Flexible Spending Accounts (FSA)

2021 Medical & Dependent Care FSA Update

With the recent signing of the Consolidate Appropriates Act, 2021, the City of Winston-Salem is able to make changes to our medical and dependent care flexible spending account (FSA) plans. Our goal is to assist employees as we continue to navigate the effects of the COVID-19 pandemic. Here are the two key changes to City’s FSA plans.

  • The City of Winston-Salem will allow any remaining balance at the end of the 2020 Plan Year to roll into the 2021 Plan Year. Previously, the IRS regulations only allowed employers to allow a maximum of $550 to be rolled over. If you had a balance in your medical or dependent care FSA in 2020, the amount will automatically be rolled over into the 2021 Plan Year by Savers Admin. You can log onto your Savers Admin account to review your balances at https://saversadmin.wealthcareportal.com/Authentication/Handshake. If you need to register, your Employee Identification is your 5-digit City Employee Number. For the Registration Identification: Select Employer Identification from the drop-down and enter: SAVCWSNC or select Card Number from the drop-down and enter your 16-digit Benefit Card (MasterCard) number. You can also call Savers Admin at 336-837-6712 or 1-800-949-0311. 
  • The City of Winston-Salem is also allowing employees to make changes to medical and dependent care FSAs throughout 2021 without having a qualifying life event status change. This means you can enroll, discontinue, and/or change the amounts of your deductions at any time in Plan Year 2021. The form that you will need to complete and return to Human Resources is here.

Managing Company

Savers Administrative Services, Inc. (Savers Admin) manages the Flexible Spending Accounts (FSA). Review getting the most from your Flexible Benefits Plan (PDF). This include information on:

  • Additional Benefit Card Request
  • Direct Deposit Authorization
  • Eligible Health FSA expenses
  • FSA benefits worksheet to help estimate annual out-of-pocket expenses
  • FSA estimated tax savings
  • Information about the MasterCard Benefit Card
  • What is a Dependent Care Account
  • Why you may need a FSA

You may contact Savers Admin at 336-837-6712 or 800-949-0311, or email Savers to learn more. Visit the Savers Admin website or the account login page.

Creating An Online Account

With an online account, you can check your balance, view transaction history, submit reimbursement claims, and more. Access the Savers Admin Participant Portal and do the following:

  • Click Register to create your online account
  • Your Employee Identification is your 5-digit City Employee Number
  • For the Registration Identification:
    • Select Employer Identification from the drop-down and enter: SAVCWSNC or select Card Number from the drop-down and enter your 16-digit Benefit Card (MasterCard) number

About FSAs

FSAs allow you to set aside a portion of your earnings on a tax-free basis for qualified medical or dependent care expenses. You can elect an annual allocation to deposit into a medical and/or dependent care account for qualified expenses for yourself, your spouse and dependents. The account balance for medical FSAs will be available to you immediately at the beginning of the plan year. Funds in a dependent care account must be accrued with each payroll deduction.

All employees who sign up for a medical and/or dependent care flexible spending account will receive a benefit card (MasterCard) to use for medical expenses as well as dependent care expenses. When you swipe your card, the funds will be automatically deducted from your FSA account and paid directly to the service provider. There is no annual fee associated with the card. If you lose your card, or need additional cards, there is a one time $5 fee.

Eligible Expenses

Qualified eligible medical FSA expenses include:

  • Co-payments
  • Deductibles
  • Dental
  • Hearing aids
  • Medical
  • Prescriptions
  • Vision care

Dependent care FSA expenses include day care (children and adult) and after-school programs. You must enroll annually for these accounts.

Contributions

The medical FSA annual minimum contribution is $130; the annual maximum contribution is $2,750 (2021). The dependent care FSA does not have an annual minimum; the annual maximum is $5,000 per household.