What is a Health Savings Account (HSA)?

A Health Savings Account (HSA) allows you to pay for qualified dental, medical, and vision expenses as well as save for future qualified expenses on a tax-free basis. An HSA is similar to an Individual Retirement Account (IRA) established for the benefit of you, owned by you, and is portable. If you change employers, the HSA stays with you.
 
Any unused money in your HSA at the end of the year rolls to the next year. You may also choose to invest your HSA money. Any interest or dividends generated by investments are added to your HSA account tax-free.

Who is eligible for an HSA?

You are eligible for an HSA if you:

  • Are covered under a high-deductible health plan (HDHP).
  • Have no other medical coverage. You cannot be covered by a family member’s non-HDHP or a medical FSA/HRA.
  • Are not enrolled in Medicare.
  • Cannot be claimed as a dependent on someone else’s tax return.
  • Have a valid Social Security number.

How is an FSA different from an HSA?

Both accounts will enable you to pay for qualified medical expenses with pre-tax dollars. The main difference between the two accounts is that the HSA will rollover from year to year. The HSA rollover allows you to be reimbursed for expenses that were incurred on or after the HSA start date. You can use the funds in your HSA for expenses that incurred as far back as the original date your HSA was opened.
 
The Healthcare and Healthcare Limited FSAs are limited to a plan year and will only rollover up to $570 for the 2023 plan year, and up to $610 for the 2024 plan year. HSAs will reimburse to the available balance you have accrued through contributions, whereas the FSA is fully available at the beginning of the plan year.
 
HSA enrollment restricts you from participating in Healthcare FSA . You may, however, participate in a Healthcare Limited FSA and Dependent Care FSA with your HSA. The Healthcare Limited FSA is restricted to dental, vision, and post-deductible medical expenses. To be reimbursed for post-deductible medical expenses, third-party documentation with the proof of the deductible being met and the date it was met will need to be submitted to WEX Inc.
 
If you are using your Benefit Card, dental and vision expenses will be taken from your Healthcare Limited FSA first. The card will classify any medical expenses as HSA. For example, if you use your card at EyeGlass World, the expense will be withdrawn from your Healthcare Limited FSA first provided there are enough funds available.
 
Benefit Card transactions can be modified if they are classified to the wrong account. If you would like one corrected, please send us an email with the transaction date, amount, and which account it should be applied to. For transactions that are moving from your HSA to your Healthcare Limited FSA, please also submit substantiation.

What is a Flexible Spending Account (FSA)?

A Flexible Spending Account (FSA) is a benefit that allows you to use pre-tax money to pay for eligible health or dependent care expenses for you, your spouse, or your eligible dependents.

Who is eligible on my FSA?

Through the Healthcare FSA or Healthcare Limited FSA, you can claim eligible expenses for you, your spouse, and your dependent children under the age of 26.
 
Through the Dependent Care FSA, you can claim eligible daycare and before/after school care expenses for a qualifying dependent. The IRS defines a qualifying dependent as:

  • Your child who is under the age of 13.
  • Your spouse who is not physically or mentally able to care for themself and has lived with you more than half the year.
  • A person who is not physically or mentally able to care for themself and has lived with you more than half the year.

When will my election be available?

For the Healthcare FSA and Healthcare Limited FSA, you will have access to your entire annual pledge on the first day of your coverage period. Deductions for the plan will be evenly divided amongst your payrolls for the year.
 
For the Dependent Care FSA, you fund the account throughout the year through equal payroll deductions and can access the funds for reimbursement as they are deposited into your account.

What are the ways that I can access my account?

To access your account, we have two user-friendly options; IU Benefits Mobile App and our website.
 
The IU Benefits Mobile App can be used on smartphones and tablets. Instructions for accessing the IU Benefits Mobile App are available under Forms & Resources at benefit-info.com/iu. You will use the following login credentials.
 
If you have logged in and have not changed your username from the 10-Digit Employee ID Number
 
Username: 10-Digit Employee ID Number
Password: Click forgot password follow the prompts
 
If you have logged in and changed your username from the 10-Digit Employee ID Number
 
Username: Enter your username
Password: Click forgot password follow the prompts
 
If you have never logged in: Click, Get Started follow the prompts
 
Your login will be the same for the mobile app or the online portal from the website.
 
The IU Benefits Mobile App and online portal will allow you to: view your balances, view account activity, view notification history, file claims, and submit receipts for outstanding debit card transactions.
 
Your account is automatically created when you are enrolled.

Can my spouse and I have other types of health plans in combination with my HSA?

You or your spouse may have a Healthcare Limited FSA in combination with your HSA. A Healthcare Limited FSA is limited to dental, vision and post-deductible medical expenses only.

