A Health Care FSA is used to set aside funds for eligible expenses not paid by health plans covering you and your dependent(s). Each year you can set aside the amount of pre-tax dollars you want to place in the account.
You may contribute to a Health Care Spending Account (General Purpose FSA or Limited Purpose FSA) or the Dependent Care Spending Account, or both. However, funds must be kept separate; they may not be combined or used interchangeably.
- Set aside up to annual limits for eligible expenses:
- General Purpose Health Care FSA: eligible medical, prescription, dental, vision and hearing expenses
- Limited Purpose Health Care FSA: eligible dental and vision expenses
- Pay for eligible out-of-pocket expenses for deductibles, co-insurance and co-pays
- To receive reimbursement for most expenses you do not need to submit a Health Care FSA form.
- Once a bill is submitted to your regular medical plan, any eligible unpaid charges automatically pass to the FSA system and are paid through your Health Care FSA.