Health Care FSA
A Health Care FSA allows for reimbursement of out-of-pocket expenses that you incur on behalf of yourself and/or your dependents. Your elected contributions are deducted from your paycheck on a "pre-tax" basis and, therefore, are subject to IRS regulations. The following summarizes important facts about this benefit.
General Purpose FSA
Pre-tax dollars contributed to a health care FSA can be used by you or any of your qualified dependents for such expenses as medical and prescription medication deductibles and copays, eyeglasses, contact lenses, dental expenses, and most other health care expenses that are not covered by you or your spouse's other health care plans. Some medications may also be reimbursable when prescribed by a doctor for a "medically necessary" reason.
General Purpose Eligible Expenses
Any expense allowed as a medical deduction on your income tax return is eligible for reimbursement under the FSA, as long as you do not also deduct those expenses on your income tax return. See health care expenses.
Limited Purpose FSA
Funds in a limited-purpose health FSA can only be used to pay for qualifying dental, vision and orthodontia expenses. This account is set up to used alongside a Health Savings Account (HSA).
Limited Purpose Eligible Expenses
Covers qualified out-of-pocket expenses for dental and/or vision care provided to you, your spouse, or dependents including dental and vision deductibles and copays, dental work, dentures, vision exams, vision correction procedures, contact lenses and solutions, and eyeglasses. Please see General Purpose vs Limited Purpose for more detail.
Federal tax rules define dependents as your spouse. Children through the end of the calendar year that they turn 26 if the child is the employee's Tax Code dependent for health plan purposes. Your parents if: they reside with you, you are responsible for their expenses and you claim them as dependents on your income tax return.
Minimum $100 per plan year to a maximum of $3,050/annually. If both you and your spouse have access to a health care FSA, you are each eligible to deposit up to $3,050/annually in your separate FSA accounts.
Carryover & Forfeiture
If you have funds left in your health care FSA at the end of the plan year, they might carryover to the next plan year. View details on carryover rules using button below.
For terminated or retired employees, claims must be received by our FSA administrator within 90 calendar days following separation of employment. Unless COBRA is elected, claims must be incurred prior to the separation date.
Fund balances are non-transferrable between the health care FSA and dependent day care FSA accounts.
Reimbursement requests can be submitted online or with the mobile app. You can set up direct deposit to have funds sent to your personal bank account, otherwise a check will be mailed to you.
Benefits Debit Card
The Benefits Card is the preferred and most convenient method to access available account funds for all eligible expenses. It automatically pays for and substantiates most eligible expenses at the point-of-purchase, eliminating the need to submit requests for reimbursement and waiting for payment.
Benefits Status Change
Certain qualifying status change events may allow for mid-year benefit changes to Flexible Spending Account elections. Visit our Benefits Status Change webpage.
*Important* Should you experience a change in moving from full to part-time or part to full-time status, it does NOT create a status change event in which you can change your health care FSA election.
IRS regulations permit health care FSA changes only in cases where there has been a change in eligibility or the number of dependents qualifying under the plan. Therefore, it is very important that you carefully consider your health care FSA needs when making your annual election.