Flexible Spending Account

{Save Money On Everyday
Healthcare Expenses}

Healthcare Flexible Spending Account

with Grace Period 

A WageWorks® Healthcare Flexible Spending Account (FSA) is a pre-tax benefit account used to pay for eligible medical, dental, and vision care expenses that aren’t covered by your insurance plan.

Spot Photo HC Card Final

Why You Need It

  • Save an average of 30% on a wide variety of eligible healthcare expenses
  • Access the full amount of your account on day one of your plan year
  • Use several convenient, no-hassle payment and reimbursement options

How It Works

Simply decide how much to contribute, and funds are withdrawn from each paycheck for deposit into your account before taxes are deducted. 

Your total annual election amount is available on day one of your plan year.

How You Manage It

With a variety of payment and reimbursement options, your WageWorks Healthcare FSA is easy to use. The convenient WageWorks Healthcare Card associated with your account can be used to pay for hundreds of eligible healthcare products and services for you, your spouse, and your dependents.

Manage your account via a secure website on any computer or mobile device that’s connected to the Internet or via the WageWorks EZ Receipts® app.

It’s important to estimate your annual healthcare expenses and make your contributions carefully. Fortunately, your employer offers a grace period, which allows you to incur expenses up to 2-1/2 months after your plan year ends and maximize your FSA funds. At the end of the grace period, any unused funds will be forfeited.

You can contribute up to a maximum of $2,600 in 2017 to your WageWorks Healthcare FSA. A different limit may apply to you, according to your employer’s plan.

How You Get It

Ready to save? Sign up for a WageWorks Healthcare FSA during your Annual Open Enrollment period.  If you are newly eligible (e.g. new hire), contact the GM Benefits & Service Center today at 800-489-4646!

Save Big with a WageWorks Healthcare FSA

If you make $60,000 a year and make the maximum contribution to your WageWorks® Healthcare FSA, you could take home $780 more in one year. That’s real savings! 

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

All figures in this table are estimates and based on an annual salary of $60,000 and maximum contribution limits to the benefit account. Your salary, tax rate, healthcare expenses, and tax savings may be different.

Calculate your potential savings based on your annual pay, contributions, budget, and spending patterns with FSA Calculator.