The Medical FSA is more advantageous for most people because of the following reasons: On your tax return, your eligible medical expenses will need to
No. Because eligible expenses are paid with tax-free dollars from your Medical FSA, you cannot claim the same expenses on your income tax return (no
Information about a Medical FSA does not need to be reported on your tax return. Your W-2 form will not include any tax-free amounts that
Yes, transportation expenses (e.g. tolls, parking fees, mileage) required to obtain eligible medical care are eligible for reimbursement. For tolls and parking fees, your claim
No. A warranty is like an insurance policy and is not associated with a specific medical service that has already been provided.
No, insurance premiums of any kind are not eligible expenses per IRS regulations.
Yes, co-payments and deductibles are eligible expenses.
Yes. The funds in your Medical FSA can be used for eligible medical services provided for you, your spouse and/or any of your eligible dependents.
Yes. You and your spouse may each elect the maximum amount allowed by your respective plans. However, you cannot receive payment for the same services
In general, eligible services are those that are used primarily to diagnose, prevent, treat or mitigate a physical or mental defect or illness. Services provided
A Medical FSA is an account that allows tax-free dollars to be used for payment of eligible medical services not covered or reimbursed by any
For a plan that allows reimbursement of orthodontia (e.g. Medical FSA), IRS regulations allow reimbursement based on date of payment, date of service or the
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HSA Custodial Services are provided by a separate financial institution. See your HSA Account Agreement for specific account terms.
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