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Flexible Spending Accounts (FSA)
HEALTHCARE FSA
The maximum amount you may contribute to the Healthcare Spending Account under the City’s
plan for each Plan Year is $2,400. This account can be used to reimburse you using pre-tax
money for qualified out-of-pocket healthcare expenses not covered under your healthcare
plans. Out-of-pocket healthcare expenses eligible for reimbursement may include, but are not
limited to, copays and deductibles for medical, dental, vision and pharmacy services.
The 2018 Healthcare Spending Account can only be used to reimburse for costs incurred through
the end of the Plan Year (December 31, 2018), but you have until March 31, 2019 to submit for
reimbursement of these 2018 expenses. Please note that it is important that you carefully
consider and choose the right annual election amount for you. If you have more than $50
remaining in your 2018 Healthcare Spending Account after March 31, 2019, balances of up to
$500 will be automatically rolled over into your 2019 Healthcare Spending Account. Any
amounts below $50 or over $500 will be forfeited to the Plan.
TIPS FOR YOUR HEALTHCARE FSA…
Submitting for reimbursement:
o
Payflex Mobile app
: Manage your account, view alerts, snap a photo of your
receipts to submit claims. App is available for iPhone and Android.
o
Payflex online
: Scan and upload receipts and submit claims via the online portal.
Reimbursement options:
o
Pay yourself
: Pay for eligible expenses yourself with cash, check or personal credit
card. Then submit a claim to pay yourself back. Payflex can issue you a check or,
better yet, reimburse you via direct deposit.
o
Pay your provider
: Use Payflex online to pay your provider directly.
FSAs have a use-it-or-lose-it rule: While we offer a rollover provision as noted above, funds
below $50 or over $500 will be forfeited if not used.
Other requirements: You can change your contribution mid-year if you have a qualifying
change in status (e.g. marriage, employment status, number of tax dependents, etc.).
Healthcare FSA
2018 Limit:
$2,400
Dates to incur claims:
January 1, 2018 –
December 31, 2018
Last date to submit for
reimbursement:
March 31, 2019