If, at the end of the year, I have $0 left in my Health Care Account, $50 in my Work-Related Dependent Care Account and medical expenses of $50, may I use the funds in the Dependent Care Account to get reimbursed for the medical expenses?
No. Funds may not be transferred between accounts. Careful estimates should be made at the beginning of the year for each different type of expense.
I was billed $100 in March for my surgery last October. Can I be reimbursed for this with this year’s money?
No. Reimbursements are made based on your date of service, not when you paid the bill. In this case, you would be reimbursed with money from the prior year, if you have any available, because that is the year you incurred the expense.
I have dental insurance but my dentist makes me pay at the time of service. Can I get reimbursed for what I have paid?
Not immediately. Where you are responsible for a percentage of the expense, before we can reimburse you, you must first submit these types of expenses to your insurance company. Your insurance company will then send you a summary of the claims you submitted indicating what amount, if any, they have paid. This is known as […]
What kinds of over-the-counter items can be reimbursed?
Effective January 1, 2020, FSA-eligible expenses now include over-the-counter medicines (cold medicines, antihistamines, antacids, anti-inflammatories, etc.) and menstrual care products (tampons, pads, liners). As always, you can continue to use your FSA funds to purchase over-the-counter items that are not considered a drug or medicine like bandages, wound care and contact lens solution as examples.
What documentation do I need to submit for reimbursement for orthodontia?
If your employer’s plan limits reimbursement to a down payment with monthly installments, you will need to first submit a copy of the orthodontic agreement. You will then need to submit either a copy of the payment coupon or a receipt showing what you owe (or paid) for that month.
Can I use my health FSA to pay for my child’s expenses?
Parents may be reimbursed tax-free for their child’s medical expenses through the calendar year in which the child attains age 26, even if your child is not your tax dependent. This means you can use your FSA to pay for your child’s medical expenses even if your child is not living with you, is married […]
What happens after my child attains age 26?
A child over age 26 may generally be considered your dependent if you provide over 50% of the child’s support. In this scenario, you could use your health FSA for their qualified expenses.
Who qualifies as my child?
The IRS defines a child as your son, daughter, stepson, step-daughter as well as a legally adopted child, a child placed for adoption and a foster child. Your child’s expenses are eligible for reimbursement through age 26.
My divorce decree requires that I reimburse my ex-spouse for childcare expenses incurred while we both work. I am not the custodial parent. Can I be reimbursed for work-related dependent care expenses?
No. Only the custodial parent may be reimbursed tax-free for work-related day care expenses.
Will premiums for my group insurance be reimbursed from my FSA?
No. Group insurance premiums are deducted tax free from your paycheck and immediately sent to the insurance company.