1. Your Healthcare FSA Flexible Spending Account with Carryover
Lake County Schools – Risk Management Department
April 17, 2017

2. What is a Healthcare FSA with Carryover?
Pre-tax benefit account that pays for eligible expenses not covered by insurance
Medical expenses
Dental expenses
Vision expenses
Now carryover up to $500 at the end of the plan year
No more “use it or lose it”
[Employer Name] sponsors this program, brought to you by take care by WageWorks, to help you save on important health and dependent day care expenses by using pre-tax dollars.
Your FSA can cover a wide range of needs, for many of the big out-of-pocket expenses and everyday purchases that you already pay for. You decide whether to open a healthcare account, a dependent care account, or both. And you choose how much to set aside for expenses during the plan year.
You can use money from your FSA for yourself, your spouse, or any of your eligible dependents, even if they are not covered by your health plan. And the program is designed to be as simple, fast, and convenient as possible. Saving has never been this easy.
Now with Carryover, you can carryover up to $500 from year to year. Your FSA is even better. The calculator at is a great place to start.

3. Why You Need It Save an average of 30% on everyday healthcare expenses
Use several easy, no-hassle payment and reimbursement options
Access your full election amount starting on day one
[Employer Name] sponsors this program, brought to you by WageWorks, to help you save on important health and dependent daycare expenses by using pre-tax dollars.
Your FSA can cover a wide range of needs, for many of the big out-of-pocket expenses and everyday purchases that you already pay for. You decide whether to open a healthcare account, a dependent care account, or both. And you choose how much to set aside for expenses during the plan year.
You can use money from your FSA for yourself, your spouse, or any of your eligible dependents, even if they are not covered by your health plan. And the program is designed to be as simple, fast, and convenient as possible. Saving has never been this easy.
It’s important to remember that the money in your FSA does not roll over from year to year, so make sure to calculate your expenses carefully when planning how much to set aside for the year. The calculator at is a great place to start.

4. How It Works Determine how much to contribute
Estimate how much you’ll need
Elect how much to contribute
Funds are taken from your paycheck before taxes
Start saving up to hundreds of dollars in one year
Savings result from lower overall taxes
The program works by setting aside some of your pay before taxes are deducted. The money is still yours to spend on eligible expenses, but you don’t pay taxes on it.
Before you enroll, you should estimate your healthcare and/or dependent daycare expenses for the upcoming year, so you can decide how much to set aside through your FSA. WageWorks offers easy online calculators that help you project these expenses, plus you’ll find examples and a worksheet in your enrollment materials. Then choose how much to defer in each account when you enroll.
Your savings works by reducing the amount of your income that’s subject to federal income tax, FICA (Social Security) tax, and in most states, state income tax. Exactly how much you save depends on how much you spend on healthcare and dependent care expenses each year, and on your tax situation. Most people can save from $30 to $40 in taxes for every $100 set aside through their FSA.

5. What You Get Less Risk, Less Worry More Flexibility More Savings
Carryover up to $500 left in your account when the plan year ends
No more “use it or lose it” risk
More Flexibility
Spend your money when and how it suits you best
No need to rush to spend at the end of the plan year
More Savings
Less risk means you can increase your savings by using your FSA more

6. How You Use It Use your take care® Flex Benefits Card to pay instantly
Works like a debit card, just swipe and go
Funds come directly from your Healthcare FSA
No PIN required
This program features on-the-spot access to your account with the take care Flex Benefits Card. Use it just like a debit card for copays, prescriptions, over-the-counter products, and more. The card gives you a fast and easy way to get immediate access to your account, without having to pay and wait for a reimbursement check. Note that although the take care Flex Benefits Card is technically a debit card, you will need to select “credit” at the register when you pay for services. Also, you should still hang on to your receipts in case WageWorks needs to verify that an expense is eligible.

7. No Card, No Problem Pay Me Back Traditional claims Fast reimbursement
It’s your money. Your FSA just helps you save it from taxes, and gives you control over how you spend it on your health and your family. The program is built for maximum convenience and control.
You choose when and how to spend the money in your account. Use Pay Me Back to send in traditional claims, and get quick reimbursement.
To keep track of your money, you can get information about your account balance, recent activity, claims in progress, and more at any time with the convenient online tools at

8. How You Manage It Use take care® MyFlexsmMobile app
File a claim and get reimbursed quickly
View transactions and benefit account balances using a single login
Snap a photo of receipts and submit them for payment
Receive confirmation s when claims are received, processed, or paid
Receive text messages when card verification is required, a transaction is denied, or a claim has been processed
Or online at takecareWageWorks.com

9. How Much You Can Contribute
Maximum of $2,600 (Minimum of $250)
IRS sets the contributions guidelines
Contribution limits may change during the year
Full amount available on day one
You can access your full election amount on the first day of the new plan year
Everyone has expenses for healthcare that aren’t covered by your health plan or other benefits. [Employer Name] offers the FSA program to help you save money when you pay for these important expenses.
You can use your FSA to pay for copays, coinsurance, and deductibles when you visit the doctor, for prescriptions, and for other out-of-pocket healthcare expenses you incur. You can also use it for most dental and vision care needs that aren’t covered by your insurance. You can even use your FSA for a wide range of everyday, over-the-counter products to care for your health. Now that a prescription is required for over-the-counter medicines, make sure to get the prescription first before purchasing the item. You still will be able to purchase many items, such as contact lens solution and bandages, without a prescription. See the eligible expense lists available on for more details.
You can also use your FSA to pay for your eligible dependents’ healthcare expenses—even if they’re not enrolled in your health plan. Eligible dependents include anyone you can legally claim as a dependent on your federal income tax form.

10. Eligible Expenses Use Your Healthcare FSA to pay for:
Prescriptions for almost any medical condition
Prescribed over-the-counter medicines, e.g. aspirin, cough syrup
Co-payments, co-insurance, and deductibles
Dental care, both preventive and restorative
Orthodontia, child and adult
Vision care, eyeglasses, contact lenses, solutions
Eye surgery, including laser vision correction
Counseling and therapy
Psychology and psychiatry
Chiropractic care and acupuncture
See for more
Here are some of the most popular healthcare expenses that are typically covered by your FSA. Please note that to be eligible, expenses typically need to be for a specific medical condition, not for general wellness.
For more information and a full list of expenses, check out the information available at

11. How You Get It Enroll online or by phone:
Follow LCS Open Enrollment / New Hire instructions
Visit LCS Risk Management / Flexible Spending Account
Or call (352)
Enrollment is easy. Just follow the instructions in your open enrollment materials. [Employer-specific instructions here].
But make sure you enroll in time! Typically you can only sign up during your regular, annual benefits open enrollment period. You may be able to change your election if you experience a “qualifying event” during the year such as getting married, having a child, or changing your work status. Please see the open enrollment materials for details.

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