Page 7 - 2022 Iodine Software Benefit Guide

Savings accounts

Iodine Software offers several accounts that enable you to pay for eligible expenses tax-free. The IRS provides a list of
eligible expenses for each account at www.irs.gov.

Health Savings Health Care Flexible Dependent Care Flexible
Account (HSA) Spending Account (FSA) Spending Account (FSA)

Available to those enrolled in the HDHP You can use this account for medical, Use for eligible childcare expenses for
as long as you are not enrolled in any pharmacy, dental and vision expenses. dependents under age 13 or elder care.
other health coverage or Medicare,
or claimed as a dependent on someone
else’s tax return.

Comparison of accounts

HSA FSA

Does the company contribute? Employee: $50/pay period,
Amount for full-year 2022 up to $1,200/year X
Employee +1 or Family: $50/pay period,
up to $1,200/year

Can I contribute my own savings?  


Is there an IRS maximum annual Employee: $3,650 
contribution? Family: $7,300 Health Care FSA: $2,850
Those 55 and older can contribute an Dependent Care FSA: $5,000
additional $1,000 annually.


Connect with virtual care way. Will my savings roll over each year? Unlimited Up to $500 for Health Care FSA;
● Contact your in-network provider No roll over for Dependent Care FSA
● Talk to an MDLIVE medical provider on demand Will I earn interest on my savings?  X
on mdliveforcigna.com
● Schedule an appointment with an MDLIVE provider Are the savings tax-free?  
on mdliveforcigna.com In most states
● Call MDLIVE 24/7 at 888-726-3171 Do I keep the money if I leave
the company?  X
Can I also have a Flexible Spending  
Account (FSA)? Dependent Care FSA only

Wex benefits mobile app & participant portal
Access your benefits 24/7 with the WEX mobile app. The app is free, convenient and offers real-time access to all
your benefits accounts. With the benefits mobile app you can:
● Get instant updates on the status of your claims.
● File a claim and upload documentation in seconds using your phone’s camera.
● Scan an item’s bar code to determine if it’s an IRS Code Section 213(d) eligible expense.
● Report a card as lost or stolen, which cancels the card and ships you a new one.
● Log in through face recognition or fingerprint (depending on your phone).
● Check your balance and view account activity.
● Reset login credentials.

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