Year-end health care FSA reminders

Time is running out. Don't forget to use the funds in your flexible spending account, or FSA, before the end of the calendar year. Need help? Check out this comprehensive list of eligible expenses and read the important information about both 2022 and 2023 FSAs below.

Contribution limits

The IRS limit for 2023 recently increased from $2,850 to $3,050 for health care and limited purpose flexible spending accounts.

If you would like to increase your 2023 contribution amount to the new allowed limit, you must email the Benefits Service Center at benefits@jhu.edu no later than Dec. 31, 2022.

• Note "2023 Annual Enrollment Correction" in the subject line.
• Include full details of the correction you are requesting.
• You will receive an email response acknowledging receipt of your request.

Rollover

For the 2022 plan year, any remaining balance of up to $570 (minimum $30) in your health care or limited purpose FSA will carry over into 2023. You will be able to confirm this carryover after the 2022 claims filing deadline of April 30, 2023, by viewing your WEX account. Funds over $570 will be forfeited.

For the 2023 plan year, up to $610 (minimum $30) of unused funds will automatically roll over to your 2024 health care or limited purpose FSA with WEX. Any funds over $610 will be forfeited.

Health care FSA substantiation

Substantiating your debit card purchases is an important part of being enrolled in the health care FSA. Because your FSA must follow IRS rules, it is important that JHU adheres to the guidelines and collects backup documentation when necessary. Keep in mind that if you still have unsubstantiated 2022 debit card claims by Dec. 15, 2022, and you have not responded to WEX, your debit card will not be activated for 2023.

You will receive an email from WEX if you need to submit supporting documentation. Alternatively, you can log into your WEX account or download the WEX mobile app to see if you have any outstanding claims that require documentation before they can be cleared.

Acceptable backup documentation includes an itemized invoice from the provider or your explanation of benefits, or EOB, from the insurance carrier. Any supporting documentation must include:

• Name of patient
• Name of provider or merchant
• Date service received or item purchased
• Description of service received or item purchased
• Dollar amount (after insurance, if applicable)

If you have to submit supporting documentation, log into your WEX account to upload it. Or download the free mobile app by WEX on your Apple or Android device, use your phone's camera to photograph the documentation, and then upload it.

If you don't submit documentation after it has been requested, your debit card will be turned off about 90 days after the initial charge.

At the end of the plan year run-out period of April 30, 2023, if you still have unsubstantiated purchases, this dollar amount will be added to your wages for 2023 and taxed as ordinary income.

For questions about substantiation or your online account, contact WEX at 866-451-3399.