Can I use my Medical FSA for transportation expenses related to eligible medical care?

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 must be accompanied by a receipt showing the provider, the date of service, and the amount of the expense. Actual mileage incurred with an automobile must be indicated as follows […]

What medical services are eligible under my Medical FSA?

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 for cosmetic reasons and those that are merely beneficial to one’s general health are not considered expenses for medical care.

What is a Medical Flexible Spending Account (FSA)?

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 other source. Medical FSAs are governed by Sections 125, 105, 106 and 213 of the Internal Revenue Code.

What is the length of the extended grace period?

If your plan includes the extended grace period, it is for 2-1/2 months after the end of the current plan year. You should refer to your Plan Highlights for the time frames that are applicable to your plan.

What is an extended grace period? (FSA)

IRS Notice 2005-42 modifies the Use-or-Lose Rule to allow participants to access any unused amounts remaining in a Flexible Spending Account (FSA) at the end of the plan year to reimburse eligible expenses provided during a grace period after the close of the plan year. Note: The IRS does not require plans to include the […]

What happens if my employment terminates before the end of the plan year?

Your Medical FSA will terminate as of the date your employment terminates. Eligible medical services provided prior to your date of termination will still be eligible for reimbursement, but services provided after the date of termination will not be eligible unless you are eligible for and elect to continue coverage under COBRA. See additional information […]

What dollar amount is available in my FSA?

The amount available for a Medical FSA = the total amount you elected for the current plan year minus any prior payments and reimbursements. The amount available for a Dependent Care FSA = the total payroll deductions posted to your Account for the current plan year minus any prior payments and reimbursements.