Flexible Spending Accounts

What's an FSA?

A Flexible Spending Account (FSA) is a benefit that employers can offer that allows employees to use pre-tax dollars to pay for out-of-pocket health insurance or dependent care expenses. We currently offer two types of FSAs: Healthcare and Dependent Care FSA.

With a FSA, you can enroll during the open enrollment period and elect how much you would like to set aside pre-tax for the year. The total amount is then broken up and deducted evenly from each paycheck for the remainder of the year.

For example, you begin work in June and enroll in an FSA on July 1st. You decide to put $1,000 in your FSA account. The $1,000 will be broken into even payments from July 1st through December 31st.

Once you are enrolled in an FSA and select the amount you would like to defer you can use those funds for different IRS approved medical expenses.

How the Plans Work

You determine the annual amount of your contributions to a plan for the plan year.  When you have eligible expenses, you pay them from your account(s) through your PlanSource Benefits MasterCard or pay out-of-pocket and submit a claim for reimbursement.  You cannot make any changes or opt-out of the FSA later in the year.

What's a Healthcare FSA?

The Healthcare FSA lets you set aside pre-tax funds via payroll deductions.  Healthcare FSA’s can cover medical, dental or vision expenses that you would otherwise pay for out-of-pocket, including co-pays and deductibles. Health insurance premiums are not eligible expenses. 

In 2023, you can contribute up to $1,500 (per TCW's plan policy) that you can set aside pre-tax.  Any unused funds left in the Healthcare FSA on December 31st of each plan year or after your termination date will be forfeited, except for balances up to $550 ($610 for 2023) that can be carried over into the next plan year, if you’re an active employee and re-enroll in the plan.  To see all eligible expenses, visit: https://fsastore.com/fsa-eligibility-list

What's a Dependent Care FSA?

This benefit is designed to help you pay for eligible expenses you incur for childcare for children under 13, or for the care of a disabled dependent, while you work or attend school.  Childcare expenses may include day care, nursery school costs, or after-school programs.  Employees may defer up to $5,000 pre-tax per year.  Funds do not rollover to the next year.

PlanSource FSA Benefits Card

If you enroll in a FSA, a benefit card will be mailed to you from PlanSource and you will use this card to make payments.  Please remember that if you make a payment and forget to use your PlanSource Benefits card, be sure to save your receipts just in case PlanSource requests a copy for verification and reimbursement purposes.

  • All receipts should be itemized to reflect what product/ service was paid for and must include the date of service.

Create and register your FSA Account

Register at PlanSource to view your account details, access account balance and transaction history, and to submit claims for reimbursement.  


1.  Visit PlanSource and click Register
2. Create your username and password
3.  Employee ID, is your social security number (no dashes)
4.  Registration ID, select Employer ID, then enter NGETARGET (case sensitive)
5.  Follow the prompts to complete your registration 

  • Download the MyBenefitsAccounts mobile app in the Apple App Store or Google Play for ultimate “on-the-go” convenience.
  • Questions about your FSA account?  Contact PlanSource Member Services: 888-266-1732 or customersupport@plansourcesupport.com

Can my Healthcare FSA cover expenses by my dependents?

Yes, your Healthcare FSA can cover expenses for qualifying dependents, even if they are not currently covered under your employer-sponsored health insurance plan. Qualifying dependents include:

  • Your spouse

  • Your qualifying child

  • Your qualifying relative

Expenses of domestic partners are generally not reimbursable.  Due to federal and state tax regulations, benefits provided to registered domestic partners and children of RDPs are generally taxable and therefore deducted from your pay on an after-tax
basis.  Additionally, any premium contributions made by TCWGlobal on behalf of your registered domestic partner are generally considered taxable income to you.

What Happens to my FSA After My Engagement Ends?

  • Medical and/or Dependent Care FSA claims may be submitted up to 60 days following your termination date, however the dates of service on all claims/ receipts must be prior to your date of termination.  If you do not elect to continue Medical Care FSA through COBRA, any unused funds remaining in your account after your date of termination and/ or after the plan year are forfeited per IRS regulations. 
  • Dependent Care FSA is not eligible to be continued on COBRA as it is not a group health plan.
  • Members who are on COBRA may be able to use FSA funds after termination. 

If I change jobs and want to enroll in an FSA with my new employer, does my contribution limit reset?

FSA funds are associated with the employer plan and not with the individual employee.  This means that you can elect the full IRS limit amount with each new employer, regardless of what you may have contributed to your FSA at your previous employer. It’s a good idea to keep in mind how many pay periods you have remaining for the rest of the year that will be used to divide the contributions per paycheck. If you only have a few paychecks remaining, you can expect to see higher deduction amounts if you elect to contribute the annual limit.

Can I use my FSA for expenses incurred before my FSA effective date?

No, the first date for which you can submit a claim is the effective date of your FSA plan. If you enrolled in an FSA that is effective February 1st, you cannot submit any claims for expenses that were incurred prior to February 1st. If you receive a bill from your provider in February, but for services provided to you in January, these expenses would not be eligible for you to use your FSA funds. Only services and expenses incurred on February 1st and moving forward will be eligible for you to use your FSA funds.

Can I have a Healthcare FSA if I have an HSA?

No, you cannot have a Healthcare FSA. However, you can have a dependent care FSA with a HSA.

Can I have an FSA without being enrolled on insurance accessed by TCWGlobal?

Yes, you do not have to be actively enrolled in a health plan through TCWGlobal to be able to open an FSA though TCWGlobal.

FSA Plan Resources and Information

TCWGlobal's FSA plans are administered by PlanSource.  All materials are available on PlanSource’s website such as an FSA Guide which includes lists of eligible items, information about how to contact PlanSource, how to file a claim online or where to mail or fax a claim, etc.  PlanSource also offers a FREE, mobile app available on your Apple or Android devices, My Benefits Accounts!