Health Care Flexible Spending Account

The HCFSA and LPFSA are an easy way to prepare for eligible health care expenses that you or your eligible dependents incur during the Plan Year.

CarMax offers a Health Care Flexible Spending Account and a Limited Purpose Flexible Spending Account through Anthem to eligible Full-Time Associates, depending on the Medical Plan you select.

Contributions are 100% Associate-paid.

Plan Benefits

Anthem administers the Health Care Flexible Spending Account (HCFSA) and Limited Purpose Flexible Spending Account (LPFSA).

The HCFSA and LPFSA are an easy way to prepare for eligible health care expenses that you or your eligible dependents incur during the Plan Year.

The HCFSA may be used by participants in the PPO and Health Reimbursement Account (HRA) Plans or the Kaiser Plan to offset the cost of eligible medical, dental, and vision care expenses not reimbursed through your programs.

The LPFSA may be used by participants in the Health Savings Account (HSA) Plan to offset the cost of eligible dental, and vision care expenses not reimbursed through your dental, and vision programs, or the cost of medical expenses after you have satisfied your Medical Plan Deductible.

The Plan Year is from March 1 through End of February.

Eligibility & Enrollment

Eligibility

Associate: You are eligible to join the Health Care Flexible Spending Account (HCFSA) or Limited Purpose Flexible Spending Account (LPFSA) on your thirtieth (30th) day of employment (this period is called the Waiting Period) if you are classified in Workday as a Full-Time Associate.

Be sure to select the right Health Spending Account based on your Medical Plan election (PPO, HRA, Kaiser Plan, or HSA)

If your status changes to Full-Time in Workday, you are eligible to join or re-enter the Plan as of the first of the month after the status change.

Enrollment

New Hires and Rehires: Enroll online at benefits.carmax.com within 30 days from your hire date. Your coverage will be effective on the 30th day of employment provided you enroll in coverage by that date.

Health Care FSA Fun Facts

Expenses

For a list of qualified expenses, call an Anthem Health Guide at (833) 290-2480, visit anthem.com, or visit the Engage Wellbeing App.

Contributions

Contribution Amount

The maximum Health Care Flexible Spending Account (HCFSA) plan year pledge per Associate is $3,299, or Maximum IRS allowable Limit.

The maximum Limited Purpose Flexible Spending Account (LPFSA) plan year pledge per Associate is $1,500.

Carefully estimate your pledge amount. Under IRS “use it or lose it” rules, any unused contributions that remain in your HCFSA at the end of the Run-out Period (described below) must be forfeited, except for the permitted rollover amount*. To be eligible for a rollover in the next plan year, you must elect to participate in the HCFSA or LPFSA for that year.

If you have an HCFSA but enroll in the LPFSA for a subsequent Plan Year, your rollover will be automatically transferred to your LPFSA.

You cannot change your contribution during the Plan Year unless you have a change in status event, and even in that case, IRS rules may limit your ability to modify your election.

Claims

Engage Wellbeing App

With the Engage Wellbeing App from Anthem, you can file and manage reimbursement claims paperwork on the spot, with a click of a smartphone or mobile device camera from anywhere. To use the Engage Wellbeing App, simply download it from the App Store® or Google Play™. You will have direct secure access to your Anthem member portal when connected through the Engage Wellbeing App. Claims should be submitted for reimbursement through your Anthem member portal – click on My Plans and then Spending Accounts.

Debit Card

You will receive a Health Care Flexible Spending Account (HCFSA) /Limited Purpose Flexible Spending Account (LPFSA) debit card to pay for eligible expenses. You must get a receipt each time you use your card. The receipt must include the date, amount, and nature of the expense (e.g., what service or treatment was provided). You may be required to submit your receipts to verify your claim. The Engage Wellbeing App can also be used to file and manage reimbursement claims

Contact Information

For more information, call an Anthem Health Guide at (833) 290-2480, visit anthem.com, or visit the Engage Wellbeing App.

Unsubstantiated FSA Claims Resources

If an Anthem spending account payment card transaction was not automatically substantiated, you have been notified of an “unsubstantiated claim” that needs to be resolved by providing supporting documentation. Additional resources, including member insurance portal registration and how to access your Explanation of Benefits (EOB) can be found here.

2025 Spending Account Comparison Chart

To view 2024 Spending Account Comparison Chart, Click Here

	Health Reimbursement Account	Health Savings Account	Health Care FSA	Limited Purpose FSA	Day Care Savings Account
Available if you don't participate in a CarMax Medical Plan	No	No	Yes	No	Yes
Available if you enroll in the HSA Plan	No	Yes	No	Yes	Yes
Available if you enroll in the HRA Plan	Yes	No	Yes	No	Yes
Available if you enroll in the PPO Plan	No	No	Yes	No	Yes
CarMax Contributions	$300 Associate Only $600 Associate + Dependent(s)/Family	$300 Associate Only $600 Associate + Dependent(s)/Family	None	None	None
You can contribute funds up to the IRS annual maximum	No	$4,300 Associate Only $8,550 Associate + Dependent(s) / Family Additional $1,000 contribution allowed if age 55 and over	$3,299, or maximum IRS allowable limit	$1,500	$4,999 or maximum IRS allowable limit
Your per-paycheck contributions reduce your taxable income	N/A	Yes	Yes	Yes	Yes
Contributions earn interest on a tax-deferred basis and can build long-term savings	No	Yes, may build long term savings	No	No	No
Contributions roll over year-after-year	Yes, as long as you continue to enroll in the HRA plan	Yes	Yes, up to $660 as long as you elect to continue to participate	Yes, up to $660 as long as you elect to continue to participate	No
You can change contribution elections anytime during the plan year	No	Yes	No	No	No
You can take your account with you if you leave CarMax	No	Yes	No	No	No
You can spend before available funds are deposited	No	No	Yes	Yes	No
Funds are available for eligible medical, dental, and vision expenses	Yes, money is automatically deducted for eligible medical expenses; you’ll get a debit card to use for eligible prescription drug, dental, and vision expenses	Yes	Yes	Dental and vision only	No
Funds are available for eligible child and elder day care expenses incurred to enable you to work	No	No	No	No	Yes

Explore Your Wealth Benefits

Health Care Flexible Spending Account