UW System employees may contribute to Flexible Spending Accounts (FSA) and/or a Health Savings Account (HSA).
With a FSA, plan to spend the money set aside. With an HSA, you may spend or save the money. Another key difference is the FSA contains a “use it or lose it” rule; this rule does not apply to the HSA. Review the Comparison – HSA vs FSA (available in the Forms & Resources section below) for other key differences.
If you do not enroll in an FSA or HSA during your initial 30-day enrollment period, you may enroll during the Annual Benefits Enrollment (ABE) period or if you have a qualifying life event (see Life Events in the left hand menu for more information).
Not sure where to start? Talk with ALEX or click on the links below to read more about each account.
Note: These accounts are administered by TASC; however, effective January 1, 2020, these accounts will be administered by ConnectYourCare (CYC). All participants affected by this change will receive communications directly. Information regarding the change is available on the 2020 Vendor Change page.
- Flexible Spending Accounts (FSA) – includes Health Care FSA, Limited Purpose FSA, and Dependent Day Care
- Health Savings Accounts (HSA)
- Parking & Transit Accounts – no longer offered as of June 1, 2018. If enrolled prior to June 1, 2018, you may continue to use the funds in your parking and/or transit accounts until exhausted or you become ineligible. These accounts, also known as “commuter benefits,” are designed to reimburse eligible parking and or/ transit expenses with money set aside from earnings not subject to federal income or Social Security taxes. If you pay for University parking through payroll deduction, your parking costs are not eligible for reimbursement by the parking account.
Review each account by clicking on the above links for eligibility information.
Forms & Resources
last updated: 11/05/2019
Every effort has been made to ensure this information is current and correct. Information on this page does not guarantee enrollment, benefits and/or the ability to make changes to your benefits.