Can I have a joint HSA with my spouse?

No. HSAs are individual accounts that are opened in one person’s name. While your HSA will cover expenses for the family, the account itself remains in your name.

If each spouse has self-only HDHP coverage (neither spouse has family coverage), how much can we contribute?

With self-only high-deductible health plan (HDHP) coverage, each spouse can contribute up to the yearly maximum contribution for individual coverage.
 
If either spouse carries family HDHP coverage, both spouses are treated as having family coverage. The HSA maximum for family coverage will need to be split between both spouses upon agreement. This agreement could be that the spouse with family HSA coverage contributes the maximum while the other spouse waives his/her HSA for the year. The combination of contributions to the two HSA accounts cannot exceed the yearly maximum contribution for family coverage.

How will I receive monthly HSA statements?

Monthly HSA statements are available through the online portal, benefit-info.com/iu. We recommend that you review them periodically. You may also sign up for paper statements to be mailed to your home for $1.50/month.

How do I start an HSA?

You may enroll in an HSA during your new hire enrollment period, IU’s Open Enrollment, or anytime throughout the year. Contact your HR department for additional information.

Can I have more than one HSA?

Yes, but your contributions may not exceed the maximum contribution amount between all your HSAs.

How do I check my HSA balance?

You may check your HSA balance at any time by logging in to benefit-info.com/iu. After you log in, click Your Balances on the left side. Your HSA balance will be listed in the left column with your HSA investment balance listed below it.
 
The amount listed in your HSA balance is the amount available on your debit card. Any amount shown in your investment balance is accessible to you by creating a distribution through our website.

Where can I find a report with all my account activity?

Your account activity is available in real-time by accessing our website at benefit-info.com/iu. After you log in, you will click Your Balances on the left side, and then click Accounts in the top menu bar. Next, click Account Activity to view all contributions and distributions processed on your HSA.
 
You may export your account activity to an Excel spreadsheet by clicking the Export button.

Do I need to submit documentation to use my HSA?

No. You do not need to submit documentation to create distributions or use your debit card on your HSA. We recommend that you keep HSA documentation in a folder near your tax documents. Documentation may be requested if you would like a debit card transaction to be moved from your HSA to a Healthcare Limited FSA.

Where can I find my HSA tax documents?

Your HSA tax documents are available on our website at benefit-info.com/iu. Once logged in, click on Your Balances, and then hover on Accounts in the top menu bar. You will then select Statements on the left hand side. The 1099-SA Distribution Statement will be available by the end of January and the 5498-SA Contribution Statement will be available by mid-February.

What happens to my HSA if I terminate or resign?

If your employment ends with Indiana University, your HSA will remain active.
 
All features that you are accustomed to will be continued on your HSA. A monthly administration fee will be applied directly to your account. (Previously, this was paid by your employer.)

What happens to my HSA after my death?

If you have a beneficiary on your HSA, your beneficiary will be able to submit an HSA Death Distribution Form and request the HSA be sent to the estate, or converted to an HSA in the surviving spouse’s name. If no beneficiary is listed on your HSA, the state of Indiana requires the HSA distribution to be made to the estate of the deceased. Extra documentation may be requested to process a death distribution to an estate.

How do I add a beneficiary?

You may add or update your beneficiaries at any time through our website, benefit-info.com/iu. Once logged in, click on Your Balances, and then click on Profile in the top menu bar. Click on Add Beneficiary on the right side. Please note that adding a beneficiary does require the beneficiary’s Social Security number.

Can an Estate or Living Trust be a beneficiary?

Yes. Both can be listed as a beneficiary. The tax ID number included on their legal documentation will need to be entered into our website. If you need assistance, please let us know via email at IUSupport@wexinc.com, or by phone at 800-284-8412.

What are the fees associated with my HSA?

IU will pay your monthly administration fee.
 
The following fees are applicable:
HSA Check Distribution Fee: $10.00/each; if issued to a provider the fee is waived
Return Fee: $15.00/each
Stop Check Fee: $20.00/each
HSA Account Summary Fee: $1.50/month
Additional or Replacement Debit Card Fee: $10.00/set of two (2) Debit Cards
Quarterly Custodial Management Fee: 25 Basis Points/annum investment in mutual funds
Monthly Account Maintenance Fee for Terminated Participant: $2.75/month

How do I close my HSA?

If you are no longer enrolled in the HSA through IU, you may close your HSA at any time by submitting an HSA Distribution Form to transfer or rollover your HSA balance.
 
If you do not have a balance in your HSA, you may send an email request to IUSupport@wexinc.com. Please include your name and your 10-digit employee ID number to verify that you would like your account closed.

What is an HSA contribution?

