Tax-Advantage spending savings

Tax-Advantage Spending Savings

For employees who elect HealthSelect:

A TexFlex account is a flexible spending account (FSA) that allows you to set aside money from your paycheck pre-tax to use for eligible out-of-pocket expenses.  You can contribute to a health care and a dependent care account.   https://texflex.payflex.com/texflex/index.html

• Health Care account – Used to pay for eligible medical expenses
• Dependent Care Account - Used to pay qualified expenses, including child daycare and adult day care programs.

For employees who elect Consumer Directed HealthSelect:

• Consumer Directed HealthSelect savings account is administered by Optum bank: A health savings account (HSA) is a tax-advantaged medical savings account you can contribute to and draw money from to pay for certain medical expenses tax-free. HSAs can be used for out-of-pocket medical, prescription drug, dental and vision expenses.
• Dental
• Vision
• Optional Term Life Insurance
• Accidental Death and Dismemberment (ADD)
• Texas Income Protection Plan (reedgrouptipp.com)

 Should you wish to make changes after your first 31 days of employment:

• Qualifying Life Events allow an employee 31 days to make applicable changes.

Annual enrollment occurs each summer, typically in July.  The dates fluctuate and are determined by ERS.  Annual Enrollment communications regarding dates, rates, and changes come from ERS by email and US Mail and from TWU Office of Human Resources by email.

Page last updated 11:59 AM, June 15, 2022