Tax Advantage Accounts
Life Events FAQs
Defined Benefit Plans
All tax advantage accounts will be reset to $0 on January 1, 2020, unless you elect a contribution during Annual Enrollment.
If you had a tax advantage account in 2019 and elect one again in 2020, your credentials will stay the same (i.e. login information, bank account information, etc).
If you had a tax advantage account in 2019 and elect one again in 2020, you will not receive a new PayFlex debit card. The card you have will be updated with your 2020 elections. PayFlex debit cards expire every five years.
The debit card cannot be used after Dec. 31, 2019, 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 2020.
FSA: Effective Jan. 1, 2020, you cannot use your card for 2019 claims that need to be paid in 2020 (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