Health Care FSA

Synopsys offers two types of Health Care Flexible Spending Accounts (HC FSA) to help you budget for certain health care expenses while reducing the amount of taxes you pay.

  • Traditional Health Care FSA – Medical, dental, and vision expenses. Available if you are enrolled in the Synopsys HRA or Kaiser medical plans.
  • Limited Purpose FSA – Dental and vision expenses only. Available if you are enrolled in the Synopsys HS medical plan.
How the Health Care FSA Works

You may contribute $100 to $2,700 of your pretax salary to the Health Care FSA and use this tax-free money to pay for eligible health care expenses. The Synopsys FSA plan is administered by WageWorks.

  • FSAs reduce your taxable income by allowing you to set aside pretax income to be used on qualified expenses.
  • You must enroll every plan year in order to participate.
  • Domestic partners are not eligible for this plan.
  • Remember to budget the amounts you set aside carefully—if you don't use it, you lose it!
Eligible Health Care Expenses

Eligible expenses are those you incur for yourself or anyone you claim on your tax return as a dependent. Your dependents do not have to be covered under the Synopsys health care plans to be eligible. An expense must be tax-deductible to be eligible for reimbursement under the health care spending account. Eligible expenses are medically necessary expenses not covered by your medical, dental, or vision plans, including:

  • Deductibles and copayments
  • Your share of covered expenses
  • Dental and orthodontia expenses
  • Prescription glasses, contact lenses, and lens-cleaning solution
  • Laser vision correction
  • Alcoholism or drug addiction programs
  • Prescription drugs and drug copayments
  • Over-the-counter medications prescribed by your doctor

Eligible expenses do not include cosmetic procedures, treatments not supervised by a qualified health care professional, premiums for employer-provided health care plans, or other expenses that are not medically necessary. Review the list of eligible expenses.

Accessing Your FSA
  1. Go to the Synopsys Enrollment and Resource Center:
  1. Refer to "WageWorks" in your homepage sidebar.
Submitting Claims

There are two ways to submit claims for reimbursement:

Online
Fax or Mail
FSA Debit Card

If you participate in the HC FSA plan, you will receive a debit card from WageWorks that you can use to pay for most eligible health care expenses. The amount of your expense is automatically deducted from your FSA, but always save your receipts. In many cases, you will have to submit receipts for validation.

Note: The debit card is available only for the Health Care Spending Account. A debit card is not available for the Dependent Care Spending Account.

Use It OR Lose It

This applies if you do not use all of the money in your account by the end of the two-month grace period following the plan year. The rule also applies if your employment terminates prior to the end of the plan year and you do not have eligible expenses incurred prior to your termination date to claim for reimbursement. When your employment terminates, you have the option to elect continuation of Health Care FSA through COBRA to the end of the plan year to allow you additional time to incur eligible expenses and receive reimbursement.

Legal Notices

For detailed summaries and legal disclosures, visit the Legal Notices page.

Forms & Helpful Documents