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Yes; however, when you are enrolled in both accounts, your FSA funds can only be used for dental and vision expenses until your annual HDHP deductible is met. Once you meet your deductible, and provide proof of meeting your deductible to WEX, funds in your Healthcare FSA can be then used for medical and prescription expenses incurred from that date forward. The IU Benefit Card will automatically begin pulling all expenses from your FSA first, then from your HSA once FSA funds are exhausted. You also have the option to pay for expenses out-of-pocket, then submit a claim for reimbursement to WEX.

Website: www.benefit-info.com/iu/
Mobile App:  IU HSA/FSA for Apple or Android

Follow these instructions to create your initial web or mobile app accounts.

First, you must authorize WEX to direct deposit reimbursements from your Healthcare FSA (paper reimbursement checks are not issued). You can submit your bank account information online by logging in to www.benefit-info.com/iu/, or by submitting a paper Direct Deposit Authorization / Termination Form to WEX. All claims for reimbursement will be held until your direct deposit authorization has been received by WEX.

Then, there are two ways to use the funds in your Healthcare FSA. You may:

• Use the IU Benefit Card to pay for your expenses at the time of service.
• Pay out-of-pocket, then request reimbursement from WEX. Claims can be submitted by logging in to www.benefit-info.com/iu/ or by submitting a paper FSA Claim Form to WEX. Both must include supporting documentation in the form of a copy of the receipt for the service or purchase, a copy of a confirmed online bill payment, or a copy of a health claim EOB from the insurer. Each document must include the following:
  • Name of provider
  • Date of service/purchase
  • Type of service/purchase
  • Charge (amount) for each service/purchase

The IU Benefit Card is a debit-type Visa card that allows participants to pay for purchases and services from their Healthcare FSA, their Health Savings Account (HSA), or both. When you are enrolled in both the Healthcare FSA and the HSA, your IU Benefit Card is a “stacked card.” This means that when you use the card at a medical or pharmacy provider, the card will automatically draw from your HSA. When used at a dental or vision provider, the card will automatically draw from your FSA funds first, then from your HSA once the FSA funds have been exhausted.

See the IU Benefit Card Terms and Conditions for detailed information.

Note: The IU Benefit Card cannot be used for Dependent Care FSA expenses.

This account allows you to set aside tax-free money to reimburse yourself for day/evening care expenses for your children under age 13 or your other qualifying tax dependents which allow you and your spouse to work.

Healthcare FSAs allow up to $610 (2024) of unused funds to be rolled over into a new account at the end of the plan year to be used for your eligible healthcare expenses in the following plan year.

If you have a balance above the rollover amount remaining in your Healthcare FSA on December 31:

• You have until February 28 of the following plan year to submit claims for reimbursement.
• Any remaining funds in excess of the rollover amount after February 28 are forfeited.

• Usual usage restrictions apply when enrolled in both the HSA and Healthcare FSA .

Dependent Care FSAs do not have a carryover provision. Claims for expenses incurred between January 1 and March 15 of the following year must be submitted by April 15. Any unused funds in the account after April 15 are forfeited.