Health Care
Flexible Spending Account
With this benefit, you use before-tax dollars to pay for certain health care expenses not already covered by your
health care plan, including everyday health care expenses like over-the-counter medications.
The Health Care FSA helps you manage your health care expenses. You are reimbursed for eligible
health care expenses with before-tax dollars that you set aside, stretching each dollar further. Here's how the account
works:
You can contribute up to $5,000 annually to your account.
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You save money because you are reimbursed for eligible expenses with tax-free dollars (this means you don't pay federal income, most state income and social security taxes on your reimbursement).
Contributions are deducted from your pay before taxes are calculated, reducing your taxable income.
Use the FSA to reimburse yourself for eligible health care expenses incurred throughout the year that aren't reimbursed
from another source.
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Eligible expenses include your own and those of your qualified dependents, even if they are not enrolled in your or
your spouse's medical plan.
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Types of eligible expenses include medical, prescription drug (including over-the-counter medications), mental health and substance abuse, vision, and dental expenses.
(For a complete list of eligible expenses, see MyBenefits Online.)
Save 30% of Your Health Care Expenses*
Everyone has out-of-pocket health care expenses, so why not save 30%?* You set aside before-tax dollars in an FSA. That means you
pay for eligible expenses with tax-free dollars.
Plan Carefully!
Estimate your
eligible expenses carefully. Once you make your election, you can't change it until the next Annual Enrollment period unless you have a
qualifying change in status. You cannot transfer money between your
Health Care FSA and Dependent Care FSA.
Tips for Using Your FSA
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Don't forget to include anticipated over-the-counter expenses — like pain relievers, cold and allergy medicines, antacids, bandages, dehydration remedies, and anti-itch and antiarthritic creams — when you calculate your contributions to the Health Care FSA.
FSA elections do not automatically carry over from year to year. If you want an account, you must actively elect it every year.
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You have until March 15, 2010 to incur expenses that may be reimbursed from your 2009 contributions. Any unused 2009 contributions will be forfeited if not submitted for reimbursement by June 30, 2010.
Also consider …
Eligible Expenses
Getting Reimbursed