Additional Benefits
Flexible Spending Accounts (FSA)
U-M Health Flexible Spending Accounts (FSA), administered by WEX, allow you to save money by putting your non-taxable dollars into a designated spending account. Placing money in a spending account lowers your taxable income, which in turn may save you money. U-M Health’s Flexible Spending Account options include a Healthcare Spending Account (HSA) and a Dependent Care Spending Account. You may elect to participate in one or both of these accounts, depending on your health plan election.
Team members wishing to participate in the FSA program(s) must make a new election every open enrollment period. That election amount is deducted pre-tax from your paycheck in equal amounts and is deposited into your FSA account following each pay period. Exceptions will not be granted for those who do not complete open enrollment. It is important to carefully plan your contributions to the Flexible Spending Accounts.
Important Compliance Note:
Team members electing FSA benefit options are responsible to manage compliance with IRS FSA rules.
Healthcare Flexible Spending Account
The Healthcare Flexible Spending Account (FSA) reimburses you with pre-tax dollars for certain medical, dental, and vision expenses not covered by insurance. Expenses incurred and claimed may be for you or your legal dependents. Examples of eligible expenses include, but are not limited to, medical deductibles and co-pays, eyeglasses, contacts, exams, and dental expenses. Please note that FSA funds used for dental and vision expenses will not apply towards your annual medical plan deductible. You can elect to contribute up to $3,300 in 2026 in the Healthcare Flexible Spending Account. Team members electing our Bronze health plan, or any other high-deductible health plan, are not eligible for participation in the healthcare flexible spending account.
IRS rules require that money left unused in your account(s) at the end of the plan year be forfeited. The U-M Health healthcare FSA allows for a grace period of 2 ½ months after the close of the plan. Therefore, if a team member has a balance in their healthcare flexible spending account as of December 31st, the team member may be reimbursed for healthcare expenses incurred on or before March 15th of the following year.
Eligible Expenses: Eligible expenses include out-of-pocket expenses related to doctor visits, prescription medications, dental/vision exams and much more!
- Check Eligible expenses on WEX’s website!
https://www.wexinc.com/resources/benefits-toolkit/eligible-expenses/
Note: The Healthcare Flexible Spending Account is not available to team members enrolled in the Bronze health plan, a qualified high-deductible health plan (HDHP) with HSA, or non-benefit eligible team members.
Dependent Care Flexible Spending Account
The Dependent Care Flexible Spending Account reimburses you with pre-tax dollars for any dependent care expenses incurred to enable you and your spouse to work. These include expenses such as day care for your children or home care for your disabled spouse or parent(s). You can elect to contribute up to $7,500 in 2026 in the Dependent Care Flexible Spending Account.
WEX FSA Debit Card
Your flexible spending account(s) will come with a convenient debit card. Team members can request additional cards from the vendor.
For additional convenience, there is also a mobile app to help you manage your FSA account(s).
WEX Contact Information:
Contact WEX for questions about debit cards (including requesting new cards), mobile app/website support, etc.
866-451-3399
customerservice@wexhealth.com
Benefits Account Login | WEX Inc.