An HSA contribution is a deposit made into your HSA.

What is the HSA maximum contribution limit?

Each year, the IRS sets maximum contribution limits for HSAs.
 
For 2023, the maximum contribution limits are:
Individual: $3,850
Family: $7,750
 
For 2024, the maximum contribution limits are:
Individual: $4,150
Family: $8,300

Who can contribute to my HSA?

A contribution can be made by you, your employer, family members, or anyone who would like to contribute to your HSA.

What is the allowable catch-up contribution?

The allowable catch-up contribution for participants over 55 is $1,000. This amount adds to the coverage maximum limits.
 
For 2023, the maximum contribution limits with catch-up are:
Individual: $4,850
Family: $8,750
 
For 2024, the maximum contribution limits with catch-up are:
Individual: $5,150
Family: $9,300

How can I contribute to my HSA?

After enrolling in the HSA your contributions are made through payroll deductions with your employer. You may contribute directly from a personal bank account into your HSA via our website, benefit-info.com/iu.
 
You may also contribute by sending a check payable to WEX Inc. by mail at:
 
IU HSA/FSA
c/o HSA
P.O. Box 2905
Fargo, ND 58108-2905

Can HSA contributions be changed during the year?

Your payroll contributions may be changed. To change your contribution amount, contact your HR department.

When is the last day of the year to contribute to my HSA?

You will have until tax day of the following year to contribute up to the maximum into your HSA.

Can I transfer or rollover HSA money from my current HSA custodian to WEX Inc.?

You may transfer or rollover HSA money from an HSA custodian to WEX Inc. by completing the HSA Transfer Form and submitting the form to your current HSA custodian.
 
A transfer or rollover must be made to the same owner of the HSA; i.e. John Doe’s HSA at Chase to John Doe’s HSA at WEX Inc. A spouse is not allowed to transfer or rollover into their spouse’s HSA.

What is the difference between a transfer and a rollover?

Please note that transfers are unlimited from custodian to custodian. Rollovers may occur once per 12 months.

May I transfer or rollover funds from my current HSA to my spouse’s WEX Inc. HSA?

Per IRS guidelines, HSAs are individual accounts that cannot be combined between spouses. Accounts stay in the name of the individual that originally opened the account. For example, if Joan opened an HSA with CHASE but later wanted to transfer it to her husband Bill’s WEX Inc. HSA, she would not be able to roll her funds into Bill’s account. Joan’s HSA is in her name, and Bill’s HSA is in his name. They may not be combined to consolidate accounts between spouses.

What happens when I exceed my HSA contribution maximum?

If a contribution is made over the HSA maximum for the year, WEX Inc. will send a notification to the HSA account holder. It is the account holder’s responsibility to decide whether to create an excess distribution or pay the tax penalty on the excess contribution by tax day of the next year.

How do I request an Excess Distribution?

You may request an excess distribution by completing the HSA Distribution Form and submitting it to us via email at IUSupport@wexinc.com, fax 888-887-9961, or by mail at:
 
IU HSA/FSA
c/o HSA
P.O. Box 2905
Fargo, ND 58108-2905

What is a Mistaken Distribution?

A mistaken distribution is a refund processed back to your HSA. You may pay your HSA back any refunds that you have received directly from your personal bank account and then send an email to IUSupport@wexinc.com with your name, your 10-digit employee ID number, and the refund contribution you have submitted. We will manually adjust the transaction from a normal contribution to a mistaken distribution. (Without this adjustment, it could place your contributions over your HSA maximum contribution for the year.)
 
You may also complete the HSA Contribution Form and send a check payable to WEX Inc. by mail to:
 
IU HSA/FSA
c/o HSA
P.O. Box 2905
Fargo, ND 58108-2905
 
All mistaken distributions must be processed by tax day of the next year.

How do I setup my investments?

After you have reached a balance of $1,000 in your HSA, you may enable your HSA Investments. You will need to log in at our website, benefit-info.com/iu.
 

  1. Click on Your Balances.
  2. Click on Manage Investments.
  3. Click on Investment Account Setup.
  4. Select Yes to enable auto-investment transfers.
  5. Specify a value at or above $1,000 to automatically transfer to your investments account.
  6. Click Save/Next.
  7. Select your investment options.

What is my investment threshold?

Your investment threshold is the amount that you specify in Setup Investment Transfers; a minimum of $1,000. The threshold determines the amount that is pushed to your investments. With auto-investment transfers on, it will automatically send money over the threshold in $100 increments over to the investments. If the HSA account falls below the threshold, it will also automatically pull money out of investments back to the HSA account.
 
Transfers can be turned off at any time by re-entering the Investment Account Setup screen and selecting “No” to auto-investment transfers.

