All you need to know to make the most of your WageWorks pre-tax benefits
Save Money on Everyday Healthcare Expenses
Save Money on Child and Elder Care Expenses
Save on Medical Expenses for Today, Tomorrow, or Retirement
By Reducing Your Taxes
WageWorks benefits are designed to help you save money on essential expenses like healthcare, child and elder daycare, and commuting.
It's simple. WageWorks helps you set aside pre-tax money each month from your paycheck into one or more tax-advantaged accounts.
You can then spend the money from these accounts on eligible expenses. In the end, you save money because you pay for essential expenses with money that’s tax free. You take home more money by paying fewer taxes. And you do it with minimum hassle.
An example of how you can save:
|Your Estimated Tax Savings|
|Without Healthcare FSA||With Healthcare FSA|
|Gross annual pay (estimate)||$60,000||Gross annual pay (estimate)||$60,000|
|Estimated tax rate (30%)||-$18,000||Max. annual Healtcare FSA contribution||-2,600|
|Net annual pay||=$42,000||Adjusted gross pay||=$57,400|
|Estimated annual healthcare expenses||-$2,600||Estimated tax rate (30%)||-$17,220|
|Final take-home pay||=$39,400||Final take-home pay||=$40,180|
Take home this much more with a Healthcare Account $780
Check Out How Easy It Is
Using your WageWorks account is as easy as 1-2-3: