Flexible Spending Account (FSA)
*Twic is now rebranded as Forma*
What’s changed? Effective 3/7/2022:
- Twic’s new name will be Forma
- The platform will have a new look and feel to reflect the updated branding (new logo can be found below)
- The external facing website is https://client.joinforma.com/login
What does this mean to you?
- No action needed from employees. The member portal and process for submitting claims will remain the same.
- You can continue to access benefits at https://client.joinforma.com/login , as well as the Twic mobile app
- You can continue to reach out to email@example.com if you have any questions regarding your claims or reimbursements.
If you have any questions or concerns regarding Twic’s rebranding, please let us know at firstname.lastname@example.org.
The Flexible Spending Account (FSA) allows you to make pre-tax deductions from payroll and then use those pre-tax funds to pay for eligible expenses.
There are two different plans:
- The Health Care FSA Plan is used for eligible out-of-pocket healthcare costs.
- The Dependent Day Care FSA Plan is used for eligible dependent care expenses for children under the age of 13 or dependent adults. You and your spouse must both work or be a full-time student in order to participate.
The deadline to incur expenses for the 2021 Plan year has been extended to 12/31/2022 for both Healthcare and Dependent Care FSA. Unused balances in health and dependent care FSAs for the 2021 plan year will be available to use up until 12/31/2022. Participants will have 90 days from the end of the plan year to submit claims for the prior plan year.
You are able to contribute up to $2,850 into your 2022 Health Care Flexible Spending Account (HCFSA)!
You are able to contribute up to $5,000 into your 2022 Dependent Care Flexible Spending Account (DCA)!
Effective for expenses incurred on or after January 1, 2020, the following expenses are eligible through Healthcare Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA). Click here to read the official Notice.
- New! Face Masks, Hand Sanitizer, Sanitizing Wipes
- Over the counter products such as allergy medicine, cold and flu medicine, and pain relief
- Feminine hygiene products