What is TexFlex?

What is TexFlex?

What is TexFlex? A TexFlex account is a flexible spending account (FSA) that lets you set aside money from your paycheck, pre-tax, to use for eligible out-of-pocket expenses. You can contribute to a health care, limited care and/or a dependent care accounts.

Is TexFlex a FSA?

When you sign-up for either a TexFlex health care or limited-purpose FSA, you’ll receive a free debit card in the mail to pay for eligible health care expenses. Because the TexFlex FSAs are tax-free, the Internal Revenue Service (IRS) requires all purchases with TexFlex funds to be validated.

What can you buy with TexFlex card?

The IRS requires only eligible expenses be purchased using TexFlex account funds….Eligible expense include:

• copays, deductibles or coinsurance for medical, dental or vision plans.
• prescription medications.
• glasses, contacts, or laser eye surgery.
• orthodontia treatments, such as braces.

What is TexFlex debit card?

When you enroll in an Limited FSA, you will automatically receive a free TexFlex debit card. The TexFlex debit card gives you immediate access to your entire annual contribution amount. Just swipe the card when it’s time to pay for your eligible dental and vision expenses.

Is there a PayFlex app?

The redesigned PayFlex Mobile® app helps you make decisions for your financial wellness, with ease. You have the control and flexibility to manage your Flexible Spending Account (FSA), Health Savings Account (HSA) and/or Health Reimbursement Account (HRA) in real-time.

Is TexFlex a health savings account?

A TexFlexSM health care flexible spending account (FSA) is available to benefits-eligible employees not enrolled in Consumer Directed HealthSelectSM. The health care FSA lets you set aside money on a pre-tax basis—for both you and your eligible dependents—to pay for eligible health, dental and vision expenses.

Is TexFlex an HSA?

If you contribute to an HSA, you can’t participate in a health care flexible spending account (FSA), like the one offered through TexFlex. If you’re an active employee, you can enroll in a special type of TexFlex account called a limited-purpose FSA and use the account for qualified vision and dental expenses.

How do I pay with PayFlex?

How does it work?

1. Select “Payflex” at checkout.
2. Enter your personal details – Name, Email, cellphone number, SA ID number.
3. Confirm your cellphone number – Payflex will send you a one-time PIN via SMS.
4. Payflex completes an eligibility check.
5. Make your first payment with any VISA or Mastercard debit, cheque or credit card.

How do I get reimbursed from PayFlex?

If you have a PayFlex FSA or HRA, you can use the app to submit a claim to pay yourself back for an eligible expense you paid out of pocket. After you log in to the app, select Manage to get started. To send documents with your claim, simply take a picture and upload it through the app.

Is HSA taxable in Texas?

Texas Income Tax Treatment on HSA Contributions Since Texas does not impose a state income tax, HSA contributions have no impact on state tax liability.

What is a PayFlex account?

The PayFlex™ Card is a debit card that electronically accesses your health care account to pay for eligible expenses. You can use the card at qualifying merchant locations wherever MasterCard® is accepted. This includes places such as physician and dental offices, pharmacies and even vision providers.

What happens if you miss PayFlex payment?

If we have not received an Instalment Payment on its due date, then we will automatically charge a Default Fee to the Instalment Plan and will continue to charge an additional Default Fee every week thereafter, until either (i) we have received full payment on your outstanding balance (including any Default Fees) or ( …