How are Auto-Investment Transfers handled?

Transfers into the investment accounts are handled by the investment values that you have assigned in Manage Investments. Reverse transfers are pulled pro-rata from all investments.

How do I transfer or realign my investments?

You may transfer or realign your investments by changing your investments in Manage Investments. After you have changed the percentages, it will give you the option to realign.

How is the transfer handled in reverse? Does it apply the same percentages that were setup for the transfer into the investment accounts?

Transfers will also work in reverse. If the general HSA falls below the threshold, money will be transferred out of the investment area into the general HSA. The minimum threshold allowed is $1,000. Transfers can be turned off at any time by selecting “no” to auto-investment transfers.
 
The reverse transfer is handled pro-rata. This means that based off where your money is currently invested, it pulls the money out of the accounts by formula. For instance, if you are invested in two accounts at $500, it would pull equal amounts from the accounts. However, if you had $750 in one and $200 in another, it would pull more out of the $750 investment than the $200 investment. It is not directly tied to the percentages that were initially used for investment.

What are basis points (bps)?

Basis points are administrative fees applied to mutual funds. 25 basis points is equal to .25% for the year.

How long does it take for my investment trades to process?

It takes 2 business days for a trade to process. Trades created after 2:30 pm EST are started on the next business day.

What is an HSA distribution?

An HSA distribution is a withdrawal from your HSA.

How do I create a distribution?

You may create a distribution by using your debit card, our website, benefit-info.com/iu or on the IU HSA/FSA Mobile App. A distribution created online can pull from both your HSA account and your investment account.

How long does a distribution take to process?

A distribution can take up to 3 business days to process.
 
Distributions are processed on business days. Direct Deposits are available in your personal account within 72 hours of processing. Checks may take up to 5 business days to arrive.

How many distributions can I make?

You can create and receive as many distributions as you have funds available for. There is not a limit on the number of distributions that you can make. Distributions are generated in real time on our website, benefit-info.com/iu. You can make an unlimited number of distributions as long as you have enough funds in your account.

When will I receive distributions?

Distributions are processed on business days. Direct Deposits are available in your personal account within 72 hours of processing. Checks may take up to 5 business days to arrive.

Can I create a distribution for expenses incurred in a previous year?

Yes, you may create distributions for qualified expenses incurred in previous years that your HSA was active. You cannot request distributions for expenses prior to your HSA’s effective date.

How are distributions from an HSA taxed?

Distributions are taxed differently based on how they are used. Distributions from an HSA used exclusively to pay for the qualified medical expenses of you, your spouse, or eligible dependents generally are excludable from gross income. The amount of any distribution not used exclusively for qualified medical expenses will be includable in your gross income and may be subject to an additional premature distribution penalty tax. This penalty tax does not apply to distributions made after your death, disability, or attainment of age 65. In addition, distributions made for expenses that are reimbursed by another health plan are includable in your gross income, whether or not the other health plan is a high-deductible health plan (HDHP).

Who determines whether my expenses are IRS-qualified medical expenses?

We provide an Expense Eligibility Table to help determine eligibility. We are also available to assist with eligibility questions via email at IUSupport@wexinc.com or by phone at 800-284-8412.

What happens if I use my HSA for unqualified medical expenses?

You may repay your HSA by making a mistaken distribution or you may pay a tax penalty when you file your taxes for the year on the prohibited distribution.

What is needed for a Death Distribution?

If a beneficiary is on the HSA, we will need the HSA Death Distribution Form to be completed and returned to us with a copy of the death certificate.
 
If a beneficiary was not listed on the account, we will need a completed HSA Death Distribution Form, a copy of the death certificate, and one of the following:

  • Letters Testamentary for Estate
  • Small Estate Affidavit
  • Affidavit of No Administration

 
If a death distribution does not have the necessary paperwork, we will reach out to the submitter via letter or phone to request additional documentation.

I’m a single parent with a high-deductible health plan (HDHP) coverage but have a child/relative that can be claimed as a dependent for tax purposes, and this dependent also has non-HDHP coverage. Am I still eligible for an HSA?

Yes, you are still eligible for an HSA. Your dependent’s non-HDHP coverage does not affect your eligibility, even if they are covered by your HDHP. You can contribute up to the statutory limit.

What happens if I elect FSA at open enrollment and my spouse elects a family HSA during his/her open enrollment?

Your FSA election would disqualify your spouse to be eligible for an HSA. Any HSA contributions made during your coverage period in the FSA would need to be removed from your spouse’s HSA before he/she files income taxes. As long as the ineligible funds are removed from the HSA prior to filing taxes, there will be no penalty.
 
