A health care FSA lets you set aside pre-tax dollars to pay for eligible health care expenses for you and your family, even if you or they aren’t covered under a Katy ISD medical plan.
You can contribute between $500 and $2,700 per year through automatic payroll deductions over 24 pay periods.
Since your contribution is pre-tax, less taxes come out of your paycheck.
The full amount you set aside is available to you on January 1, 2020.
You have to enroll each year.
First Financial Group of America administers the plan.
|Acupuncture||Special medical equipment|
|Hearing aids||Special education devices|
|Individual psychiatric and psychological counseling||Smoking-cessation programs or related prescription drugs|
|Lasik or other vision correction surgery||Weight-loss programs for individuals diagnosed as obese|
Over-the-counter medical supplies and products, such as:
|Bandages and wraps||Contraceptives and family planning items|
|Braces and supports||Denture adhesives|
|Catheters||Insulin and diabetic supplies|
|Contact lens solutions and supplies|
Over-the-counter medicines without a doctor’s prescription, such as:
|Acid controllers||Digestive aids|
|Allergy & sinus||Feminine antifungal/anti-itch|
|Antibiotic products||Hemorrhoidal preparations|
|Anti-itch & insect bite||Pain relief|
|Antiparasitic treatments||Respiratory treatments|
|Baby rash ointments/creams||Sleep aids and sedatives|
|Cold sore remedies||Stomach remedies|
|Cough, cold & flu|
In return for the favorable tax advantages, the IRS has strict rules on these accounts.
Only list expenses that are not paid through your medical, dental, vision or any other health plan. Using last year’s expenses can help. You can also use the Health Care Flexible Spending Account Worksheet. Estimate from the date your coverage begins if you’re hired or if you become eligible for benefits during the year.
And remember, if you’re enrolled in a Consumer plan, payment for all eligible medical care costs, including services under your medical plan, comes from your HealthFund account first. After your HealthFund is depleted, you may use your FSA to cover medical expenses.
The easiest way to access your health care FSA funds is with your Benefits Flex debit card, which you receive after you enroll. Here are some guidelines:
At the store
Certain stores accept your debit card to buy prescriptions and over-the-counter (OTC) items. Others accept your debit card for prescriptions only. For a list of certified and registered merchants, call member services at the number on the back of your debit card. For example, you can use your FSA debit card for OTC medications at CVS, Walmart, Sam’s Club, Walgreens and drugstore.com. You can only use your FSA card for an OTC medication if you have a doctor’s prescription for the medication.
At the doctor or dentist
Be very careful when paying for medical provider up-front costs. Ask the medical provider to file the claim with Aetna or, if your provider is out of network, file a claim yourself, before you use your debit card to make sure you’re paying the correct out-of-pocket amount, including any contract discounts. Then, if you’re responsible for a portion of the charges, you can pay that out of your health care FSA.
For dependents not covered by your medical plan
Tax dependents of FSA participants can use the debit card for medical, dental and vision expenses. Again, you’re required to submit receipts for these expenses when you submit your claim if you don't use your FSA debit card.
The IRS limits the misuse of FSA debit cards. Retail locations that contain pharmacies and also sell non-pharmacy items must use the Inventory Information Approval System (IIAS) to automatically substantiate pharmacy purchases and allow you to use your FSA debit card. Call First Financial Group of America at 866-853-3539 to find out which non-traditional pharmacy providers use IIAS. You may still use your FSA debit card at traditional pharmacies and with the Express Scripts mail service program.
January 1, 2019 – March 15, 2020
Eligible health care FSA expenses are covered
May 15, 2020
Deadline to submit documentation for 2019 health care FSA expenses
If you get close to the March 15 date and have money in your health care FSA that you don’t know what to do with, use the money to stock up on covered OTC products listed above.
If you do not use your Benefits Flex debit card, you must submit a claim form and any additional required documentation to First Financial Group of America to be reimbursed for your health care FSA expenses.
You can file paper by regular mail, online, by fax, or through the First Financial Flex Benefits Portal or by fax at 800-298-7785.
For any benefits question or concern, including 24/7 Nurse Line access, one call does it all.
Call us at 866-222-KISD (5473)