Savings and Spending Accounts Overview

AXA XL offers you a range of savings and spending accounts that allow you to use pre-tax dollars to pay for eligible healthcare expenses, including:

  • Health Savings Account
  • Health Care Flexible Spending Account
  • Limited Purpose Flexible Spending Account
  • Dependent Day Care Flexible Spending Account

Compare our savings and spending accounts to find out what’s best for you and your family.

There’s an App for That!

With the PayFlex Mobile® app, you can:

  • Manage your Flexible Spending Accounts and view alerts
  • Snap a photo of your receipts to submit claims
  • View PayFlex debit card transactions
  • View common eligible expense items, and more

Spending made simple

Ready to use your FSA dollars? PayFlex has partnered with CVS® Pharmacy to help make it easier for you to purchase FSA-eligible items. After all, your FSA dollars are yours to use and yours to lose. To access the CVS web page, sign in to your PayFlex account online or through the app.
How the Accounts Work

Health Savings Account

EligibilityColleagues enrolled in the OAP HSA 1 or OAP HSA 2
Employer contribution* (Single/family)$500/$1,000
IRS maximum contribution* (Single/family)$3,550/$7,100, less company contributions (see below)

Additional $1,000 catch-up contribution for colleagues age 55+

​Your maximum contribution (Single/family)
​$3,050/$6,100
Eligible expensesQualified medical, dental and vision expenses
Earns interest tax-freeYes
Convenient debit cardYes
Ability to take account with you if you leaveYes
Ability to carry over fundsUnused funds carry over year to year
Access to contributionsAs funds are deposited
Deadline to use fundsN/A — funds roll over year to year

*Prorated for the number of full months you're enrolled in the plan. 

Health Care Flexible Spending Account

EligibilityAll colleagues, except for those enrolled in the HSA plans or non-high deductible medical plans outside of AXA XL
Employer contributionN/A
Maximum contribution$2,700
Eligible expensesQualified medical, dental and vision expenses
Earns interest tax-freeN/A
Convenient debit cardYes
Ability to take account with you if you leaveNo (only after-tax contributions continue through COBRA)
Ability to carry over fundsYou can carry over up to $500 in unused funds to the next year, as long as you stay an active employee
Access to contributionsFull amount on January 1
Deadline to use fundsDecember 31 of the plan year. You must submit all claims for reimbursement by March 31 of the following plan year.


Limited Purpose Flexible Spending Account

EligibilityColleagues enrolled in the OAP HSA 1, OAP HSA 2, or a high deductible health plan outside of AXA XL
Employer contributionN/A
Maximum contribution$2,700
Eligible expensesQualified dental and vision care expenses only
Earns interest tax-freeN/A
Convenient debit cardYes
Ability to take account with you if you leaveNo
Ability to carry over fundsYou can carry over up to $500 in unused funds to the next year, as long as you stay an active employee
Access to contributionsFull amount on January 1
Deadline to use fundsDecember 31 of the plan year. You must submit all claims for reimbursement by March 31 of the following plan year.


Dependent Day Care Flexible Spending Account

EligibilityAll colleagues
Employer contributionN/A
Maximum contribution$5,000 (or $2,500 if you are married and filing separately)
Eligible expensesQualified dependent elder and day care expenses
Earns interest tax-freeN/A
Convenient debit cardNo
Ability to take account with you if you leaveNo
Ability to carry over fundsNo
Access to contributionsAs funds are deposited
Deadline to use fundsDecember 31 of the plan year. You must submit all claims for reimbursement by March 31 of the following plan year.
Health Savings Account

A Closer Look at the Health Savings Account

The Health Savings Account (HSA) is a tax-advantaged savings account. through HSA Bank, offered only to participants in the OAP HSA 1 and OAP HSA 2 plans. You can use your HSA to offset out-of-pocket healthcare costs incurred this year, or save it for future medical, dental, and vision expenses. Unlike an FSA, you do not have to file a claim for reimbursement. However, you should keep all receipts for tax purposes.

Watch the following videos to learn more about the Health Savings Account:

And use the Cigna Health Savings Account Savings Calculator to see your potential savings and account growth.

Here’s How the HSA Works

Build ItEnroll in the OAP HSA 1 or OAP HSA 2 and make pre-tax contributions to your account. The Company will also make contributions to your account. See AXA XL's contributions on the Medical page.
Use ItUse the HSA funds to pay for covered healthcare expenses for yourself and your dependents.
Grow ItUnused money in your account will roll over to the next year. Your account balance will earn interest tax-free. Once you reach a $2,000 balance in your HSA, you can choose from the account’s options for investing your balance via HSA Bank.
Keep ItYou own the money in your HSA. You can even take the account with you if you leave the Company or retire.

HSA Eligibility

To enroll in the HSA, you must be enrolled in the OAP HSA 1 or OAP HSA 2. In addition:

  • You can’t have other health coverage that pays for out-of-pocket healthcare expenses before you meet your plan deductible (another high deductible plan is allowed).
  • You or your spouse can’t have a general purpose Health Care Flexible Spending Account (FSA) or Health Reimbursement Account (HRA) in the same year you have an HSA. If you wish to contribute to an FSA, you may be eligible for a Limited Purpose FSA.
  • If you are enrolled in Medicare, you are not eligible to contribute to the HSA.
  • You can’t be enrolled in TRICARE, or have received Veterans Administration (VA) health benefits in the previous three months.
  • You can’t be claimed as a dependent by someone else.

HSA Contribution Limits

You may contribute up to the IRS maximum to your HSA as follows: $3,550 for single coverage; $7,100 for family coverage; and an additional $1,000 catch-up contribution for colleagues who are age 55 or older.

