reimburse yourself for eligible expenses. Your pre-tax contributions decrease your federal taxable income, so you pay less in taxes, and you don't pay taxes on the funds used for qualified expenses.
You must re-enroll in Flexible Spending each year during open enrollment!
Health Care FSA: The max amount is $3,050 for the 2024 calendar year. The Health Care FSA can pay for eligible out-of-pocket health care expenses such as health, dental, prescription drug, or vision plan deductibles, co-pays and coinsurance, eyeglasses, contact lenses and hearing aids. Enrollment in WWT's Health Plan is not required to participate in the Health Care FSA.
There is also a list of eligible expenses available.
Dependent Care FSA: You can contribute up to $5,000 per household in calendar year 2024 to the Dependent Care FSA to pay for eligible dependent care expenses such as licensed day-care, preschool or childcare services.
Commuter Transit FSA: All U.S. employees (excluding Hawaii) will be eligible to enroll in employee-paid transportation up to $300 per month via Vantage. Employees can set aside pre-tax dollars to be used for eligible expenses related to bus, subway, train, trolley, meters, garages & lots, Van Pool and Ridesharing (UberPool & LyftShared).
Hawaii Employees Only: Hawaii Employees are eligible to enroll in the Parking Flexible Spending Account. Parking FSA maximum contribution is $300 per month. WWT will cover this cost but employees must enroll to participate.
If you have enrolled in or are considering enrolling in Flexible Spending for 2024, here is some helpful information:
- Visit the mobile app or go to www.padmin.com to view your account details and submit claims. Please see the guides under More Information for important details.
- For questions, call P&A Group at 800-688-2611
- You have a grace period through March 15, 2025 to use funds that you elected for 2024. Funds not used by March 15th will be forfeited. If you still have money to spend before this grace period ends, we recommend checking out fsastore.com