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Effective July 1, 2022 UNM transitioned FSA benefit vendors from McGriff Insurance Inc. to WEX Health Inc.
The transition may cause some reimbursements to be delayed.
Blackout Period for submitting claims for the 2021-2022 (FY22) Plan Year takes place from
July 1 – Aug. 19, 2022
UNM offers Flexible Spending Accounts (FSAs) to active benefits eligible employees through WEX Health Inc. Save money by using an FSA to pay for eligible health care or dependent day care expenses.
Enrollment in an FSA means that you will automatically set aside money from each paycheck into an account that you can use throughout the year to reimburse yourself for certain qualified expenses. The deduction from your paycheck is on a pre-tax basis which, therefore, reduces your federal, state, and social security taxes. Further, you are not taxed on your reimbursements.
You may enroll in one or both accounts, depending on your needs.
The Health Care FSA reimburses you for certain health care expenses that are not covered by any health plan for you and your eligible dependents, as outlined in the IRS guidelines.
The Dependent Care FSA reimburses you for dependent day care expenses as defined by the IRS. Care may be provided in your home or at another location but not by someone who is your minor child or dependent for income tax purposes (e.g. an older dependent child). If the services are provided by a day care facility that cares for six or more individuals at the same time, the facility must comply with state day care regulations.
For both accounts, there is an annual election limit. See below for these dollar amounts as they may change year to year.
Once enrolled, you may use your FSA benefits as long as you remain in a UNM benefits eligible position.
Upon enrollment in an FSA plan, you will receive a WEX Benefits Card by U.S. Mail, that functions as a debit card wherever MasterCard or Visa is accepted, from physician and dental offices to pharmacies and vision service locations.
Approved expenses are automatically deducted from your Health Care FSA and/or Dependent Care FSA. Make sure you retain your receipts as the FSA Administrator may require you to provide them to ensure purchases were for eligible items.
Advantages of the WEX Benefits Card include:
Health Care FSA funds can be used for:
WEX will mail a Benefits Card to your address on file with UNM when you enroll. Review your address in the UNM portal, and update it if needed to ensure your card and other benefit-related correspondence is mailed to the correct address*.
For replacement cards*, use the WEX member portal or contact WEX directly.
*Make sure your address is updated with UNM and WEX when enrolling or ordering a new card.
Effective July 1, 2022, UNM transitioned FSA benefit vendors from McGriff Insurance Inc. to WEX Health Inc.
Below is the Transition period for any remaining unused funds (from FY22: July 1, 2021 – June 30, 2022) permitted to either carry over under the Health Care FSA or access through the Grace Period for Dependent Care Account Plan.
The Blackout Period to transition remaining plan information for FY22 from McGriff to WEX will run from July 1 to Aug. 19. All unsubstantiated claims submitted to McGriff as of June 30 will need to be processed by WEX. We recommend that you DO NOT SUBMIT claims to WEX for unused funds from FY22 prior Plan Year until after August 19, 2022.
Transition Period:
If you did not enroll in a Healthcare FSA for the 2022-2023 Plan Year (FY23), but have a carry-over from FY22, then your debit card will arrive in 10-14 business days after the transition is complete.
If you enrolled in a Healthcare FSA for FY23, you may have already received your debit card, and you may begin using it on 7/1/2022 for reimbursement for claims incurred in the FY23 Plan Year.
Beginning July 1, WEX Inc. will administer UNM Health Care and Dependent Care FSAs. Check your mail around July 1 for your new FSA Debit Card.
Health Care FSA
Dependent Care FSA
Health Care FSA
Dependent Care FSA
Election limit per tax return filing status:
If married, both you and your spouse must be actively employed. If one spouse is actively employed, the other spouse must be incapable of self-care or a full-time student.
The funds to be used from your dependent care FSA must not exceed the lesser of your or your spouse’s earned income for the plan year.
General FSA Documents & Forms
First, verify your eligibility.
Next, you may take advantage of these three enrollment opportunities:
Note: If you separate from employment, termination of coverage will occur; however, you may elect to continue coverage in accordance with COBRA.
Be prepared to provide the last four digits of your
UNM ID (in lieu of SSN) so WEX can access
your FSA account details.
