Year-end reminders about flexible spending accounts

Both your 2024 and 2025 flexible spending accounts may need some attention as the month of December winds down. Check this list to make sure you've taken care of each item.

Remaining 2024 funds: Remember to use the funds in your 2024 flexible spending account, or FSA, by Dec. 31. (Learn more about flexible spending and health savings accounts here). You can find a comprehensive list of eligible expenses here.

Contribution limits for 2025: The IRS recently announced that the limit for 2025 health care and limited purpose flexible spending accounts has increased to $3,300 from last year's $3,050. If you would like to adjust your 2025 enrollment election based on the new limit, you must do so by Dec. 31 within the myChoices Health & Life Enrollment platform. To do so, scroll down to the My Benefits section, select Start a Qualifying Life Event, and then click Other Options to choose Health Flexible Spending (HFSA) Contribution or Limited Purpose Flexible Spending Contribution.

Rollover funds: Any remaining balance of $30 to $640 in your 2024 health care or limited purpose FSA will carry over into 2025. Your carryover amount will post after the 2024 claims filing deadline of April 30, 2025, in your WEX account. Funds over $640 will be forfeited.

Dependent care FSA: Funds remaining in your 2024 dependent care FSA will not roll over into 2025, as decided by the IRS. If you did not use your allocated amount in 2024, you can consider changing your 2025 contribution. A change in child care needs allows you to adjust your contribution or apply for the Child Care Voucher or Scholarship at any time during the year.

Health care FSA substantiation: Substantiating your debit card purchases is important for the health care FSA as it must follow IRS rules. JHU adheres to the guidelines and collects backup documentation when necessary.

You will receive an email from WEX if you need to submit supporting documentation. You also 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.

Did you know that Quantum Health can help you obtain supporting documentation to substantiate your FSA claims? CareFirst plan members can find an explanation of benefits, or EOB, by accessing the Quantum Health member portal or by calling 844-460-2801, 8:30 a.m. to 10 p.m. Monday through Friday.

If you have 2024 debit card claims that are not substantiated by Dec. 15, 2024, and have not responded to WEX, your debit card will NOT be activated for 2025.

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

Other benefits questions? Contact the Benefits Service Center at 410-516-2000 or benefits@jhu.edu.

You can get the latest updates on your benefits by visiting the Benefits & Worklife website.