Health Care FSA
A Health Care FSA (Flexible Spending Account) allows you to pay for certain health care expenses using before-tax contributions from your paycheck that generally are not covered by another benefit plan. All benefits-eligible employees not enrolled in the Maroon Savings Choice medical plan can contribute to a health care FSA.
The Internal Revenue Service (IRS) limits the amount you can contribute to an FSA as shown in the table below.
|Type of FSA||Minimum Annual Contribution||Maximum Annual Contribution|
Eligible medical expenses qualify for reimbursement from your health care FSA provided they meet the criteria of Internal Revenue Service Publication 502 and that you may be able to deduct from your federal income taxes.
The lists below only provides a few examples of eligible and ineligible expenses. The Health Care FSA plan intends to follow current IRS reimbursement guidelines. For a list of eligible expenses visit WageWorks.
You can use your health care FSA to pay for:
- Medical insurance deductibles and copayments.
- Prescription medication.
- Mental health care (psychiatric and psychological) services not covered by insurance.
- Dental expenses not covered by insurance.
- Eye care, including exams, glasses, contact lenses and laser surgery.
- Hearing aids.
- Special education or treatment for a disabled dependent.
You cannot use a health care FSA to pay for:
- Medical or dental insurance premiums.
- Vitamins, herbal and dietary supplements.
- Marriage counseling fees.
- Health club memberships or physical therapy for general health.
- Cosmetic surgery.
- Long-term care services or premiums.
As a health care FSA participant you can pay for an eligible expense upfront and then submit a written claim for reimbursement or use a WageWorks debit card to pay the expense. Supporting documentation of the expense and payment will be required for each reimbursement and debit card transaction. You may submit your health plan's Explanation of Benefits statement or an itemized receipt or bill from the provider that includes the patient's name, a description of the service, and your portion of the charge. For prescriptions you may submit the receipt from your pharmacy, including the patient's name, the Rx number, the name of the drug, and the amount. Credit card receipts and cancelled checks do not meet the requirements for acceptable documentation. If you are not sure whether an expense is covered, contact WageWorks.
Traditional Paper Claims
When you incur an eligible medical expense, you pay for the eligible expense up front and then file a claim with WageWorks. For reimbursement, complete, sign, and return the Request for Reimbursement Form to WageWorks. Directly with WageWorks, you can choose to have eligible health reimbursements either direct deposited into your bank account or mailed to your home address in the form of a check.
Debit Card Claims
The WageWorks debit card allows you to pay for eligible medical, dental, and vision expenses at the time that you incur the expense. A debit card eliminates the need for you to pay for eligible expenses up front and then submit a claim form for reimbursement.
While using your WageWorks debit card offers convenience, please keep receipts for all purchases made with your card. Per IRS regulations, WageWorks will require itemized receipts to verify card purchases.The easiest way to submit receipts and supporting documentation is online at WageWorks. Simply log in, click the Submit a Card Receipt quick link and follow the steps to upload your documentation. You can also send by fax to (877)353-9236 or mail to P.O. Box 14053, Lexington, KY 40512. Remember to always include a completed Return Form. Failure to submit proper documentation within 90 days of the transaction date will result in the deactivation of your card. Once your card has been deactivated, you must clear all of the unresolved card transactions to reactivate your card. If you do not provide acceptable documentation or repay the plan for the ineligible transaction within the allotted time frame, any subsequent non-card (paper) claims will be used to resolve the balance due (by reducing the amount of your reimbursement by the amount of the balance due).
Enrolling in a Flexible Spending Account
You may enroll in a health care FSA plan:
- Your election must be made within 31 days following your date of hire or the date you become a Benefits-Eligible Employee by visiting Workday.
- If you do not enroll within 31 days, you must wait until Open Enrollment, unless you have a qualifying change in status or special enrollment event. Enrollments made during Open Enrollment take effect as of the following January 1.