Frequently Asked Questions
If you experience a qualifying life event, you may edit your benefits within 31 days of the event date. Log in to BenefitFocus to make your changes. Be sure you have documentation available should they be necessary for your life event.
Health Savings Account (HSA)
To be an eligible individual and quality for an HSA, you must meet the following requirements:
- You must be covered under a qualified high deductible health plan (HDHP) – WKU’s Saver 2,700 Plan is a qualified HDHP
- You are not enrolled in Medicare
- You cannot be claimed as a dependent on someone else’s tax return
- You have no other health coverage except what is permitted (as described below)
An employee cannot be covered under an HDHP and contribute to an HSA if:
- You are covered by another non-HDHP plan with a health care FSA or HRA that reimburses qualified medical expenses
- This includes a spouse’s plan, even if you are not enrolled on the plan, because you are considered to be covered under the HRA or FSA as an IRS eligible dependent
An employee can be covered under an HDHP and contribute to an HSA if:
- You are covered by another HDHP plan with an HSA; however, your annual contributions cannot exceed the IRS family limit
- You have a Limited-purpose FSA or HRA for dental and vision expenses only
Health Reimbursement Arrangement (HRA)
Flexible Spending Account (FSA)
FSA stands for Flexible Spending Account. There are 3 types of FSA’s available to WKU employees:
- Healthcare FSA – Employees can contribute pre-tax funds (up to $2,650 per year) to an HC FSA to use for medical, dental, and vision expenses. The HC FSA can be used with the PPO/1,000 and PPO/1,500 Health Plans. Unused HC FSA funds up to $500 can be carried-over to the next plan year. Employees must continue participation in the FSA plan for the carry-over funds to apply.
- Limited-purpose FSA – Employees can contribute pre-tax funds (up to $2,550 per year) to a Limited-purpose FSA to use for dental and vision expenses only. The Limited-purpose FSA can be used with the Saver/2,600 Health Plans. Unspent funds up to $500 can be carried-over to the next plan year. Employees must continue participation in the FSA plan for the carry-over funds to apply.
- Dependent Care FSA – Employees can contribute pre-tax funds (up to $5,000 per year) to a Dependent Care FSA to use for day care related expenses for children and adult care expenses. Funds must be used by December 31st each year.
Additional details and lists of FSA eligible expenses can be found online at www.healthequity.com
Remember, there is a risk of forfeiture as the FSA account only allows up to $500 in unspent funds to carry over to the next plan year, but you must re-enroll for the FSA to receive the carry over.