Administered by Health Equity
The Collaborative for Educational Services offers employees a way to increase their spendable income via the benefit known as a Flexible Spending Account, FSA or Flex Plan. HealthEquity is a BlueCross BlueShield of Mass partner, so their systems are connected. If you are enrolled in Medicare, you cannot contribute to an HSA.
Three reimbursement accounts are available. Using these plans will save you money by allowing you to pay for medical and dependent care expenses with pre-tax instead of after-tax dollars. To learn more about each of these options, please read more below.
- Health Flexible Spending Account (FSA)
- Limited Purpose Health FSA (PPO high deductible plans only)
- Dependent Care Assisance Plan (DCAP)
NOTE: If you are participating in either of the PPO plans AND you have an HSA, you are eligible to enroll in this benefit as a “Limited Purpose Health FSA”. This benefit can help with any out-of-pocket dental and vision expenses that you might have during the plan year.
How to Enroll in a Flexible Spending Account
In order to make your Plan 25/26 Annual Election, you must complete benefit selection through Paycomm.
- Learn more about FSAs
A Medical FSA allows you to reimburse yourself for eligible medical expenses with tax-free dollars
- You are allowed to contribute up to $3,300
- Carefully consider your upcoming expenses when making your election
- At the end of the 2026 plan year, you may be able to rollover up to $660 of any unused funds into your 2027 FSA. Funds in excess of $660 are forfeited
- Examples of eligible expenses include; deductible, copays, prescriptions, dental and vision services (glasses, contacts), and more!
- Your entire FSA election will be available July 1st and deducted from your paycheck in equal amounts throughout the year
How do I manage an FSA?
- Who’s Eligible: Available to individuals enrolled in the PPO HSA $2000 or HMO HSA $2000 plans (but not enrolled in any other health plan, including Medicare).
- Easy Access to Funds: Use your HealthEquity HSA debit card for medical and prescription co-pays — no extra paperwork required.
- Investment Option: Once your balance reaches $1,000, you can choose to invest your HSA funds.
- Transition from Optum: You can either spend your existing Optum HSA funds or transfer them to your new HealthEquity HSA account.
Why should I consider a Health FSA?
The Health FSA is designed to help you pay medical expenses incurred during the plan year, including those which are not 100% covered by insurance, or those which are not eligible for payment under your health care plan.
The amount you have agreed to set aside in the FSA may be used to pay for most health care expenses, including certain over-the-counter items. Because CES health insurance plans require deductibles before certain medical expenses are covered by insurance, a health FSA can be a great help!
Health FSA contributions can be used to pay deductible expenses which would otherwise have to be paid for out of your pocket.
CES plans include the Carryover Provision!
In 2013, the U.S. Treasury Department modified its Flexible Spending Account (FSA) “use-or-lose” rule – employers may now adopt the Carryover Provision to allow funds to roll over. If you previously chose not to participate in the FSA program because of the “use-or-lose” mandate, it’s time to take another look!
When can I start participating? Any time!
All employees who work 20 or more hours per week can participate immediately (as of their date of hire).
How much can I set aside? You are allowed to contribute up to $3,300
Eligible expenses:
The CARES Act expanded the list of eligible expenses for HFSAs, HSAs and HRAs retroactive to January
I have the PPO Plan. Can I still participate? YES!
Yes. However, if you contribute to an HSA, you can only participate in a Limited Purpose Health FSA. The Limited Purpose Health FSA works the same way a standard Health FSA does: pre-tax dollars, “use it or lose it” elections, and expenses must occur within the plan year. The difference is that eligible expenses are limited to vision and dental services or products.
IMPORTANT NOTE: PPO plan members who do not have an HSA account are able to participate in a Full Purpose Health FSA!
DEPENDENT CARE FLEXIBLE SPENDING ACCOUNTS
Why should I consider a Dependent Care FSA?
This FSA is designed to help you pay for childcare services (or care for an elder, disabled spouse or dependent) when those services make it possible for you and your spouse to work.
Any type of dependent care that you could legally claim if you were filing for a credit on your tax return is eligible for reimbursement under this FSA.
How much can I set aside? Up to $5,000 per family
Qualified Dependent Care Expenses
- Care for Children Under Age 13
- Care of a Disabled Dependent
- Daycare
- Summer Camp
- Pre-School
- After School Programs
How do I know how much to elect?
Please be sure to plan your contributions carefully this year, especially in light of the changes highlighted above (review the IMPORTANT NEWS above). Do not hesitate to reach out to human resources to discuss.