This benefit is provided by a company called TASC. See www.TASCOnline.com for more details.
The health care FSA account provides an opportunity to authorize a payroll deduction on a pre-tax basis to pay for eligible Health, Dental, and Vision expenses that are not covered by your insurance plans.
*Please note that a $2.50 convenience fee will be deducted bi-weekly for this benefit*
To be eligible for reimbursement, a health care expense must be:
- For you, your spouse or qualifying dependent children
- Medically necessary
- Not reimbursed by your health/dental/vision insurance or any other benefit plan
Examples of eligible expenses include:
- Health plan copays
- Dental expenses
- Prescription expenses
More important info:
- You will receive a debit card to use for your eligible expenses.
- Maximum amount that you can contribute towards your Health care FSA for 2021 is $2,750.
- Minimum amount that you can contribute towards your Health care FSA for 2021 is $250.
- You are required to re-enroll every year for your FSA account. This benefit does not roll over to the following year.
- Remember that FSA dollars are “use-it-or-lose-it” funds. You will only be able to roll over $500 into the new plan year, so make sure you are choosing your amount wisely. Anything over the rollover amount will be forfeited at the end of the year.
ELECTING THE FSA AS WELL AS THE HSA AT OPEN ENROLLMENT:
If you choose to participate in BOTH the HSA plan and the FSA in the same calendar year, your FSA will turn into a Limited purpose FSA.
Limited purpose FSA (LPFSA) is a flexible spending account that ONLY reimburses you for eligible dental and vision expenses. An LPFSA is available to employees who are enrolled in a high deductible health plan (HDHP) as well as an HSA.
Click below to see a list of eligible FSA expenses: