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comes your way.
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Flexible Spending
Accounts
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FSA
An FSA is designed to
help you:
Pay for care and services that
may not be covered by other
benefits
Save money by paying less in
taxes
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Understanding FSAs
Through your employer, you choose to set aside
money, tax-free, to pay for medical or dependent
care expenses.
You decide how much of your wages you want
taken out of your paycheck and put into an FSA.
You don’t have to pay taxes on this money.
The federal government and your employer can
limit the amount you can put in.
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Understanding FSAs
There are different types of FSAs. Here is what is
available to you:
• Health care FSA lets you set aside money from your
paycheck, before it is taxed, to pay for eligible health care
expenses.
• Dependent care FSA lets you save even more by setting
aside money to pay for eligible dependent care expenses.
• Limited-purpose FSA lets you set aside money to pay or
reimburse yourself for eligible dental and vision expenses
only. This type of FSA is compatible with a health savings
account.
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FSA
How FSAs work
1. Estimate your expenses for the year. Decide how
much money you want to set aside in your FSA.
2. Enroll when you enroll in your benefits. You must
re-enroll each year.
3. Money will be set aside into FSA from each
paycheck after the plan year starts. You pay no taxes
on that amount.
4. As you pay for eligible expenses, you reimburse
yourself from your FSA.
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FSA
FSA “Use it of Lose it”
rule
•You have until [Date], to receive services or purchase
expenses if you wish to pay or be reimbursed for them with
your FSA.
OR
•You have a “grace period” which gives you 2½ more
months to spend and submit for reimbursement
– Grace period ends on [Date]
OR
•You are eligible for a “carryover” amount of up to $500
from the previous plan year that will be available to you this
year in addition to this years election amount.
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FSA
Health Care FSA
You can set aside [$X,XXX] this year
Use it for medical, dental and vision expenses
such as:
OTC medicines and • Doctor’s office visit costs and procedures,
drugs require a valid including co-payment, co-insurance and
prescription. deductible costs
• Eyeglasses, contact lenses and supplies and
vision exams
Keep your receipts • Dental treatments, including X-rays, cleanings,
fillings and orthodontic treatment
• Covered prescriptions
• Over-the-counter (OTC) supplies and
equipment, such as insulin
Proprietary Information of UnitedHealth Group. Do not distribute or reproduce without express permission of UnitedHealth Group.
FSA
Dependent Care FSA
You can set aside [$X,XXX] this year
Keep your receipts
Use it for eligible child care and elder care
expenses, such as:
•Before and after school programs, including
extended care programs
•Babysitter (work-related, in your home or
someone else’s home)
•Child care, nanny or Au Pair
•Nursery school, pre-school
•Adult day care
•Elder care (when you work and in your home)
•Travel costs to and from eligible care if
provided by your care provider
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FSA
Limited Purpose FSA
You can set aside [$X,XXX] this year
•Must be enrolled in a high-deductible health
plan or HSA-eligible plan
•Can only be used for eligible dental and vision
expenses
Keep your receipts
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Health Care FSA Savings Example
Employee enrolls in a health care FSA and sets aside
$2,000 to pay for doctor’s visits and prescriptions.
Employee savings
Federal income tax $560
(28% tax bracket)
State income tax (5%) $100
FICA tax (7.65%) $153
Total tax savings for the year $813
Example is hypothetical and for illustrative purposes only. Talk with a qualified legal,
tax or financial advisor for your specific situation.
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More reasons to have an HCFSA
•All health care FSA (HCFSA) dollars available the first day
Dependent care FSAs work differently. You can only use as money becomes available
in the account.
• Health care FSA can help pay for hundreds of expenses
Some may surprise you such as laser eye surgery, stop-smoking programs and
acupuncture
• Claims can be paid automatically.
If expense is eligible, we automatically pay you the cost from FSA.
• You can submit and pay bills online at myuhc.com.
Use our online claim submission form to easily submit claims and pay bills.
• You can get your money faster with direct deposit.
•We can pay FSA dollars directly into personal checking or savings
•Saves time and paper, and you get reimbursed faster
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Health Care Spending Card
Your FSA will come with the Health Care Spending Card Debit Mastercard® to make
paying easy
• No reimbursement forms to submit
• Most grocery stores and pharmacies can
identify eligible expenses on receipts
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