wageworks - government of los angelesabout wageworks • we have managed the city’s health and...
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WageWorks Tax-Advantaged Spending Accounts
Annual Service Review
City of Los Angeles
9.7.17Joint-Labor Management Benefits Committee
About WageWorks
• We have managed the City’s Health and Dependent Care Flexible
Spending Accounts and Commuter Benefits since 2008
• We serve approximately 6.5M participants and 100,000 clients including
the Cities of Chicago, Philadelphia, New York, and Los Angeles County
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Healthcare FSA Eligible Expenses
Use Your FSA to pay for:• Prescriptions for almost any medical condition
• Prescribed over-the-counter medicines, e.g. aspirin, cough syrup
• Co-payments, co-insurance, and deductibles
• Dental care, both preventive and restorative
• Orthodontia, child and adult
• Vision care, eyeglasses, contact lenses, solutions
• Eye surgery, including laser vision correction
• Counseling and therapy
• Psychology and psychiatry
• Chiropractic care and acupuncture
• See www.wageworks.com/myfsa for more
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2013-16 Health Care FSA Highlights
• 24% Participation Growth
• $970,000 in Cumulative Employer FICA Savings
• $3.8M in Cumulative Employee Tax Savings*
• $440 in Annual Tax Savings per Participant*
1,936
2,016
2,275
2,398
0 500 1,000 1,500 2,000 2,500 3,000
2013
2014
2015
2016
Participants
Year
Number of HCFSA participants in 2013-2016
4*Estimated 30% Tax Savings
Use the WageWorks Card to pay instantly
• Works like a debit card
• Funds come directly from your Healthcare FSA
• No PIN required
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Dependent Care FSA Eligible Expenses
The Dependent Care FSA pays for:
• Before/after school care
• Au pair services
• Extended day programs
• Preschool/nursery school
• Summer day camp
• Elder day care
Ineligible expenses include:
• Overnight camps
• Kindergarten or higher-grade tuition
• Non-work-related day care
• Long-term elder care services
See www.wageworks.com/mydcfsa for more information on eligible expenses
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2013-16 Dependent Care FSA Highlights
• 15% Participation Growth
• $743,000 in Cumulative Employer FICA Savings
• $2.9M in Cumulative Employee Tax Savings*
• $1,150 in Annual Tax Savings per Participant*
591
581
681
677
520 540 560 580 600 620 640 660 680 700
2013
2014
2015
2016
Participants
Year
Number of DCFSA participants in 2013-2016
7*Estimated 30% Tax Savings
• Near your work
• Near a place from which you
commute to work via mass transit
• Employer-Owned Parking
• Buses
• Trains
• Subways
• Ferries
• Streetcars
• Vanpool
• Select Ride Sharing
Commuter Plan Eligible Expenses
Parking Transit
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Commuter Plan Highlights
• 65% Participation Growth for Commuter Plan
• $239,000 in Cumulative Employer FICA Savings
• $936,000 in Cumulative Employee Tax Savings*
• $460 in Annual Tax Savings per Participant*
387
487
546
638
0 100 200 300 400 500 600 700
2013
2014
2015
2016
Participants
Year
Number of Commuter participants in 2013-2016
9*Estimated 30% Tax Savings
WageWorks Solutions – Providing Access
WageWorks EZ Receipts®
• File a claim and get reimbursed quickly
• View transactions and benefit account balances using a single login
• Snap a photo of receipts and submit them for payment
• Receive confirmation emails when claims are received, processed, or paid
• Receive text messages when card verification is required, a transaction is denied, or a claim has been processed
Or online at WageWorks.com
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Innovations
Mobile App Enhancements
• Optional push notifications – including:
o New Card Transaction Needs Receipt.
o Card Transactions Need Receipt (Monthly Reminder)
o Claims Deadline Approaching.
o Claim was Processed.
o Claim was Paid.
o Monthly Commuter Order Deadline is Approaching.
Improved Access to Benefit Information for Participants
• New Claims & Activity Search by Process Date.
Planned Enhancements for 2018
• Text messages updated to include Stop and Help instructions in every text.
• Participants will now be able to go through the forgot username and password options directly on the app.
• Participants will now be able to register for their online account directly on the app.
• A new custom message area to be added to the beginning of each online claims path which will be editable via the employer website.
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Thank you.
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