What’s changing for 2023

The FSAs and commuter programs are great ways to set aside money for your healthcare, childcare and commuter expenses while saving money on taxes.

Our FSA and commuter benefits vendor is changing from WEX to Forma. Here’s what that means for you:

• For any claims incurred after January 1, 2023, use your Forma debit card, or submit your claims to Forma for reimbursement.
• You have until March 31, 2023, to submit 2022 claims to WEX for reimbursement.
• Any unused funds in your Health Care and Limited Purpose FSAs from 2022 (up to $570) will be transferred to Forma in May 2023.
• Any unused funds in your commuter parking and transit accounts from 2022 will be transferred to Forma in February 2023.

2023 contribution limits*

• Health Care FSA and Limited Purpose FSA: The maximum amount you can contribute is $3,050. You can carry over up to $610 of your unused balance from 2022 to 2023.
• Dependent Care FSA: The maximum amount you can contribute is $5,000 (household maximum). You cannot carryover any amount from 2022 to 2023.
• Commuter transit and parking accounts: The maximum amount you can contribute is $300 per month for each ($600 total). Balances roll over month to month.

*Limits subject to change. Limits reflect current IRS maximums at the time of publication.

You can spend HSA dollars on current eligible healthcare expenses, save them for expenses you rack up later (even in retirement) or do both.

One big change for 2023 is that our HSA vendor is changing from WEX to Fidelity. What this means for you:

• Your financial accounts will now be in one place. Plus, you’ll have access to Fidelity’s expanded tools and improved educational resources, including Fidelity’s financial participant representatives.
• The maximum contribution is increasing from $3,650 to $3,850 if you have individual medical coverage and from $7,300 to $7,750 if you have family coverage. This includes Splunk’s HSA contributions, which will remain at $500 for individual coverage ($125 quarterly) and $1,000 for family coverage ($250 quarterly).

Your fertility and family-forming services are now available through Carrot, regardless of your medical plan. Progyny members will transition services to Carrot effective January 1, 2023. Carrot offers:

• Early advocate access for Progyny members who are transferring services to Carrot
• Personalized fertility care for you and your partner or spouse
• Assessments, ultrasounds, blood work and other simple tests
• Access to partner clinics and top experts
• Assistance with egg freezing, IVF and other complex care options
• Streamlined pharmacy ordering
• Assistance with surrogacy or adoption

If you are currently engaged with Progyny for family-forming benefits, you will receive more information about transition of care.

You can always count on your medical insurance coverage, and it’s getting even better in 2023. Here are some of the enhancements you can expect starting January 1, 2023.

UnitedHealthcare

• New orthoptic or vision therapy coverage
• Added resources for neonatal and bariatric services

Kaiser

• Enhanced fertility coverage at a 50% coinsurance up to a $100,000 lifetime maximum with three procedures per lifetime.

Your 401(k) is one of the best retirement-savings tools out there. Why not stash away a little more this year to make sure those golden years are as bright and shiny as possible? In 2023, the maximum amounts you can contribute to your plan are increasing:

• The annual amount you can contribute via convenient pretax or after-tax (Roth) payroll deductions is increasing from $20,500 to $22,500.
• Age 50 or older? You can save even more by making an additional catch-up contribution of up to $7,500 (increasing from $6,500).
• In addition to pretax and Roth contributions, you can set aside 0%–90% of your after-tax earnings—up to $33,600 (increasing from $31,350)—to boost retirement income and build emergency savings.