It may seem like you’ve only just made your 2024 benefit choices, but the calendar shows we’re already nearing the end of the year. You probably don’t want to find out in December that you haven’t handled your options properly or taken advantage of the free resources available to you. A mid-year review might be in order.
Flexible spending accounts
If you have a flexible spending account, you know it’s designed to save you money by letting you deduct tax-free amounts from your paycheck to cover certain health and dependent care expenses. But that’s not possible if your paperwork isn’t in order. Conduct a midyear review of your 2024 FSA by following these steps:
- Log in to your WEX account or mobile app to see if you have any outstanding claims that require documentation before they can be paid. You will need a detailed invoice from your provider or an Explanation of Benefits (EOB) from your insurance carrier. Documentation must include the patient’s name, the name of the provider or vendor, the date and description of the service received or item purchased, and the dollar amount paid (after insurance, if applicable).
- Check out this comprehensive list of eligible expenses to refresh your knowledge of eligible costs.
- This blog post from WEX will give you tips on how to strategically use your remaining funds in the remaining months.
If you have any questions about FSA verification or your online account, please call WEX at 866-451-3399.
If you need help finding an EOB, Quantum Health can help. CareFirst plan members can get personalized assistance by calling 844-460-2801 Monday through Friday from 8:30 a.m. to 10:00 p.m. or visit the Quantum Health member portal for more information.
Retirement accounts
Your retirement account at TIAA helps you build your future financial security through a combination of your contributions and those of the university. These begin after you complete two years of service or when you turn 35, whichever comes first. In 2023, JHU contributed more than $178 million to employee 403(b) accounts. Here are a few more things you may not know:
Savings on wellness programs
Your physical well-being is the foundation of your overall quality of life, and Johns Hopkins offers access to two wellness platforms whose programs can help you achieve your health and wellness goals.
Burnalong is a free virtual wellness platform that offers thousands of online classes for all ages, interests, and levels, plus social motivation for health and wellness goals. And you can add four friends or family members to your account. Click here to set up your JHU Burnalong account.
WeightWatchers can help you reach your wellness and weight loss goals, and as a JHU employee, you’ll receive a discounted membership. The personalized program and award-winning app will help you eat healthier, exercise more, develop a more positive mindset, and lose weight. Choose the plan that fits your lifestyle – Core or Premium – and save 50% off the cost. Click here to access your account. Note that this is a taxable benefit.
Do you need more information?
If you have questions about flexible spending, retirement or welfare programs, contact the Benefits Service Center at 410-516-2000 or [email protected].
