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Flexible Spending Accounts

STMA offers Medical Flexible Spending Accounts and Dependent Care Flexible Spending Accounts for employees working 15 or more hours per week through WEX. Plans run October - September for existing employees to enroll or re-enroll.  New employees have 30 days to enroll (Mid-year changes can only be made with a qualifying event. 

Flexible Spending Accounts allow employees to set aside money to pay for Dependent Care Expenses,  FSA Medical Spending Account, and some eligible expenses for FSA Spending Accounts with pretax money.

FSA Medical Spending Account has a maximum annual election amount of $3,050 for 2023. 

The Affordable Care Act (ACA) modified the flexible medical spending plans to allow for a $570 rollover. This means that if you do not incur qualified medical expenses before September 30, 2022, you can roll over up to $570 of your annual election to use in the next plan year.

FSA Dependent Care Spending Account has a maximum annual election amount of $5000.  No rollover option.

HSA Limitations

If you have a current FSA, this will disqualify you from contributing or receiving district contributions to an HSA for the entire plan year unless the FSA is a limited (dental & vision) plan. Further will automatically limit your FSA if you open an HSA through ISD 885. For more information, check out WEX