An excess distribution will need to be requested from the HSA custodian. WEX Inc. requires the HSA Distribution Form to be completed and returned to create an excess distribution. Excess distributions cannot be created through the website benefit-info.com/iu.

How do I know what the available balance on my Benefit Card is?

The balance on your Benefit Card is directly tied to the cash balance you have in your HSA. Your threshold setting determines the amount that is available in your cash account. For example, if you had $4,000 in your HSA with your threshold set to $2,500, then you would have $2,500 in your cash account and the remaining $1,500 would be in your investments.

Is there a limit on how many distributions I can make?

Fortunately, WEX Inc. does not limit the amount of distributions that you can make. Distributions are generated in real time on our website, benefit-info.com/iu. You are able to make an unlimited amount of distributions as long as you have enough funds in your account.

May distributions from an HSA be deferred to later taxable years?

Distributions from your HSA to pay or reimburse qualified medical expenses incurred in the current year may be deferred to later taxable years, as long as those expenses were incurred after your HSA was established. HSA distributions in the current year can be used to pay or reimburse qualified medical expenses incurred in prior years, as long as those expenses were incurred after your HSA was established. We recommend you keep all receipts for this purpose.

Who determines whether HSA distributions are for qualified medical expenses?

It is your responsibility to determine whether distributions from your HSA are used for qualified medical expenses. We suggest that you keep all of your medical receipts for tax purposes.
 
We provide an Expense Eligibility Table to help determine eligibility. We are also available to assist with eligibility questions via email at IUSupport@wexinc.com or by phone at 800-284-8412.

What happens to HSA funds after you reach 65?

At age 65 and older, your funds continue to be available without federal taxes or state tax (for most states) for qualified medical expenses; for instance, you may use your HSA to pay certain insurance premiums, such as Medicare Parts A and B, Medicare HMO, or your share of retiree medical coverage offered by a former employer. Funds cannot be used tax-free to purchase Medigap or Medicare supplemental policies.
 
If you use your funds for qualified medical expenses, the distributions from your account remain tax-free. If you use the monies for non-qualified expenses, the distribution becomes taxable, but exempt from the 20 percent penalty. With enrollment in Medicare, you are no longer eligible to contribute to your HSA. If you reach age 65 or become disabled, you may still contribute to your HSA if you have not enrolled in Medicare.

How long does it take for investment funds to transfer into my cash account when my balance falls below the threshold?

It will take 3-4 business days for funds to be deposited into your cash account after the investment sell has been initiated. If you have an investment auto transfer in place, this will occur any time your cash account falls below the threshold you have set. If you increase the threshold amount, this will also trigger an automatic transfer of funds into your cash account.
 
Please be aware that additional transactions posted to your cash account may delay the selling process of your investments. All transactions must be settled in your cash account before the investment transfer will occur.

How do pending cash account transactions impact investment sells?

It will take 3-4 business days for funds to be deposited into your cash account after the investment sell has been initiated.
 
Please be aware that additional transactions posted to your cash account may delay the selling process of your investments. All transactions must be settled in your cash account before the investment transfer will occur.

Will my spouse or dependent be able to obtain account information?

We take your protected health information (PHI) seriously and prioritize compliance with HIPAA laws. We will not release your medical information without your consent. If you are unable to speak on your own behalf or simply wish to provide one or more individuals with access to your medical information, you can add an authorized representative in your online account. You can also speak with us to provide someone with authorization. Please note that your authorized representative may speak with us to get information or ask questions, but they will not be able to update your demographic information or access or reset your login information.
 
To add an authorized representative in your online account, complete the following steps:

  1. Log in to your online account
  2. Navigate to the Accounts tab
  3. Under Profile, click “Profile Summary”
  4. Click “Add Authorized Representative”
  5. Review the information about authorized representatives, complete the required information for the authorized representative being added, and then click “Submit”
  6. View your newly added authorized representative in the Profile tab.

How do I change or add my banking account information?

You can change your banking account information at benefit-info.com/iu or the Mobile App. After you log in, click on Your Balances from the column on the left. Go to the Profile tab. Click on Banking/Cards in the left-hand column. In the middle, you will have the option to Add Bank Account or View/Update current bank account on file. Click on Add Bank Account to add your banking information. Click on View/Update to change your current bank account information. You will be asked to confirm the answer to your security question before your banking information will be updated. If you cancel this action, your banking information will not be updated. Please note, that adding a bank account will not automatically change your reimbursement method.
 
After you have added your banking account information you will receive an email with directions to complete an additional verification step and fully activate your account.

How often are the debit cards reissued?

Your debit cards will be reissued every three years for security purposes. The two original cards you were issued will be replaced with no additional cost to you. The replacement cards will arrive before the expiration of your current cards.
 
