ERS and Wage works are committed to providing participants with continued access to their TexFlex flexible spending account (FSA) benefits during this unique time.
As part of that commitment, Wage works extended the time you have to substantiate a debit card swipe. You will now have an additional 90 days (or 180 days from the date of the card purchase) to provide your documentation to WageWorks.
Please note: The Internal Revenue Service (IRS) still requires verification of all debit card charges for eligible expenses. This change gives you more time to submit your documentation.
CARES Act changes
The Coronavirus Aid, Relief and Economic Security (CARES) Act allows for the following changes to flexible spending accounts (FSA):
- Over-the-counter (OTC) drugs and medicines no longer require a doctor’s prescription in order to be paid for or reimbursed through an FSA. This means that participants in a health FSA can now use the benefit to pay for OTC items like cold medicine, allergy medicine and pain relievers, without having to make an extra trip to the doctor to receive a prescription. This new guideline is effective immediately and is retroactive to January 1, 2020.
- Menstrual care products are now eligible to be paid for or reimbursed through an FSA, HRA or HSA. This will allow participants in health FSAs to use their benefit to pay for menstrual care products, as they will now be considered qualified expenses. This new guideline is effective immediately and is retroactive to January 1, 2020.
TexFlexSM commuter spending accounts (CSA)
As state agencies implement health and safety measures recommended by the Centers for Disease Control and Prevention (CDC), some employees are moving to remote work status. If your daily commute is impacted by these actions and you experience reduced or eliminated daily commute expenses, you should consider reviewing your commuter spending account (CSA) contributions to make sure your election still fits your needs.
Here are some things to keep in mind as you review your CSA account and election options:
- The TexFlex CSA is a month-to-month program. This means you can change your contribution amount or disenroll from the program at any time. Elections must be made by the last business day of the month so the monthly contribution can be deducted the following pay period. Example: Changes made by April 30 are processed by May 31 and are deducted from your June 1 paycheck.
- Excess balances over $3 carry over month-to-month and you can use funds as long as you are actively employed. Balances of $3 or less will be forfeited.
- The IRS limits commuter reimbursement to $270 per month regardless of your account balance. Any unused amount exceeding $3 will carryover each month.
- If you’d like to check the balance on your card, please visit TexFlexERS.com. If you have questions, please call TexFlex Customer Care toll-free at (844) 884-2364, Monday-Friday, 7 a.m.-7 p.m. CT.
Source: ERS Update Express (April 2020)