flexible spending accounts (FSA)

Flexible Spending Accounts help you save money by allowing you to use pre-tax dollars to pay for eligible expenses. Participants save an average of 30% on eligible expenses. MSU’s FSA vendor is HealthEquity/WageWorks and they offer two kinds of FSAs. The Health Care FSA can be used for eligible medical expenses. The Dependent Care FSA can be used for eligible child and dependent care expenses (daycare). Eligible MSU employees have the option to enroll in these FSAs during Open Enrollment each year in October or after a qualifying life event.

Access & Manage Your FSA Account  

HealthEquity/WageWorks offers customer support and online tools to help you manage your FSA. To access your account, visit the HealthEquity/WageWorks website and login/register. Register for your account with your name, birthdate, home zip code and ID code (last 4 digits of your social security number).

The easiest option to manage your FSA is to download the HealthEquity/WageWorks EZ Receipts app – check your balance, submit claims, snap and submit photos of your receipts all from your mobile device!  You can also manage your FSA from your account on the HealthEquity/WageWorks website.

Questions? Contact HealthEquity/WageWorks directly at 877-924-3967 or via the HealthEquity/WageWorks Website.

There Are Two FSA Plans You Can Enroll In: 

1. Health Care FSA

The Health Care FSA helps you save money by allowing you to use pre-tax dollars to pay for eligible medical expenses, such as medical and dental plan deductibles/co-pays, eyeglasses, contact lenses, orthodontics and other health-related expenses that are not covered by insurance.

Annual Maximum Contributions

  • 2024: $3,050 per eligible employee
  • 2025: $3,050 per eligible employee

For spouses who both work at MSU and are eligible, this means each spouse may contribute up to the maximum contribution amount.

Learn how Health Care FSAs work.

2. Dependent Care FSA

The Dependent Care FSA helps you save money by allowing you to use pre-tax dollars to pay for eligible dependent care services, such as child or elder daycare, preschool, summer day camp, and before/after school programs. The annual maximum reimbursement is $5,000 per family.

Learn how Dependent Care FSAs work.

FSA Eligible Expenses

Find info about eligible expenses on the HealthEquity/WageWorks website using the links below:

How Much Should I Deposit in My FSA?

The following are worksheets that will assist you in determining the amount to deposit in your account when you initially enroll in an FSA during Open Enrollment in October or after a qualifying life event: 

FSA Important Deadlines

FSAs help you save money on eligible expenses, but please note important deadlines. If you have not used your funds and/or submitted your receipts by the required deadlines, IRS code requires that remaining funds be forfeited.

Read more about IRS guidelines here.

2024 Plan Year Deadlines

    • The deadline to use your Dependent Care FSA funds: March 15, 2025
    • The deadline to submit receipts for your Dependent Care FSA: April 30, 2025
    • The deadline to use your Health Care FSA funds: March 15, 2025
    • The deadline to submit receipts for your Health Care FSA: April 30, 2025

2025 Plan Year Deadlines

    • The deadline to use your Dependent Care FSA funds: March 15, 2026
    • The deadline to submit receipts for your Dependent Care FSA: April 30, 2026
    • The deadline to use your Health Care FSA funds: March 15, 2026
    • The deadline to submit receipts for your Health Care FSA: April 30, 2026

FSA Forms to Help Manage Your FSA

The easiest option to manage your FSA is to download the HealthEquity/WageWorks EZ Receipts app – check your balance, submit claims, snap and submit photos of your receipts all from your mobile device! You can also manage your FSA from your account on the HealthEquity/WageWorks website. Most participants use one of the two electronic options to substantiate their claims for faster service and convenience. If you prefer to submit a claim via fax or mail, use the following forms:

The Heroes Earnings Assistance and Relief (HEART) Act

Members of a reserve component of the U.S. military that are ordered or called to active duty for a period of 180 days or more or for an indefinite period may withdraw, on a taxable basis, up to the unspent balance of your contributions made to your Health Care FSA. A Qualified Reservist Distribution (QRD) payment can be requested. Use the HEART Reimbursement Act Form to request a Qualified Reservist Distribution payment.

 

We've requested accessible versions of website documents from vendors. If you have difficulty reading any documents, contact the HR Solutions Center at 517-353-4434, 800-353-4434 or SolutionsCenter@hr.msu.edu.