New Benefits Allocation Process for myFlex Plans

Your myHSA program may offer employees the opportunity to allocate funds between their non-taxable HSA and taxable WSA. Read on for an overview of recent changes to this process. 

January is a popular time for employees to be offered the opportunity to allocate funds between their taxable and non-taxable spending accounts.

Previously, employees had to allocate funds upon first logging into their myHSA accounts when the benefits selection window opened.

Employees now have an opportunity to "allocate later." This gives them the flexibility to submit claims during their allocation window prior to making a decision.

It's important to remind plan members that unallocated funds will still default if they don't consciously allocate funds during their benefits selection window.