The Health Care Flexible Spending Account (FSA) allows you to set aside pre-tax dollars from your paycheck for eligible out-of-pocket healthcare expenses not covered by a health care plan.
Below is a high-level overview of the 2016 Health Care FSA, administered by PayFlex. For details, review the FSA summary plan description.
| Plan Features | ||
|---|---|---|
Enrollment |
If you are a new hire, you can enroll in the Health Care FSA within 31 days of your hire date. Each year, you can enroll during the annual enrollment period. |
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Eligible Expenses |
Use the money in your account to reimburse yourself on a pre-tax basis for eligible expenses, including:
Note: Over-the-counter medications are eligible only with a prescription. Federal tax law prohibits the use of Health Care FSAs for the expenses of same gender domestic partners or their children unless they are dependents listed on your federal tax return. Find more information about eligible expenses and the claim filing process on the PayFlex website or call 888-678-8242. |
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Employee Annual Contributions |
$2,500 maximum |
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Tax Savings |
Contributions are pre-tax and qualified reimbursements are tax-free. |
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Forfeit of Funds |
Each year you have until March 31 to submit claims for health care expenses incurred during the previous calendar year equal to your contribution. Otherwise, you will forfeit any unused money in your Health Care FSA. |
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Portability |
If you leave CRC, you may use your Health Care FSA for eligible expenses incurred up to your last day of employment unless you elect COBRA coverage for a Health Care FSA. |
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Limited Purpose Health Care FSA |
If you enroll in the High Deductible Medical Plan and a Health Savings Account, you may only participate in a “limited purpose” Health Care FSA.
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