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Flexible Spending Accounts (FSA) – Discovery Benefits

Benefit-eligible employees may choose to contribute to The Master’s University & Seminary Flexible Spending Account
(FSA), effective January 1, 2022. Please note the contribution maximums for 2022 have not yet been released, the
maximums for 2021 are listed below.
Healthcare FSA:
Allows you to redirect tax free dollars to pay for eligible medical, dental, and vision costs (up to $2,750 per person) for
the 2022 plan year.

There are thousands of eligible items, including:
• Copays and coinsurance
• Doctor visits and surgeries
• Over-the-counter medications (first aid, allergy, asthma, cold/flu, heartburn, etc.)
• Prescription drugs
• Birthing and lamaze classes
• Dental and orthodontia
• Frames, contacts, prescription sunglasses, etc.

Dependent Care FSA:
Allows you to redirect tax free dollars to pay for eligible day care care expenses (up to $5,000 per household) for the
2022 plan year. If you are married and file separate returns, you can each elect $2,500 for the calendar year. To be eligible
for this type of account, both you and your spouse (if applicable) must work, be looking for work or be full-time students.
You may receive reimbursement up to the current balance in your account at the time the request is made.

The list of covered expenses includes, but is not limited to, eligible:
• Childcare center, babysitter, nanny (birth through age 12)
• Summer day camp
• Before- or after-school care
• Disabled dependent and/or spouse care
• Elder care

Limited Purpose FSA:
Allows you to redirect tax free dollars to pay for dental and vision expenses (up to $2,750 per household) for the 2022
plan year. Only those with a Health Savings Account may elect this plan.

There are thousands of eligible items, including:
• Dental and orthodontia office visits and expenses
• Dental implants, veneers, dentures and bridges
• Optometrist and ophthalmologist visits and expenses
• Eye glasses, contacts, prescription sunglasses, solutions and drops
• Laser eye surgery

Eligible Items: Please visit https://www.wexinc.com/insights/benefits-toolkit/eligible-expenses/

The Master’s University & Seminary Page 15
2021 Employee Benefits Brochure