If you need cards reissued prior to expiration, you can request cards through benefit-info.com/iu. After you log in, click on Your Balances from the column on the left. Click on the Profile tab, and then click on Banking/Cards in the left-hand column. From this screen, you will click on Order Replacement. A confirmation screen will appear that asks to verify your address before issuing new cards. Click on Submit after you have verified your home address. If your address is incorrect, please contact your HR department to update it prior to requesting new cards.
 
Please note, each time you order replacement cards you will receive two cards and be charged $10.00.
 
Debit cards are not available for use with the Dependent Care FSA.

How do I report my debit cards as lost or stolen?

You can report your debit cards as lost or stolen by logging into your online account at benefit-info.com/iu or on the Mobile App. This will immediately suspend your cards from use. New cards will be mailed to you within 7 to 10 business days.
 
To report your cards as lost or stolen online, you must log in. Click on Your Balances from the column on the left. Click on the Profile tab, and then click on Banking/Cards in the left-hand column. From this screen, you will click on Report Lost/Stolen. A confirmation screen will appear that asks to verify your address before updating the card status. Click on Submit after you have verified your home address. If your address is incorrect, please contact your HR department to update it prior to requesting new cards.
 
You can also report your card as lost or stolen by emailing us at IUSupport@wexinc.com or by calling us at (800) 284-8412. Our hours of operation are Monday through Friday from 7:30 a.m. to 5 p.m. Eastern Standard Time.

Can I change or cancel my FSA after I have made my election?

Your election in the FSA is irrevocable. You cannot make a change in your election after your period of coverage begins. If you experience a qualifying Change in Status event, you may be permitted to change the election in your Healthcare FSA, Healthcare Limited FSA, or Dependent Care FSA. You will need to contact your HR department to process your Change in Status event. Your requested change must correspond to the event, and you must request the change within 30 days.
 
Qualifying Change in Status events that apply to Healthcare FSA, Healthcare Limited FSA, and Dependent Care FSA may include:

  • Change in your legal marital status – including the gain or loss of a spouse
  • Change in the number of your dependents – including gain or loss of taxable dependents
  • Change in your employment status or that of your spouse or dependents
  • Commencement of employment that triggers eligibility
  • Termination of employment that causes a loss of eligibility.

Qualifying Change in Status events that apply to Dependent Care FSA may include:

  • Change in your dependent care provider
  • Change in your dependent care needs
  • Change in the cost of dependent care
  • If the dependent care provider is a relative, an increase in fees is not a qualifying Change in Status event.

What are the ways that I can access my account?

To access your account, we have two user-friendly options; IU Benefits Mobile App and our website.
 
The IU Benefits Mobile App can be used on smartphones and tablets. Instructions for accessing the IU Benefits Mobile App are available under Forms & Resources at benefit-info.com/iu. You will use the following login credentials.
 
If you have logged in and have not changed your username from the 10-Digit Employee ID Number
 
Username: 10-Digit Employee ID Number
Password: Click forgot password follow the prompts
 
If you have logged in and changed your username from the 10-Digit Employee ID Number
 
Username: Enter your username
Password: Click forgot password follow the prompts
 
If you have never logged in: Click, Get Started follow the prompts
 
Your login will be the same for the mobile app or the online portal from the website.
 
The IU Benefits Mobile App and online portal will allow you to: view your balances, view account activity, view notification history, file claims, and submit receipts for outstanding debit card transactions.
 
Your account is automatically created when you are enrolled.

Will my spouse or dependent be able to obtain account information?

We take your protected health information (PHI) seriously and prioritize compliance with HIPAA laws. We will not release your medical information without your consent. If you are unable to speak on your own behalf or simply wish to provide one or more individuals with access to your medical information, you can add an authorized representative in your online account. You can also speak with us to provide someone with authorization. Please note that your authorized representative may speak with us to get information or ask questions, but they will not be able to update your demographic information or access or reset your login information.
 
To add an authorized representative in your online account, complete the following steps:

  1. Log in to your online account
  2. Navigate to the Accounts tab
  3. Under Profile, click “Profile Summary”
  4. Click “Add Authorized Representative”
  5. Review the information about authorized representatives, complete the required information for the authorized representative being added, and then click “Submit”
  6. View your newly added authorized representative in the Profile tab.

Where can I find a list of eligible expenses?

WEX Inc. provides a list of eligible expenses for reference on our website at benefit-info.com/iu. The Expense Eligibility Table is available in the left column under Instructional & Educational Resources. If you are still unsure after reviewing the table, you may pre-qualify expenses by submitting documentation to IUSupport@wexinc.com or by calling (800) 284-8412.

Are insurance premiums eligible for reimbursement?

