Spending & Savings Accounts

You can save money on eligible health care and/or dependent care expenses by paying for them with tax-advantaged accounts.

Overview

Conga offers you the following accounts and encourages you to take full advantage of their money-saving potential. You can enroll in them on the Workday as a new hire, during Open Enrollment, or if you have a qualifying life event. Note: You must enroll in these accounts each Open Enrollment if you want to contribute the next year, even if you already participate.

Tax-free money.

Money goes in tax-free* and comes out tax-free when it’s used for eligible expenses.

Helpful budgeting tool.

Contribute to your accounts easily and effortlessly.

**Contributions are not subject to federal tax. However, HSA contributions are currently subject to state tax in CA and NJ, and both HSA and FSA contributions are subject to state tax in NJ. Consult with your tax advisor to understand the potential tax consequences of enrolling in an HSA and/or FSA.

Compare the accounts

HSA vs. FSAs

Access your account

What’s eligible?

Health Savings Account

With the Cigna HDHP, you’re eligible to open and contribute money to a Health Savings Account (HSA) through PayFlex. The HSA is a tax-free savings account that you own. You can use it to pay for eligible health expenses anytime, even in retirement.

The HSA has a triple-tax advantage that surpasses even a 401(k) or Roth IRA. And, Conga will contribute to your account, too!

Put money in tax-free.*

You contribute to your HSA through pre-tax payroll deductions. If you need to, you can change your contribution amount anytime. You must have an HSA account with PayFlex to contribute money pre-tax.

Get company contributions.

Conga will contribute $500 annually if you have employee-only medical plan coverage, or $1,000 annually if you cover dependents.

You must have an HSA account with PayFlex to receive the Company contribution.

Pay for care tax-free.**

Pay for eligible medical, dental, and vision expenses for you and your family using your HSA debit card (provided sufficient funds are in your account). Track your spending, check your balance, reimburse yourself, and more on the PayFlex website.

Grow money for the future tax-free.

All the money in your HSA is yours to keep, year after year. You can build up savings through tax-free interest and even invest your money once your balance reaches $1,000 minimum balance, which gives you the potential for tax-free earnings growth and a way to plan ahead.

*Contributions are not subject to federal tax. However, HSA contributions are currently subject to state tax in CA and NJ, and both HSA and FSA contributions are subject to state tax in NJ. Consult with your tax advisor to understand the potential tax consequences of enrolling in an HSA and/or FSA.

**Money in an HSA can be withdrawn tax-free as long as it is used to pay for qualified health-related expenses. If money is used for ineligible expenses, you will pay ordinary income tax on the amount withdrawn, plus a 20% penalty tax if you withdraw the money before age 65.

2024 Contribution Limits

Keep in mind, the maximum amount you and Conga together can contribute to your HSA is determined by annual limits that the IRS sets. In 2024, the total contribution limits are:

$4,150 if you have employee-only medical plan coverage, or
$8,300 if you cover dependents.

If you’re age 55 or older, you can contribute an additional $1,000 to these limits.

Coverage Level	2024 Contribution Limit	Conga contributes…	…so you can contribute up to
Individual coverage	$4,150	$500	$3,650
Family coverage	$8,300	$1,000	$7,300
* If you’re age 55 or older, you can contribute an additional $1,000 on top of this amount.

Getting Started

Once your account is set up, you’ll receive a welcome email that will include useful information about your account. You’ll also receive an HSA debit card in the mail, which will allow you to conveniently pay for eligible expenses at the point of service.

As you start using your account, keep in mind that you can only spend money that has actually been deposited into your account — your entire annual contribution amount is not available to you from the beginning of the plan year. Your HSA balance will grow as deposits are made from each paycheck.

Flexible Spending Accounts

Using an FSA is like getting a discount on everyday health and/or dependent care expenses because you’re paying with tax-free money. There are separate FSAs for health care and dependent care. Our FSAs are administered by PayFlex.

With FSA money, you “use it or lose it.” If you have a balance left in your FSA as year-end approaches, try to spend as much of it as you can on eligible expenses; up to $640 of unused money may be carried over to the next year; amounts above $640 will be forfeited, so be sure to use it up! Request reimbursement or manage your account on the PayFlex.

