Page 13 - Future Steps
P. 13
Flexible Spending Accounts
(FSA)
Healthcare FSA
The healthcare FSA allows you to allocate pretax dollars to pay for
healthcare expenses that are not paid by your healthcare plans. You
are reimbursed for eligible healthcare expenses, and your entire annual
election is available for immediate use.
Eligible expenses are those you incur for healthcare for you, your spouse,
and your eligible dependents, even if they are not enrolled in a VER
health plan. Health care includes medical, pharmacy, dental, vision, and
hearing expenses that you pay for out of your own pocket, except for
expenses paid by another insurance plan.
What are Eligible Expenses for the Healthcare
FSA?
Examples of Eligible Expenses
Deductibles Dental work/orthodontia
Copays/coinsurance Diabetic supplies
Eye exams/glasses LASIK surgery
Examples of Ineligible Expenses
Certain over-the-counter drugs Vitamins
obtained without a prescription Dietary supplements
Cosmetic surgery Expenses reimbursed or paid
Non-medically necessary by another health plan or
prescriptions insurance
The maximum annual contribution amount is $2,600.
For a complete listing of eligible expenses, consult IRS publication 502 via
the web at www.irs.gov.
HSA plan participants are ineligible to participate in
the healthcare FSA.
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(FSA)
Healthcare FSA
The healthcare FSA allows you to allocate pretax dollars to pay for
healthcare expenses that are not paid by your healthcare plans. You
are reimbursed for eligible healthcare expenses, and your entire annual
election is available for immediate use.
Eligible expenses are those you incur for healthcare for you, your spouse,
and your eligible dependents, even if they are not enrolled in a VER
health plan. Health care includes medical, pharmacy, dental, vision, and
hearing expenses that you pay for out of your own pocket, except for
expenses paid by another insurance plan.
What are Eligible Expenses for the Healthcare
FSA?
Examples of Eligible Expenses
Deductibles Dental work/orthodontia
Copays/coinsurance Diabetic supplies
Eye exams/glasses LASIK surgery
Examples of Ineligible Expenses
Certain over-the-counter drugs Vitamins
obtained without a prescription Dietary supplements
Cosmetic surgery Expenses reimbursed or paid
Non-medically necessary by another health plan or
prescriptions insurance
The maximum annual contribution amount is $2,600.
For a complete listing of eligible expenses, consult IRS publication 502 via
the web at www.irs.gov.
HSA plan participants are ineligible to participate in
the healthcare FSA.
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