Tax Advantage Accounts
Life Events FAQs
Defined Benefit Plans
All tax advantage accounts will be reset to $0 on January 1, 2019, unless you elect a contribution during Annual Enrollment.
If you had a tax advantage account in 2018 and elect one again in 2019, your credentials will stay the same (i.e. login information, bank account information, etc).
If you had a tax advantage account in 2018 and elect one again in 2019, you will not receive a new PayFlex debit card. The card you have will be updated with your 2019 elections. PayFlex debit cards expire every five years.
The debit card cannot be used after Dec. 31, 2018, for FSA claims
If you want to use your HSA funds, you will need to submit a claim online rather than using the debit card as all transactions will be taken from FSA account
You will use the same debit card for 2019
FSA: Effective Jan. 1, 2019, you cannot use your card for 2018 claims that need to be paid in 2019 (You will need to submit a claim online)
HSA: There are no restrictions on the year in which the card is used
When you are no longer enrolled in one of the Consumer Choice Medical plans, your HSA account moves to an individual account, this is called a "retail account"
You will continue to use the same debit card for the "retail account"
You will receive notification that your account is retail and will be charged monthly maintenance fees
55-and-over catch-up provision: $1,000