Flexible spending accounts (FSAs)

Using an FSA is like getting a discount because you’re paying with tax-free money.

The FSAs, managed through WEX, are tax-free savings account to use for eligible expenses. Unlike the HSA, you must use the funds in the FSA by the end of the year-or lose it. You must enroll in the Flexible Spending Accounts within your first 30 days from hire, or you will have to wait until next annual enrollment period for coverage effective for the following year. You may change these elections during the year if you experience an eligible qualifying event.

Health care FSA	Limited purpose FSA	Dependent care FSA
Eligibility
Available to employees who are not eligible for an HSA or do not elect Chubb medical coverage.	Available only to employees who enroll in the Health Savings Account (HSA).	Available to all employees.
Expenses
Eligible medical, prescription drug, vision and dental expenses.	Eligible dental and vision expenses. After you meet the 2025 IRS-required medical deductible of $1,600 (employee-only) or $3,300 (family), eligible medical and prescription drug expenses are allowed.¹	Eligible dependent care expenses for children up to age 13 and dependent elders. This can include adult day care, after school programs, babysitting while you work and day camp. This account is not for health care expenses. For more information, see IRS Publication 503.
2025 pre-tax contribution limits
$3,200 (at time of publication)	$3,200 (at time of publication)	$5,000 (at time of publication)
Use it up
Your entire annual contribution amount is available to you from the beginning of the plan year. Only up to $640 of unused money will carry over into the next year. The rest is forfeit.	Your entire annual contribution amount is available to you from the beginning of the plan year. Only up to $640 of unused money will carry over into the next year. The rest is forfeit.	You only have access to money that has been deposited into your account. Unused money does not carry over at the end of the year—use it or lose it!
Use your WEX benefits card or log into your account to request reimbursement for payments you’ve made.

¹ If you reached the required deductible for dental and vision expenses, you must complete a deductible Verification form before submitting eligible expenses.

Submit your FSA claims for reimbursement

Active employees can submit eligible FSA claims and supporting documentation by March 31 of the following plan year. Log into your WEX account, which you can access by going to the Chubb Benefits Portal. If you separate from Chubb, you will have 90 days from your termination date to submit claims for reimbursement of expenses incurred through your termination date.

Keep your receipts

Supporting documentation is important. You may be asked to provide substantiation for your expenditures, so keep your receipts. If you do not provide the necessary documentation to substantiate your claims under your spending accounts, the IRS has the right to tax those amounts as income.

FSA checklist

Submit your eligible 2024 FSA claims by March 31, 2025. Log into your WEX account. Don’t forget your supporting documentation!
Keep your receipts. If you do not provide the necessary documentation to substantiate your claims when asked, the IRS has the right to tax those amounts as income.

Flexible Spending Accounts

Flexible spending accounts (FSAs)

1 If you reached the required deductible for dental and vision expenses, you must complete a deductible Verification form before submitting eligible expenses.

¹ If you reached the required deductible for dental and vision expenses, you must complete a deductible Verification form before submitting eligible expenses.