Flexible Spending Accounts (FSAs)
Reduce your taxable income while paying for healthcare and dependent care expenses with pre-tax dollars.
Hexcel offers you the opportunity to set aside dollars in two separate tax-free accounts—one for qualified healthcare expenses and another for dependent care expenses.
The Hexcel Benefits Plan offers two FSAs: the Healthcare Flexible Spending Account and the Dependent Care Flexible Spending Account.
Important:
You can have only one healthcare spending or savings account: FSA or Health Savings Account (HSA). Regardless of your medical election, you are eligible to enroll in the Dependent Care FSA.
Healthcare FSA
The Healthcare FSA may be used for any medical, dental, and vision expenses not reimbursed by any other benefit plans. These expenses include deductibles, co-pays, coinsurance, dental services, eyeglasses, contact lenses, LASIK eye surgery, orthodontics for adults and children, hearing aids, chiropractor, some diabetic supplies, medical equipment, and other out-of-pocket costs not covered by our health, dental, or vision plan. Note: the Healthcare FSA cannot be used to pay for your medical insurance premiums.
You pay no federal or state income taxes on the money you place in an FSA. The maximum yearly contribution is $3,400 for 2026.
Eligible Expenses
The IRS has a list of expenses that can be funded with tax-free FSA dollars. This listing, Publication 502-Medical and Dental Expenses, is available at irs.gov. When you enroll in a Healthcare FSA, the full amount you choose to contribute for the year is available to you on the first day of the plan year, even though you haven’t yet made all of your contributions through payroll deductions.
How a Healthcare FSA works
Choose a specific amount of money to contribute each pay period, pre-tax, during the year.
The amount is automatically deducted from your pay at the same level each pay period.
As you incur eligible expenses, you may use your WEX Debit Card to pay at the point of service or submit the appropriate paperwork to be reimbursed by the plan.
Dependent Care FSA
The Dependent Care FSA may be used to pay for expenses for your tax-qualified dependents. These generally include your children up to age 13 and/or your elder parents who live with you. Qualifying expenses include daycare fees, before-school and after-school care, local day camp, and elder care.
If you are married, your spouse must either be employed or a full-time student in order to use a Dependent Care FSA.
Under IRS guidelines, you can be reimbursed only for dependent care that has already taken place. Also, you can only be reimbursed for the amount you have already contributed to your Dependent Care FSA. The IRS limits the total amount of money you can contribute to a dependent care account to $7,500 each year for married couples filing jointly, unmarried couples, and single individuals, and $3,750 if you are married and filing separately.
How a Dependent Care FSA works
Choose a specific amount of money to contribute each pay period, pre-tax, during the year.
The amount is automatically deducted from your pay at the same level each pay period.
As you incur eligible expenses, submit the appropriate paperwork to be reimbursed by the plan. You can only ask for reimbursement up to the amount of money you currently have in your account.
Provider Info
WEX
Flexible Spending Accounts
866-451-3399
wexinc.com
Critical Deadlines and Rules:
2025 plan year upcoming deadline:
- You have until March 15, 2026 to incur services for your 2025 Healthcare or Dependent Care FSA.
- You have until March 31, 2026 to request reimbursement for healthcare or dependent care expenditures incurred before March 15, 2026.
For the 2026 plan year:
- You have until March 15, 2027 to incur services for your 2026 Healthcare or Dependent Care FSA.
- You have until March 31, 2027 to request reimbursement for healthcare or dependent care expenditures incurred before March 15, 2027.
Once you enroll in a Healthcare or Dependent Care FSA, you cannot change your contribution amount during the year unless you experience a qualifying life event (limitations may apply).
You cannot transfer funds from one FSA to another.