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Flexible Spending Accounts

Flexible Spending Accounts (FSAs) reduce your taxable income by allowing you to set aside pre-tax dollars to use toward eligible health care and dependent day care expenses throughout the year. This pre-tax deduction lowers your taxable income, reducing the amount of tax you owe on your bi-weekly paycheck. You do not have to be a member of the Boone Health medical, dental or vision plan to enroll in an FSA.

Boone Health offers you two types of FSAs, both administered by Wex Benefits (formerly Discovery).

Health Care FSA

  • Reimbursement of eligible health care expenses for you and your dependents.
  • Elect up to $3,200 for 2024.
  • Qualified expenses include medical, dental, vision, hearing, and other health-related costs, such as copayments and deductibles; over-the-counter medications and supplies are eligible.
  • Deadline to submit claims is March 31 of the following year.
  • Carry over $50 to $640 of unused funds to 2023 (funds available mid-April)

Dependent Care FSA (day care)

  • Reimbursement of eligible day care expenses for children under 13.
  • Reimbursement for eligible care expenses for your disabled spouse or disabled dependent of any age.
  • To be eligible for this account, you must be working. If you are married, your spouse must be working, looking for work, be a full-time student, or be incapable of self-care.
  • Elect up to $5,000 (combined household limit).
  • Qualified expenses include before-and-after school programs, nursery or preschool, summer day camp, and adult care.
  • Deadline to submit claims is March 31 of the following year.
  • No carry over; “use it or lose it” rule applies.
  • Grace period to incur services is 2 ½ months following the end of the plan year

Manage your FSA

Manage your FSA on the WEX website or by using their mobile app. There you can check your balance, file claims, request direct deposit and more. Make claim submissions via web, mobile app, fax, or U.S. mail. View a list of eligible expenses here.

WEX FSA Card

The WEX FSA Card is like a debit card since it electronically accesses your Health Care and Dependent Day Care FSA account when used to pay for eligible expenses. It’s a convenient way to pay for health care and dependent day care purchases.

Have questions about FSAs or the WEX FSA Card? Speak to or live chat with a WEX representative at 866.451.3399, 6 a.m.-9 p.m. (CST) Monday-Friday or email customerservice@discoverybenefits.com.

Benefits / Insurance