Insurance premiums are not eligible for reimbursement through the FSA plans.

Are prepayments eligible for reimbursement?

Prepayments are not eligible for reimbursement. You are eligible to be reimbursed once the service or care has rendered. Documentation submitted for prepayment will be entered as a claim and put on hold until service or care has rendered. Once the service or care has rendered, reimbursement will occur.

Can I claim the fees I pay to my family member through the Dependent Care FSA?

The dependent care fees you pay to your relatives may be eligible for reimbursement through the Dependent Care FSA. The child care provider must have a Tax ID number or a valid Social Security number, and they must claim the fees as income on their taxes.
 
Child care provided by a parent or another dependent of the household will not be eligible for reimbursement per IRS guidelines.

Can I use my FSA to pay for Over-the-Counter (OTC) products?

Effective 1/1/20, over-the-counter (OTC) medicines are eligible for reimbursement from the FSA without a prescription. Medical devices, such as eyeglasses and braces, which are purchased over-the-counter may also be considered eligible for reimbursement from the plan.

What type of documentation is required for reimbursement?

According to IRS guidelines, all claims submitted through Flexible Spending Accounts (FSAs) must be substantiated by independent third-party providers to verify eligibility of the expenses. The third-party information must describe the following:

  1. Patient’s Name: The name of the person who received the service or for whom the item was purchased. For retail store purchases, this information may be excluded.
  2. Provider’s Name: The provider that delivered the service or the merchant where the item was purchased.
  3. Date of Service: The date when services were provided or the item was purchased.
  4. Type of Service: A detailed description of the service provided or item purchased.
  5. Cost: The amount paid for the service or product and/or the portion that is not reimbursed through your insurance carrier.

Health Care Expenses
 
If the expense was submitted to your insurance for payment, you will need to submit an Explanation of Benefits (EOB) to establish the amount that was not paid by the insurance plan. If the expense was not submitted to your insurance, you will need to submit itemized bills from the provider. If the expense was a prescription, submit the tag from the RX bag or a pharmacy summary. Please be aware that cancelled checks alone are not sufficient documentation to verify an expense. Keep the original receipts for your records and send copies.
 
For most medical expenses, proof of a payment is not required. For orthodontia expenses; however, you must include documentation to indicate when payment was made along with the above information.
 
If over-the-counter (OTC) products were purchased, you will need to submit a copy of the receipt clearly indicating the name of the OTC products purchased.
 
Dependent Care Expenses
 
In addition to the above requirements, Dependent Care FSA claims require additional information including:

  • Name and age of dependent
  • Provider information including name, address, and Tax ID number or Social Security number
  • Proof of payment

Does WEX Inc. contact my provider for documentation?

Due to HIPAA regulations, providers should only speak to the account holder. WEX Inc. does not contact your provider for any information on your account. The provider or your insurance carrier should provide you with documentation that can be used to substantiate your expenses. If an itemized statement is needed, it is your responsibility to contact the provider to request it.

When do I need to submit my claims?

Throughout the plan year, you may submit claims as often as you like. To verify your submission deadline date, you will need to log in to the website at benefit-info.com/iu. Click on the ? next to your account to see the Final Filing Date. Submissions received after that time will not be accepted. Online claims can be submitted at benefit-info.com/iu.
 
Healthcare FSA or Healthcare Limited FSA Claims must be submitted no later than February 28 of the following year.
 
Dependent Care FSA Claims must be submitted no later than April 15 of the following year.
 
You can also submit claims by filling out a claim form and include documentation for email, mail, and fax submissions. The form is available at benefit-info.com/iu under Forms & Resources. Claims are  processed in the order they are received. Submissions can be sent via email to IUSupport@wexinc.com, by fax to 1-888-887-9961, or by mail to:
 
IU HSA/FSA
c/o FSA
P.O. Box 2905
Fargo, ND 58108-2905

When looking online, it says that I have a pending payment. What does that mean?

A pending payment means that a claim is waiting to be paid out. Setting up direct deposit, funds are generally available within 24 hours but can take up to 72 hours to settle.

How do I change or add my banking account information?

You can change your banking account information at benefit-info.com/iu or the Mobile App. After you log in, click on Your Balances from the column on the left. Go to the Profile tab. Click on Banking/Cards in the left-hand column. In the middle, you will have the option to Add Bank Account or View/Update current bank account on file. Click on Add Bank Account to add your banking information. Click on View/Update to change your current bank account information. You will be asked to confirm the answer to your security question before your banking information will be updated. If you cancel this action, your banking information will not be updated. Please note, that adding a bank account will not automatically change your reimbursement method.
 
After you have added your banking account information you will receive an email with directions to complete an additional verification step and fully activate your account.