Note: Your maximum contribution includes AXA XL's contribution to your HSA.
Health Care FSA

If you enroll in the OAP plan or in a non-high deductible health plan outside of AXA XL, you can participate in the Health Care FSA. The Health Care FSA can be used to reimburse eligible expenses that are not covered under your medical, dental, or vision coverage.

For 2020, you can set aside up to $2,700 and expenses are reimbursed as you receive the services.

Eligible expenses are set by the IRS and include:

  • Deductibles (for medical, dental and vision)
  • Copayments,
  • Coinsurance and more.

For a full list of eligible expenses, see Cigna’s Eligible and Ineligible Expenses List under Resources.

You can receive reimbursement for eligible medical, dental and vision expenses that you incur during the current plan year. You can use your Health Care FSA funds for eligible expenses incurred by you and your tax-qualified dependents. You cannot receive reimbursement for an eligible expense more than once.

Limited Purpose FSA

If you are enrolled in the OAP HSA 1, the OAP HSA 2 or a high deductible health plan outside of AXA XL, you are eligible to contribute to a Limited Purpose FSA. A Limited Purpose FSA (LPFSA) is a flexible spending account that you can use to pay for eligible out-of-pocket dental and vision expenses. Such expenses include:

  • Dental and orthodontia care; like fillings, X-rays and braces
  • Vision care, including eyeglasses, contact lenses and LASIK surgery

To see what else is covered by the Limited Purpose FSA, see Cigna’s Eligible and Ineligible Expenses List under Documents.

For 2020, you can contribute up to $2,700 to your Limited Purpose FSA. You can only receive reimbursement for eligible dental and vision expenses that you incur during the current plan year. You can use your Limited Purpose FSA funds for eligible expenses incurred by you and your tax qualified dependents. You cannot receive reimbursement for an eligible expense more than once.

Save More Now For Later

Your Limited Purpose FSA (LPFSA) may be used for dental and vision expenses. To make the most of your HSA, you might consider using the LPFSA to cover dental and vision care, and reserving your HSA balance for other or future healthcare expenses.

Dependent Day Care FSA

The Dependent Day Care FSA can be used to reimburse you for eligible dependent day care expenses. You can only use this account for eligible dependent care expenses, such as day care for your children if you and your spouse both work, if applicable. For healthcare expenses for your dependents, please use your Health Care or Limited Purpose FSA.

Covered dependent day care includes services from the following providers:

  • Day care centers for dependent children or adults
  • Nursery schools
  • After-school centers
  • Babysitters
  • Summer day camps (not overnight camp)

To be eligible for reimbursement, eligible care services can be provided inside or outside your home, but not by one of your dependents, such as an older child. If your child goes to a day care facility that cares for six or more children at the same time, it must be a licensed day care center. Expenses are only eligible for children up to age 13, or older children and dependents deemed incapable of self-care.

How to Submit Claims

Filing your claims is easy! If you participate in a Health Care FSA or Limited Purpose FSA, you may use your PayFlex debit card where accepted.

If you do not use your debit card at the point of care, in order to receive a reimbursement for your Health Care FSA and Limited Purpose FSA, you will need to submit your claims online or through the mail. If you participate in a Dependent Day Care FSA you can submit for reimbursement by using a claim form.

Follow the instructions below to learn more.

PayFlex Card™ Claim Filing

When you participate in the Health Care FSA and Limited Purpose FSA, you will receive a PayFlex debit card to pay for your eligible expenses. To submit your claims via a claim form, you will need to log in to PayFlex.com and select “File a Claim.”

If you are required to substantiate your card transactions, you will need to provide documentation such as an Explanation of Benefits (EOB) or an itemized statement to verify that your purchases were eligible expenses and were processed through your insurance first. To do so, you must log in to PayFlex.com to see whether your card has any outstanding transactions requiring documentation. If you have an outstanding transaction, select the transaction for which you need to provide an EOB or itemized receipt. Then, select Fax My Receipts or Upload My Receipts. In order to upload, you must submit the document in PDF Format.

Once PayFlex has reviewed and accepted your documentation, your transaction(s) will be removed from the alerts on My Dashboard. Please allow at least 48 hours for this to occur.

Online Claim Filing

You can file your claim online. Log in to your member web portal and under “Quick Links” select “File a Claim.” Follow the four quick steps on the site to file your claim.

Paper Claim Filing

If you prefer to file your claim by mail, follow these steps. Claim forms are available on your member web portal.

  1. Click on “My Resources” and then click on “Administrative Form — Reimbursement Account Forms.”
  2. Fill out and print the correct claim form for your account and expense type.
  3. Complete all sections.
  4. Sign and date the claim form. Note: If you send in an incomplete or unsigned form that will delay your payment.
  5. Include the supporting documentation noted in the form for all expenses on the claim form.
  6. Mail or fax entire submission to the address or fax number listed on the claim form.

Keep a copy of your entire claim submission. PayFlex will not return any of this paperwork to you. You may need to refer to this information.

How to Use Your PayFlex Debit Card

Your Flexible Spending Account (FSA) includes the PayFlex Card®. You can use it to pay for your eligible expenses at qualified merchants where MasterCard® is accepted. This includes doctor offices, hospitals, pharmacies (including mail-order prescriptions), hearing and vision care centers, and discount and grocery stores.

Note: You do not need to pay at the time of your visit unless you’re only paying for a copay. Wait until your insurance provider pays their portion and sends you an itemized statement or Explanation of Benefits (EOB) showing the amount you owe, then use your card for the payment. Remember to save your receipts because PayFlex might ask you to verify your card purchase was for an eligible expense. Remember, you can check your account balance and card payments at the Financial Center on the PayFlex member website or PayFlex Mobile® app. Note: Standard text messaging and other rates from your wireless carrier may apply.

© XL Catlin. Disclaimer.
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