Employees may set aside money on a pre-tax basis to pay for qualified, uninsured medical expenses. By setting the money aside on a pre-tax basis, you are reducing your take-home pay and therefore reducing the taxes you pay. The funds cannot be used to pay insurance premiums. The maximum contribution is $2,500 for the plan year. This account can be used to pay for medical and dental plan deductibles and copayments, uninsured medical expenses, and other eligible expenses, such as contact lenses, eyeglasses and over-the-counter medicines/supplies.
With enrollment in the medical spending account, you will receive a WageWorks Visa card -- this card will allow you to pay for eligible expenses directly from your account. Please keep all receipts, as you may be required to show them as proof of the eligibility of the expense. Please review the card use verification web tutorial, and the card use verification process frequently asked questions. Also, be sure to read the section below about WageWorks Visa Card Use.
You are eligible to spend the entire, annual election amount on eligible expenses on the effective date of your election (usually July 1, or your benefits effective date if a new hire).
Please see WageWorks' website for more information on eligible dependents and eligible expenses.
To file a claim for your medical spending account, submit the following form (be sure to follow the directions on the form, and you can also review a sample completed form).
WageWorks also now offers you the flexibility to file your "Pay Me Back" forms online. Simply follow these steps:
- Log in to www.wageworks.com and log into your account and click the Health Care or Dependent Care tab.
- Select the online claim form.
- Fill in all the information requested on the form and submit.
- Scan receipts, EOBs and other supporting documentation.
- Attach supporting documentation to your claim by using the upload utility (or print the pre-populated online claim form and submit it along with your documentation via mail or fax to the address or fax number referenced on the form).
- To speed processing, remember to save receipts that show exactly what you paid for, the amount and date of service.
In addition to filing for reimbursement of expenses, you may also use the WageWorks Visa card to directly debit your medical spending account funds. Please read the documentation about how the WageWorks Visa card works.
WageWorks Visa Card Use
While your WageWorks Health Care Card and account offer a great deal of convenience, both are regulated by IRS rules that all participants are required to follow. In most instances, you will be able to use your card with little or no inconvenience. There are, however, situations where the card will be declined or you will be required to submit receipts and or other documentation to verify that the item or service purchased was eligible.
Regardless of how you use the card, if you follow the below tips, you will be able to avoid and/or quickly resolve the most common problems.
1) Shop for eligible, over-the-counter (OTC) items only at stores and pharmacies that have an IRS-approved inventory system in place. These systems ensure that the card will only be used to purchase eligible items. The most current list of approved stores can be found at www.sigis.com. You can still use your card at health care providers and specialty pharmacies, but in most instances, you will be required to submit documentation to verify the eligibility of the item or service purchased.
a) Go to www.sigis.com and choose "IIAS Merchants List" to review the most up-to-date list of approved merchants.
2) Log onto your account at www.wageworks.com regularly to see if you have any card transactions in need of verification. If you have a card transaction that requires verification, you will be notified immediately on the Welcome page upon login. Simply follow the instructions on the Card Use Verification form and your account should be restored to its good standing within five days of your submission.
3) Resolve all unverified card transactions as quickly as possible. All unverified card transactions must be resolved within 90 days of the purchase date. If not, you run the risk of having your card suspended. As an additional consequence, the amount of any outstanding transactions may be subtracted from subsequent Pay Me Back claims submitted for reimbursement.
4) Make sure your receipts (or documentation) contain the 5 required pieces of information. In order for the receipt (or any documentation) to be valid, it must include the five specific pieces of information required by the IRS:
a) The patient name
c) Date of service
d) Type of service
e) The amount you were charged or your cost (e.g., your deductible or copay amount or the portion not covered by your insurance)
5) Always save your receipts. Regardless of whether we request a receipt or not, you are required by the IRS to retain every receipt for your tax records. That is why it is a good idea to keep a separate folder in your home records for your Health Care Card and account receipts.
For additional guidance and information on card use, please visit the Health Care Card Resource Center at www.wageworks.com/card.
Also, review the tutorial on the card use verification for more information on how the card use verification process works.
Review the WageWorks Learning Center for more information about how to claim an orthodontia expense.
See the Plan Document for more detailed information about this plan.