Top 3 Reasons Why You Should Enroll in a WageWorks Healthcare FSA with Carryover

A WageWorks Healthcare Flexible Spending Account (FSA) has always been a great way to save money by using pre-tax dollars to pay for medical, dental, and vision care for you and your family.

A WageWorks Healthcare FSA with Carryover is even better—for lots of reasons. Here are the top three.

Reason #1: Less Risk, Less Worry

With your WageWorks Healthcare FSA with Carryover, you may carry over up to $500 left in your account at the end of a plan year. There’s no “use it or lose it” risk.

Great for Healthcare FSA Rookies

If you’ve never had a Healthcare FSA before, now is the perfect time to try it out. Sign up for a WageWorks Healthcare FSA with Carryover and put at least $500 in your account. Even if you don’t use any of it this plan year, your $500 will be there for you next plan year. You’ll be surprised how easy it is to save money and how easy it is to use your account. Try it, you’ll like it!

Great for Healthcare FSA Veterans

If you’ve had a Healthcare FSA before, you know it’s a great way to save money. The money you put in a Healthcare FSA is not taxed. Assuming you pay a 30% combined state and federal tax rate, this means that you save 30% on healthcare expenses funded through your account.  

With your WageWorks Healthcare FSA with Carryover, there’s no “use it or lose it.” You don’t forfeit money left in your account at the end of the plan year. Any unspent balance of up to $500 will still be there for you in the next plan year.

Worried about estimating? Don’t do it! You no longer have to precisely predict your out-of-pocket medical expenses a whole year in advance. If you enrolled in a Healthcare FSA last year, there’s no reason not to enroll in a WageWorks Healthcare FSA and put more money into it this year.

Great for Healthcare FSA Skeptics

Maybe you’ve had a Healthcare FSA before. Maybe you lost money left in your account at the end of a plan year. Maybe you found your Healthcare FSA to be an administrative pain. Cumbersome. Clunky. More trouble than it’s worth.

Give a WageWorks Healthcare FSA with Carryover a chance. It’s remarkably easy to use. It makes saving an average of 30% on healthcare expenses a breeze. And now that you can carry over up to $500 in your account from one plan year to the next, there’s no risk of losing your hard-earned money. A WageWorks Healthcare FSA with Carryover will make you a believer.

Reason #2: More Flexibility

Your WageWorks Healthcare FSA with Carryover gives you more flexibility. You can spend your money when and how it suits you best. Need a new pair of eyeglasses in December, but you can’t get an appointment to adjust your prescription until January? No problem. You can carry over up to $500 from one plan year to the next.

With a WageWorks Healthcare FSA with Carryover, you can tap into your account to pay for healthcare expenses when they arise, rather than rushing to spend it down at the end of the year (or during the grace period).

Reason #3: More Savings

Your WageWorks Healthcare FSA with Carryover delivers real tax savings. You use pre-tax dollars to pay for doctor and dental office visits, prescription drugs, contact lenses, and more. Money is moved from your paycheck to your FSA before taxes are deducted, which reduces your overall tax burden.

And now you can carry over up to $500 remaining in your account from one plan year to the next, so there’s no reason not to take advantage of the tax savings this year—and every year.

How a WageWorks Healthcare FSA with Carryover Works

A WageWorks Healthcare FSA with Carryover is a great way to save money while keeping you and your family healthy. You can use tax-free funds to pay for out-of-pocket medical, dental, and vision care expenses. Funds are moved to your account before taxes are deducted, which reduces your overall tax burden. And you can carry over up to $500 remaining in your account from one plan year to the next, so there’s no “use it or lose it” risk.

Easy as 1-2-3

Here’s how your WageWorks Healthcare FSA with Carryover works. It’s as easy as 1-2-3.

Step 1 
Decide how much to contribute to your FSA based on how much you plan to spend on out-of-pocket medical, dental, and vision expenses for the year. Don’t worry about estimating. With a WageWorks Healthcare FSA with Carryover, you no longer have to precisely predict your out-of-pocket medical expenses a whole year in advance. You may carry over up to $500 remaining in your account from one plan year to the next.

Step 2
Start saving. Contributions to your FSA are made automatically each pay period before taxes are taken out. You have access to the money in your account on day one. And you may carry over up to $500 left in your account from one plan year to the next.

Step 3
Pay for eligible medical, dental, and vision services using several no-hassle payment and reimbursement options.

• Pay by Card. Use your WageWorks Healthcare Card when you make healthcare-related purchases, such as prescriptions and eye glasses. It’s like a debit card – just swipe and go.
• Pay My Provider. Access your FSA online and fill out a simple form to have WageWorks pay your provider directly. Be sure to save your receipts to submit documentation so your payment will be made. Go to Support FAQs for details.
• Pay Me Back. Arrange for FSA funds to be deposited directly to your checking account or a check to be mailed to reimburse you for expenses you’ve already paid. You will need to submit expense documentation to receive payment. Be sure to save your receipts to submit documentation so your payment will be made. Need more info? Go to Support FAQs for details.