Health Care FSA

A Health Care FSA is available to employees who enroll in the Cigna OAP 750, Kaiser HMO (CA), or Kaiser HMO (CO) or do not elect medical coverage. You can contribute up to $3,050 for the year through pre-tax payroll deductions to help cover eligible medical, dental, and vision expenses.

Choose

Choose your contribution amount when you enroll. You can only change it during the year if your personal situation changes, so estimate carefully.

Contribute

Your annual contribution will be divided into equal payroll deductions, but the entire amount is available to you from the beginning of the plan year.

Spend

Spend your money by using your FSA debit card, or log in to PayFlex to request reimbursement for payments you’ve made.

Use It Up

Up to $640 of unused money may be carried over to the next year; amounts above $640 will be forfeited, so be sure to use it up!

Limited Purpose FSA

A Limited Purpose FSA is available only to employees with an HSA to offer additional tax-saving opportunities. You can contribute up to $1,000 for the year through pre-tax payroll deductions. This account can be used for eligible dental, and vision expenses only.

Choose

Choose your contribution amount when you enroll. You can only change it during the year if your personal situation changes, so estimate carefully.

Contribute

Your annual contribution will be divided into equal payroll deductions, but the entire amount is available to you from the beginning of the plan year.

Spend

Spend your money by using your FSA debit card, or log in to PayFlex request reimbursement for payments you’ve made.

Use It Up

Up to $640 of unused money may be carried over to the next year; amounts above $640 will be forfeited, so be sure to use it up!

Dependent Care FSA

A Dependent Care FSA is available to all employees. You can contribute up to $5,000 if you’re married and filing jointly or up to $2,500 if you’re single or married and filing separately.

Contributions are made through pre-tax payroll deductions to help cover your eligible dependent care expenses, including childcare for children up to age 13 and care for dependent elders.

Choose

Choose your contribution amount when you enroll. You can only change it during the year if your personal situation changes, so estimate carefully.

Contribute

Your annual contribution will be divided into equal deductions from each paycheck. You can only use money that has been deposited into your account.

Spend

Spend your money by using your FSA debit card, or log in to the PayFlex website to request reimbursement for payments you’ve made.

Use It Up

Unused money does not carry over at the end of each year — use it or lose it! Be sure to use it up.

Compare the Accounts

	HSA	Health Care FSA	Limited Purpose FSA	Dependent Care FSA
Available with …	Cigna HDHP	Cigna OAP 750 Kaiser HMO (CA) Kaiser HMO (CO) (Also available if you waive medical coverage)	Cigna HDHP	Your employment at Conga
Receive company contribution	Yes	No	No	No
Change your contribution amount anytime	Yes	No	No	No
Access your entire annual contribution amount as needed	No	Yes	Yes	No
Access only funds that have been deposited	Yes	No	No	Yes
Use account money for…	All eligible medical, dental, and vision care expenses for you and your qualified dependents	All eligible medical, dental, and vision care expenses for you and your qualified dependents	Only dental and vision expenses	Eligible dependent care expenses, including care for children up to age 13, dependents who aren’t able to care for themselves, and dependent elders
“Use it or lose it” at year-end	No	You can carryover up to $640; amounts over $640 are forfeited	You can carryover up to $640; amounts over $640 are forfeited	Yes
Money is always yours to keep	Yes	No	No	No

Commuter Benefits

To ease the cost of your commute to work, the Conga commuter benefits program lets you set aside pre-tax dollars from your paycheck to help pay for monthly parking or transit costs. It’s easy and flexible. You can enroll, change, or cancel commuter benefits at any time. However, there is a monthly deadline of the 10th for making updates for the next month. If you miss it, you will have to wait until the following month.

Enroll

Enroll through Workday, then manage your account through PayFlex

Contribute

Decide the amount you want to contribute, and the money is deducted from your paycheck, before taxes are taken out.

How much

You can elect to contribute up to the monthly IRS limit of $300 for transit and $300 for parking.

Deadline

Make changes by the 10^th of each month for the new deduction to be effective the following month.

Spending & Saving Accounts