HSA / FSA
CCMC offers two types of pre-tax accounts: a health savings account (HSA) and flexible spending accounts (FSAs).
When you put money into a pre-tax account, you can save up to 20%* on your care and increase your take home pay. This is because you don't pay tax on your contributions.
Enrolled in the Cigna OAP HSA or LocalPlus HSA? (Health Savings Account)
Consider contributing to a health savings account (HSA).
- CCMC contributes the following amounts per year:
- Individual—$800
- All other tiers—$1,600
- Roll-over all funds each year
- Invest funds for long-term savings
- Spend funds on non-qualified healthcare expenses penalty-free after age 65.
Enrolled in the Cigna OAP PPO or LocalPlus PPO? (Health Care Flexible Spending Account)
Consider contributing to a health care flexible spending account. If you contribute to an HSA, you cannot contribute to a health care FSA.
- No CCMC contribution
- You may roll-over up to $610 each year
Paying for Child or Elder Care Expenses? (Dependent Care Flexible Spending Account)
You may contribute to a dependent care flexible spending account.
- No CCMC contribution
- No roll-over allowed
- Dependent care expenses only
Health Savings Account
If you enroll in the Cigna OAP HSA or LocalPlus HSA, you are eligible to open and contribute to a health savings account (HSA) through HSA Bank.
An HSA is a savings account that you can use to pay out-of-pocket health care expenses with pre-tax dollars.
CCMC Contribution
If you enroll in the Cigna OAP HSA or LocalPlus HSA, CCMC will help you save by contributing to your account.
- Employee-only: $800 per year
- All other coverage levels: $1,600 per year
2024 IRS HSA Contribution Maximums
Contributions to an HSA (including the CCMC contribution) cannot exceed the IRS allowed annual maximums.
- Individuals: $4,150
- All other coverage levels: $8,300
If you are age 55+ by December 31, 2024, you may contribute an additional $1,000.
HSA Eligibility
You are eligible to fund an HSA if:
- You are enrolled in the Cigna OAP HSA or LocalPlus HSA.
You are NOT eligible to fund an HSA if: - You are covered by a non-HSA eligible medical plan, health care FSA, or health reimbursement arrangement.
- You are eligible to be claimed as a dependent on someone else’s tax return.
- You are enrolled in Medicare, TRICARE, or TRICARE for Life.
Refer to IRS Publication 969 for additional eligibility details.
Maximize Your Tax Savings With an HSA
Spend
Pay for eligible expenses such as deductibles, dental and vision exams, menstrual care products, and prescriptions.
Save
Roll over funds every year to boost your long-term savings. Even if you switch health plans or jobs, the money is yours to keep.
Invest
Invest and grow HSA funds tax free—including interest and investment earnings. After age 65, spend HSA dollars on any non-qualified healthcare expenses penalty-free.
Flexible Spending Accounts
CCMC offers two flexible spending account (FSA) options through WEX.
Health Care FSA
Pay for eligible out-of-pocket medical, dental, and vision expenses with pre-tax dollars.
The health care FSA maximum contribution is $3,200 for the 2024 calendar year.
Dependent Care FSA
The dependent care FSA allows you to pay for eligible dependent day care expenses with pre-tax dollars. Eligible dependents are children under 13 years of age, or spouse, a child over 13, or elderly parent residing in your home who is physically or mentally unable to care for him or herself.
You may contribute up to $5,000 to the dependent care FSA for the 2024 plan year if you are married and file a joint return or if you file a single or head of household return. If you are married and file separate returns, you can each elect $2,500 for the 2024 plan year.
Claim Substantiation
The IRS requires FSA participants to provide documentation (e.g., an explanation of benefits) to show that an expense is FSA-eligible. You can easily upload documentation to a claim by logging in to your online account at wexinc.com or taking a photo of your documentation with your phone’s camera and uploading it through the WEX mobile app. However, you have an additional 90 days after the plan year to submit claims for reimbursement for expenses incurred during the prior plan year.
How to Use an FSA
Contribute
Decide how much to contribute to your FSA on a plan year basis up to the maximum allowable amounts. This amount will be evenly divided by the number of pay periods and deducted on a pre-tax basis from your paycheck.
Pay
Use your FSA debit card to pay for eligible expenses at time of service or submit a claim for reimbursement at wexinc.com. Keep all receipts in case WEX requires you to verify the eligibility of a purchase.
Use It or Lose It
Use your FSA funds before the end of the year—any funds in excess of $610 will be forfeited.
Note: You have an additional 90 days after the plan year to submit claims for reimbursement for expenses incurred during the prior plan year.
How To Enroll
To enroll in benefits, log into workforcenow.adp.com and follow these steps:
- Enter your User ID and Password, and then click "Sign In."
Note: If this is your first time logging in, click the "Sign Up" button. If you are unsure of the registration code, please contact People Operations. - You will be asked questions regarding you and your family, including their birthdates and possibly their Social Security numbers and phone numbers.
- Don't forget to designate your beneficiaries, including primary and secondary, if applicable.
- Compare your plan options and choose the best benefit plan for you and your family. When you are ready to confirm your selections, click "Submit Enrollment."