Health Care FSA

Save money with the Health Care Flexible Spending Account (FSA) by setting aside pre-tax dollars to pay for qualified health care expenses. PayFlex administers the FSA.

At-A-Glance

Here’s a quick look at the Health Care FSA. For details, review the PayFlex website for eligible expenses and frequently asked questions.

Eligibility Regular, full-time employees who are not enrolled in the Stimson medical plan are eligible to contribute to a Health Care FSA.
Enrollment You can enroll during Open Enrollment. You must re-enroll each year to continue participation. New hires can enroll during the initial enrollment period.
Contributions to Your Account
  • Contribute up to $2,750.
  • Your contribution will be taken from your paycheck in equal amounts throughout the plan year (over 23 pay periods starting with the second pay period in January).
  • Your entire annual contribution is available to use January 1.

You cannot change your election during the plan year unless you have a qualifying life event.

Eligible Expenses

Expenses incurred between January 1 and December 31 of the plan year, including:

  • Medical plan deductibles, copays and coinsurance
  • Eye exams, eyeglasses and contact lenses
  • LASIK surgery for vision correction
  • Hearing exams and hearing aids
  • Lab fees
  • Chiropractic treatment
  • Dental and orthodontic care

IRS Publication 502 has a complete list of eligible health care expenses.

Using Your Health Care FSA

There are several ways to get reimbursed from your Health Care FSA:

PayFlex Card. Swipe your card and select credit or debit to pay for eligible health care expenses.

Submit a Claim. Pay for eligible expenses with cash, check or personal credit card and then submit a claim for reimbursement online or through the PayFlex Mobile™ app. Or, fill out a Flexible Spending Account Claim Form and fax or mail it to PayFlex along with supporting documentation.

Note: For over-the-counter drugs and medications, you’ll need a written prescription from your doctor. After you pay for the prescription, you’ll need to submit a claim for reimbursement from your account.

Request Direct Deposit. To get your reimbursement deposited directly to your bank account, complete and submit the Direct Deposit/EFT Authorization Form.

You have until March 31 to submit claims for expenses incurred during the previous plan year.

Forfeit of Funds  You forfeit any unused balance in your account after eligible expenses have been reimbursed.
KEY TERM

Qualifying Life Event

A qualifying life event includes marriage or divorce, addition or loss of a dependent, loss or gain of coverage under another qualified benefit plan, death of a dependent.

KEY TERM

Eligible Dependents

Eligible dependents include your spouse/domestic partner, as defined by state law, your biological and stepchildren, up to age 26 (unless disabled and approved to be covered on the plan as an adult dependent), and your legally adopted children and children placed with you in the process of adoption.

HSAs and Health Care FSAs

If you enroll in the Stimson medical plan with HSA, you cannot have a Health Care FSA.

Check out the differences between the Health Savings Account (HSA) and Health Care FSA to help you with your enrollment decisions.