He will miss Panama's third-place match against the United States on Saturday, as well as his country's next international fixture.
Tejada drew a one match ban for the red card he received in the semi-final and an additional match for failing to leave the field in a timely manner.
Panama was fined an undisclosed amount for "team misconduct both on and off the field" during and after their match against Mexico.
The Panama players were incensed by a last-minute penalty awarded to Mexico, which led to a late equaliser, before Mexico won 2-1 in extra time thanks to another penalty.
CONCACAF said it would review requests from the Panamanian and Costa Rican federations that the entire 10-member Gold Cup referees committee resign.
Panama claimed that American referee Mark Geiger acted with "clear intention of harming our eleven" in the match against Mexico, and that it was the "last straw" of a string of bad decisions throughout the tournament.
Costa Rica, which also lost to a late penalty by Mexico in the quarter-finals, said their team had been "directly affected by the poor work of the officials".
CONCACAF, in a statement on Friday, said, "The confederation takes these claims extremely seriously and will look into them immediately.
"As a first step towards addressing the request, this matter has been added to the agenda of tomorrow's CONCACAF Executive Committee meeting for discussion."
The disciplinary committee also fined Mexican coach Miguel Herrera and U.S. player Michael Bradley for infractions of media regulations. It did not reveal the amount of the fines or the nature of the infractions.
(Reporting by Andrew Both in Cary, North Carolina, editing by Gene Cherry)
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