How can I appeal a claim that was denied?

If you do not agree with a denial, your recourse is to submit an appeal of denial to IUSupport@wexinc.com. All appeals must be in writing. The appeal will need to include the reason for your appeal and any additional documentation that is needed to support your appeal.
 
You may also mail the appeal to WEX Inc.:
 
IU HSA/FSA
c/o Claims Appeal
P.O. Box 2905
Fargo, ND 58108-2905

Do I need to re-enroll in the FSA each plan year?

Yes, you must make a new election to the Healthcare FSA, Healthcare Limited FSA, or Dependent Care FSA each plan year. See, What happens to my account balance at the end of the plan year for additional plan information.

What happens to the money deducted from my paycheck if I terminate employment?

Healthcare FSA and Healthcare Limited FSA

You may only be reimbursed for eligible services that rendered on or before your date of termination. For example, if you terminated on June 1st, you may be reimbursed for eligible expenses that incurred on or after your effective date and prior to June 2nd.

If you have been reimbursed less than you have contributed to the plan, you will be notified of how to continue the Healthcare FSA or Healthcare Limited FSA plan coverage through COBRA. If you choose COBRA continuation coverage, you must make after-tax contributions to the account in order to be reimbursed for expenses that incurred after your termination of employment, through December 31st of the year your employment ends. Provided no COBRA payments are missed.

Dependent Care FSA

You may only be reimbursed for eligible services that rendered on or before your date of termination. You will be reimbursed for qualified expenses until the funds in your account are exhausted or until the end of the plan year; whichever occurs earlier. COBRA does not apply to Dependent Care FSA

How often are the debit cards reissued?

Your debit cards will be reissued every three years for security purposes. The two original cards you were issued will be replaced with no additional cost to you. The replacement cards will arrive before the expiration of your current cards.
 
If you need cards reissued prior to expiration, you can request cards through benefit-info.com/iu. After you log in, click on Your Balances from the column on the left. Click on the Profile tab, and then click on Banking/Cards in the left-hand column. From this screen, you will click on Order Replacement. A confirmation screen will appear that asks to verify your address before issuing new cards. Click on Submit after you have verified your home address. If your address is incorrect, please contact your HR department to update it prior to requesting new cards.
 
Please note, each time you order replacement cards you will receive two cards and be charged $10.00.
 
Debit cards are not available for use with the Dependent Care FSA.

How do I report my debit cards as lost or stolen?

You can report your debit cards as lost or stolen by logging into your online account at benefit-info.com/iu or on the Mobile App. This will immediately suspend your cards from use. New cards will be mailed to you within 7 to 10 business days.
 
To report your cards as lost or stolen online, you must log in. Click on Your Balances from the column on the left. Click on the Profile tab, and then click on Banking/Cards in the left-hand column. From this screen, you will click on Report Lost/Stolen. A confirmation screen will appear that asks to verify your address before updating the card status. Click on Submit after you have verified your home address. If your address is incorrect, please contact your HR department to update it prior to requesting new cards.
 
You can also report your card as lost or stolen by emailing us at IUSupport@wexinc.com or by calling us at (800) 284-8412. Our hours of operation are Monday through Friday from 7:30 a.m. to 5 p.m. Eastern Standard Time.

What happens to my account balance at the end of the plan year?

The FSA “Use-or-Lose” rule has been modified to allow a carryover amount for the Healthcare FSA and Healthcare Limited FSA, and a grace period for the Dependent Care FSA at the end of the plan year.

  • Only expenses incurred during your period of coverage can be reimbursed by the FSA. Expenses incurred before or after the period of coverage are not reimbursable.
  • An expense is considered “incurred” when you are provided with the care that gives rise to the expense, not when you are formally billed, or pay for the service.
  • Up to $610 of unused dollars in the Healthcare FSA or Healthcare Limited FSA at the end of the 2024 plan year may be carried over; any amount greater than $610 will be forfeited to the plan sponsor after the claims filing deadline. Claims must be submitted no later than February 28 of the following year.
  • The Dependent Care FSA allows for a grace period that provides an additional 2 ½ months following the end of a plan year to incur expenses. Any balance left after the claims filing deadline will be forfeited to the sponsor. Claims must be submitted no later than April 15 of the following year.

Your election is irrevocable. You cannot change or cancel your election during the plan year unless you have a qualifying Change in Status event, and your adjusted election is consistent with such a change.

What is the FSA maximum contribution limit?

2024 Healthcare and Healthcare Limited FSA Contribution Maximum: $3,050
 
2024 Dependent Care FSA Contribution Maximum: $5,000 (for married employees who file their income taxes separately, the maximum is $2,500 each)