Spending, Savings & Reimbursement Accounts

Your Account Options

Tulane University offers three different spending accounts under the administration of HealthEquity. These accounts are designed to give you a tax-free way to pay for eligible health care and dependent care expenses that you would normally pay for on an after-tax basis. See below the accounts Tulane offers:

  • A Healthcare Flexible Spending Account (HCFSA) reimburses you for eligible, out-of-pocket medical, dental, and vision expenses for you and your qualified dependents up to the amount of your annual contribution. Expenses are not claimed on your income tax return.  Please note that this account cannot be elected if enrolled in the High Deductible Health Plan. You must re-enroll in this plan each plan year.
     
  • A Dependent Care Flexible Spending Account (DCFSA) reimburses you for qualified child care and elder day care or custodial elder care expenses incurred so that you (and if married, your spouse) can work. Expenses are not claimed on your income tax return and cannot be used for medical expenses. The DCFSA can be paired with any medical plan or no medical plan at all, as this type of account has no relationship to medical plans. You must re-enroll in this plan each plan year.
     
  • A Health Savings Account (HSA) is an actual bank account that allows you to save and pay for medical, dental, and vision expenses on a tax-free basis. Employees can only contribute to this plan only if they are enrolled in the High Deductible Health Plan (HDHP). You can earn incentive dollars by participating in the TU Wellness Annual Health Incentive.  Earned incentive dollars are deposited into your HSA.
     
  • A Health Reimbursement Account (HRA) reimburses you with incentive dollars earned from participating in the TU Wellness Annual Health Incentive for eligible medical expenses This account is only paired with the HRA medical plan.  While all Tulane medical plan participants can participate in the annual wellness incentive, HRA plan members earnings will be made available via their Health Reimbursement Account (HRA) provided by HealthEquity. 
     
How Flexible Spending Accounts (FSAs) Work
  • HRA and POS medical plan members are eligible to participate in FSAs.  Please note that the Healthcare FSA cannot be elected if enrolled in the High Deductible Health Plan.
  • You estimate your healthcare and/or dependent care expenses for the coming year and enroll in either or both accounts.
  • Your contributions are made through payroll deduction before federal, FICA (and in most cases state) taxes are withheld. This reduces your taxable income.
  • Throughout the year, when you pay an eligible healthcare expense (medical, dental, or vision) or dependent care expense (daycare, elder care or custodial elder care), you submit a claim for reimbursement from your account.
  • You also have the option of using the flexible spending account debit card for the Healthcare Flexible Spending Account (HCFSA) only.
  • You are reimbursed with the money you set aside in your account.
  • Once you are ineligible or terminated your card will be turned off and you will have to file for reimbursement manually.

Summary of FSA Programs

HEALTHCARE FSA DEPENDENT FSA
$3050 Maximum $5000 Maximum
Eligible Healthcare expenses for employee and dependents

Eligible Dependent Day Care expenses for qualified dependent(s)

Eligible Dependent Elder Day Care or Custodial Elder Care expenses for qualified dependent(s)

FSA Debit Card Pay provider directly or Auto pay
Total funds available immediately Funds available as contributions are made via payroll deductions
Grace period until March 15 of following year No grace period

 

How Health Savings Accounts (HSAs) Work
  • Enroll in the High Deductible Health Plan (HDHP) and estimate your healthcare expenses for the year.
  • Your contributions are made through payroll deductions and deposited into a triple-taxed advantaged bank account.
  • You can access your funds through a debit card when the contributions are deposited each payroll or submit for reimbursements.
  • Unused balances rollover from year to year and if you leave the university the account is yours to keep.
  • HSA participants can also participate in the TU Wellness Annual Health Incentive, from which any incentives earned will be added to their HSA each year. 

Learn more about Health Savings Accounts (HSA): 

Watch this video about HSAs

HSA Contributions
How Much Can You Contribute? 2023 IRS Contribution Limit Your Maximum Contribution Amount Tulane's Contribution
Employee Only Coverage $3,850* $3,350 $500**
Family Coverage $7,750* $6,750 $1,000**

*    If an individual reaches age 55 by the end of the calendar year, he/she can contribute an additional $1,000

**  Tulane's contribution is pending upon completion of the wellness incentive activities. More information about the wellness incentive can be found here.

How Health Reimbursement Accounts (HRAs) Work
  • If you participate on the Health Reimbursement Plan, you are “reimbursed” for participating in annual health incentive program and supporting activities, including completing a wellness exam as well as a health risk assessment survey.
  • A full-time employee scheduled to work with the university for no less than 7 months
  • A part-time employee working at least 50% of a full-time schedule and expected to work no less than 7 months
How To Access Your HealthEquity Account

To log into your account at HealthEquity, click below and follow the dual authentication process.

Access Your HealthEquity Account

 

The Health Equity microsite is your centralized place for accessing the following accounts:

  • Healthcare Flexible Spending Account
  • Dependent Care Flexible Spending Account
  • Health Reimbursement Account
  • Health Savings Account

Here you can manage your account and access your account details, including balances available to spend, pay a provider, view claims, and manage cards. If you request a new card in your account and would like an additional card for your dependent spouse, click the box to make them a "dependent". Once you do that, you can request the card online. There will be a charge for new cards after 3 card requests. 

How to Enroll

To be eligible to enroll in one of our health account options, employees must meet the following crtiteria:

  • Employee is scheduled in HCM to work 18.75 hours or more per week
  • Full-time employees must be scheduled to work with the university for no less than 7 months
  • Part-time employee must be working at least 50% of a full-time schedule and expected to work no less than 7 months

To enroll, visit Employee Self-Service within 30 days of your new hire/newly eligible date:

  • Go to Employee Self-Service and login with your TU username and password
  • Make your benefits selections
  • Print your confirmation statement and keep for your records
  • For more detailed instructions, CLICK HERE.

Access Your HealthEquity Account

 

Have questions about your plan?

Contact the TU Benefits Team

Email: TUBenefits@tulane.edu

Phone: 504-865-HR4U(4748)

Monday-Friday: 8:30am - 5:00pm CST