Flexible Spending Accounts
What expenses are reimbursable under each of the plan?
Under the Medical Care FSA, medically necessary expenses not reimbursed by your medical, dental or vision insurance are reimbursable under the plan. These are expenses incurred by you, your spouse and your dependents. These expenses include insurance deductible, co-pay and coinsurance amounts as well as items such as over-the-counter drugs and medicines, medical supplies, orthodontia and laser eye surgery. Items not eligible for reimbursement are insurance premiums, and cosmetics procedure aimed at improving your general appearance. You cannot take a deduction from your personal income taxes for amounts you have reimbursed through a Medical Care FSA.
Click here for a listing of Medical Care FSA eligible expenses or ineligible expenses.
Under a Dependent Care FSA, dependent care expenses incurred by you so that you (and if married, your spouse) can work are eligible for reimbursement. This includes dependent care expenses for your dependent child through age 12 for whom you have custody. Dependent care expenses for a spouse or other dependent that is physically or mentally disabled and spends at least 8 hours a day in your home also qualify as eligible expenses. The dependent care services themselves may be provided by a babysitter or other care provider in your home, in the provider's home or a licensed child or adult day care facility. Some examples of ineligible expenses are tuition costs for kindergarten or higher grades and overnight camps.
Click here for a listing of Dependent Care FSA eligible expenses or ineligible expenses.
Expenses reimbursable under either a Medical Care or Dependent Care FSA must be incurred, i.e., the actual service must be rendered, during the plan year and while you are a participant of the plan.
View additional questions:
- What is a Flexible Spending Account (FSA)?
- How much can I contribute to each account?
- What expenses are reimbursable under each of the plan?
- How do I enroll in a Medical Care or Dependent Care FSA?
- Do I have to participate in my employer's medical insurance plan to enroll in the Medical Care FSA?
- What's better for me, the Dependent Care FSA or the Federal Dependent Care Tax Credit?
- Can I change my Medical Care or Dependent Care election at any time?
- When can I submit a claim for reimbursement?
- How do I submit a claim for reimbursement of my expenses?
- What happens if I terminate employment during the year?
- What happens if my expenses are lower than anticipated?
- Are there any filing requirements at the end of the year when I file for my income taxes?