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Medical Flexible Spending Account

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Our Flexible Spending Accounts (FSAs) are administered through Benefit Resource, Inc.  

A medical FSA allows you to pay for eligible health care expenses with tax-free dollars.  The monies in your medical FSA can be accessed via a debit card (with your plan-year election loaded on it). 

FY20 Plan Year - July 1, 2019 - June 30, 2020

Maximum election - $2,700 ($103.85/pay)

Minimum election -  $130 ($5.00/pay)

How the Medical FSA Works
  • Estimate what you will spend out-of-pocket for medical expenses during the current plan year
  • Enroll in the plan through our benefits enrollment website - enter your estimated spend when prompted for Medical FSA.  The annual amount elected to set aside will be deducted from your pay, pre-tax basis, in 26 equal amounts throughout the plan year
  • Utilize your debit card for qualified purchases. You may also submit claims for reimbursement.
  • Some eligible expenses include:
    • Co-payments, co-insurance, and deductibles
    • Dental care (exams, fillings, crowns)
    • Vision care, glasses, and contact lenses
    • Prescription drugs
    • Orthodontia

 
Some important things to remember with your FSA account:
  • Participants receive 2-debit cards to use for for eligible out-of-pocket medical expenses
  • You must re-enroll each year during the annual open enrollment window.  FSA does not continue automatically as other benefits do.
  • You do not have to participate in our Health Plans in order to participate in a FSA.

 

Medical FSA - Use it or Lose it Rule

Under current IRS law, the annual amount you set aside for eligible out-of-pocket medical expenses must be used within the 12 month plan year. You are also given a 90-day grace period after the plan year ends to submit expenses that occurred during the plan year.

You can rollover up to $500 into the new plan year. Any balance over $500 will forfeited.  This provision applies to the Medical FSA only.

 

Benefit Resource, Inc.  Flexible Spending Account Brochure