Page 11 - Guide
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Flexible Spending Accounts
Available Through Health Equity Debit Card—NEW!
An FSA allows you to set aside before-tax dollars from your paycheck to The Health Equity FSA debit card is an
cover qualiied expenses you would normally pay out of your pocket with easy way to keep cash in your pocket while
after-tax dollars. You pay no federal income, state income, or Social Security using your FSA. Many payments made
with the card are approved automatically,
taxes on the money you place in your FSA. so no further paperwork is required. Both
healthcare and dependent care expenses
Funds you elect to contribute to the Healthcare FSA are available in full on may be paid with the debit card.
the irst day of the plan year. Our FSA program includes a $500 rollover
provision. You can roll over up to $500 of unused FSA dollars into your If HealthEquity cannot determine the
use of your debit card is for an eligible
account to use next year. The amount you roll over is in addition to your expense, a request for substantiation will
regular annual election. Funds you contribute to the Dependent Care FSA be sent which will require you to submit a
function like a debit card; you need to accumulate the funds before you can copy of the receipt which clearly indicates
use them. the nature of the expense. The reason
for this request is to prove funds were
used to pay eligible medical, dental, and
Healthcare FSA vision care expenses. Failure to respond
The Healthcare FSA lets you pay for certain IRS-approved medical care to substantiation requests will result in the
expenses not covered by your insurance plan with pre-tax dollars. For suspension of your debit card.
example, cash you now spend on deductibles, copayments, or other Your FSA debit card eligible expenses
out-of-pocket medical expenses can instead be placed in the Healthcare include medical out-of-pocket expenses
Reimbursement FSA pre-tax to pay for these expenses. You may also use not covered by the HRA, dental, vision,
pharmacy copays, and over-the-counter
Healthcare FSA funds to reimburse eligible expenses for your dependents materials and medication with a written
who are not covered under the MG+BW medical plan. The maximum prescription from your doctor.
contribution to the healthcare reimbursement FSA is $2,500 per plan year. The FSA debit card can be used to pay
your portion of the deductible before the
If you enroll in the MG+BW medical plan, the HRA will reimburse eligible HRA pays. The HRA will automatically
medical plan expenses which apply to you or a covered family member’s begin to pay your portion of the deductible
plan year deductible. You may use your healthcare FSA funds to reimburse once you have exceeded the $500 per
your share of the medical deductible which you must pay before your individual or $1,000 per family deductible.
MG+BW funded HRA begins to pay. We suggest you wait to pay your portion
of the deductible until you receive your
Explanation of Beneits (EOB) from BCBS of
Once you have paid the irst $500/$1,000 of your plan year deductible, NC and you may use your FSA debit card to
your available HRA funds will be used to reimburse the provider. You are pay your share of the deductible.
not required to submit claims for reimbursement from your HRA.
You may use your FSA account to pay for the expenses of your spouse
or dependent children to age 26, regardless of whether they are covered under the
MG+BW medical, dental, or vision plans.
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Available Through Health Equity Debit Card—NEW!
An FSA allows you to set aside before-tax dollars from your paycheck to The Health Equity FSA debit card is an
cover qualiied expenses you would normally pay out of your pocket with easy way to keep cash in your pocket while
after-tax dollars. You pay no federal income, state income, or Social Security using your FSA. Many payments made
with the card are approved automatically,
taxes on the money you place in your FSA. so no further paperwork is required. Both
healthcare and dependent care expenses
Funds you elect to contribute to the Healthcare FSA are available in full on may be paid with the debit card.
the irst day of the plan year. Our FSA program includes a $500 rollover
provision. You can roll over up to $500 of unused FSA dollars into your If HealthEquity cannot determine the
use of your debit card is for an eligible
account to use next year. The amount you roll over is in addition to your expense, a request for substantiation will
regular annual election. Funds you contribute to the Dependent Care FSA be sent which will require you to submit a
function like a debit card; you need to accumulate the funds before you can copy of the receipt which clearly indicates
use them. the nature of the expense. The reason
for this request is to prove funds were
used to pay eligible medical, dental, and
Healthcare FSA vision care expenses. Failure to respond
The Healthcare FSA lets you pay for certain IRS-approved medical care to substantiation requests will result in the
expenses not covered by your insurance plan with pre-tax dollars. For suspension of your debit card.
example, cash you now spend on deductibles, copayments, or other Your FSA debit card eligible expenses
out-of-pocket medical expenses can instead be placed in the Healthcare include medical out-of-pocket expenses
Reimbursement FSA pre-tax to pay for these expenses. You may also use not covered by the HRA, dental, vision,
pharmacy copays, and over-the-counter
Healthcare FSA funds to reimburse eligible expenses for your dependents materials and medication with a written
who are not covered under the MG+BW medical plan. The maximum prescription from your doctor.
contribution to the healthcare reimbursement FSA is $2,500 per plan year. The FSA debit card can be used to pay
your portion of the deductible before the
If you enroll in the MG+BW medical plan, the HRA will reimburse eligible HRA pays. The HRA will automatically
medical plan expenses which apply to you or a covered family member’s begin to pay your portion of the deductible
plan year deductible. You may use your healthcare FSA funds to reimburse once you have exceeded the $500 per
your share of the medical deductible which you must pay before your individual or $1,000 per family deductible.
MG+BW funded HRA begins to pay. We suggest you wait to pay your portion
of the deductible until you receive your
Explanation of Beneits (EOB) from BCBS of
Once you have paid the irst $500/$1,000 of your plan year deductible, NC and you may use your FSA debit card to
your available HRA funds will be used to reimburse the provider. You are pay your share of the deductible.
not required to submit claims for reimbursement from your HRA.
You may use your FSA account to pay for the expenses of your spouse
or dependent children to age 26, regardless of whether they are covered under the
MG+BW medical, dental, or vision plans.
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