Verizon Members: Flexible Spending Accounts (FSA)
Effective July 1, 2019, Health Care and Dependent Care Spending Accounts will transition to a new third party administrator, "Wage Works"
There are no changes to the plan.There is a two page attachment which has all of the information regarding the transition and a copy of what the new debit card will look like.
During the transition period of 6/13-6/30, participants will not have access to their FSA funds and will not be able to submit claims or use their debit card.
The current debit cards will be deactivated and a new chip-enabled card will be issued to all participants for use beginning 7/1/19.
The Spending Account portal on Benefits Connection will be updated.
2019 claims history will be available on 7/1/19 and prior year claims history will be available on 10/3/19.
Direct Deposit information will have to be re-registered by participants through the portal on Benefits Connection. The information cannot carry over for security reasons.