Flexible Spending Accounts
A flexible spending account (FSA) lets you set aside money to help pay for health and dependent care expenses. You don’t pay taxes on the money you contribute, which saves you money. You must sign up each year, including
- Health Care FSA — Use it for eligible health care expenses like medical, pharmacy, dental and vision services and supplies.
- Dependent Care FSA — Use it for eligible dependent care expenses like day care, elder care services and programs.
|2019 Contribution limits*|
|Dependent Care||No Minimum||$5,000|
How does your Medical FSA work?
If you agree to set aside money in an FSA to save taxes on eligible health expenses, money is taken out of each paycheck before federal and Social Security taxes are taken out. The money is then placed into your FSA. You can use this money to pay co-pays, deductibles, coinsurance, prescription costs and other eligible medical expenses listed by the Internal Revenue Service. A list of eligible expenses can be found below.
You have three options on how to use the money to pay your out-of-pocket expenses.
- You can use your FSA card at the point of service to pay for eligible expenses.
- You can pay your out-of-pocket expenses up front and request reimbursement from your FSA account. This will allow you to decide when to use your FSA money, but it will require paperwork and time for each individual transaction you request for reimbursement.
- You can skip the paperwork and stamps and choose UHC's automatic payment feature. This feature will allow UHC to automatically send you a check for the amount you paid up front, out-of-pocket. UHC will know only the amounts submitted through the medical claims. To choose this option you must:
- Login to myuhc.com/claims
- Click on claims and accounts
- Select flexible spending account
- Select add/change automatic payment settings
How your Dependent Care FSA Works
If you agree to set aside money in your Dependent Care FSA, you can use this money to be reimbursed for eligible dependent day care expenses. Covered dependents include children under 13, a disabled spouse, and/or a disabled dependent. Dependent Care FSA money is also taken out of each paycheck before taxes. However, you may not be reimbursed for a dependent care expense until your FSA account has accumulated the total amount you are requesting from your paycheck deductions. Your FSA card cannot be used for dependent care reimbursement.
Be sure to spend your money before you lose it. You have until the last date of coverage to use your Dependent Care FSA funds and 90 days after your term date to submit claims for reimbursement.
What expenses can be reimbursed or paid for with my health FSA?
The IRS decides which expenses can be paid from an FSA, which include, but not limited to, deductibles, copayments and medication. The IRS can modify the list at any time. Check EZlink for the list of IRS expenses that are eligible for reimbursement under your FSA.
In this section:
Flexible Spending Account Downloads
|IRS Eligible Medical Expenses|