Penn’s transition to Workday@Penn, the University’s new human resources and payroll system, is fast approaching. As part of the launch, the way you manage your Flexible Spending Accounts (FSA) and your Health Savings Account (HSA) will change.

Through June 30, you will continue to manage your FSA using the current ADP enrollment platform, but effective July 1, Penn’s Health Care and Dependent Care FSA accounts administration will be handled on the new, enhanced WageWorks platform.

The platform upgrade will make it easier for you to submit receipts, verify expenses and manage your accounts. It will also provide a better mobile experience with access to FSA apps and improved tools.

Even though Penn is updating the FSA platform, the rules for using these accounts will remain the same. You may still need to provide receipts to verify that your claims are qualified expenses according to IRS guidelines.

Also, effective July 1, Penn’s Health Savings Account administration will move from Aetna/Payflex to WageWorks.

Here are additional details about the changes for each type of account and what you can expect before and after the transition to Workday@Penn.

Health Care and Dependent Care Flexible Spending Accounts

If you are enrolled in a Health Care FSA and your silver ADP-branded card expired in March, you may have received a silver WageWorks branded card to use in its place. Activate the card when it arrives. You can use the new WageWorks-branded card for qualified health care expenses through June 30, 2019.

You are encouraged to spend down your FSA balances and submit any outstanding claims before June 30. If you do submit claims after June 30 for services performed during the 2018-2019 plan year, you will need to submit those claims on the new WageWorks platform. All claim submissions for the 2018-2019 plan year are due by September 30, 2019.

To help facilitate the upgrade to the WageWorks platform, a blackout period will take place from July 1, 2019 through July 12, 2019 so that any remaining balances left in your FSA accounts can be moved to the proper locations.

Additionally, as a part of the upgrade, Health Care FSA participants will receive a new orange and blue debit card co-branded with the WageWorks and Penn logos to replace the current card. You can only use the new card for health care expenses incurred after July 1, 2019. After June 30, your current card will be deactivated.

Please remember that you can only rollover $500 to the next plan year, so make sure you submit your claims for the current plan year in a timely fashion.

Dependent Care plans do not offer a card option and any unclaimed funds will be moved to the new platform. You have until September 15, 2019 to incur plan expenses and may submit claims up until September 30, 2019. After July 1, 2019 claims for the Dependent Care account will need to be submitted using the new platform.

Health Savings Accounts for High Deductible Health Plans

If you are enrolled in a High Deductible Health Plan with an HSA, Wage Works will be the administrator of this plan and BNY Mellon will be the custodial bank. A new account will be opened for you at BNY Mellon. In order to establish this new account, HDHP plan participants must agree to the BNY Mellon Terms and Conditions, and can do so during the Open Enrollment period from April 22-May 3 by going on line and completing their enrollment process. Even if you do not wish to make a change to your coverage you must review the terms and conditions.

If you have funds in your HSA at the end of the 2018-2019 plan year, WageWorks will transfer the money to BNY Mellon by early August, adding these funds to your new HSA. If you don’t want the funds to be moved, you will receive instructions to opt out of the transfer and you will be responsible for managing any ongoing monthly service fees.

HDHP plan participants will also receive a new orange and blue debit card to use in the 2019-2020 plan year. Your current card, which is branded with the PayFlex logo, will be deactivated after June 30, 2019.

For more information about Penn’s FSA and HSA, visit www.hr.upenn.edu/fsa and www.hr.upenn.edu/hdhp-hsa

—Division of Human Resources