FLEXIBLE SPENDING ACCOUNT ( FSA )
Understanding your Flexible Spending Account
Available to members on either UHC medical plan , an FSA offers more flexibility for use than an HSA , however your contributions don ’ t carry over from year-to-year ( use it or lose it !). Some benefits of the plan include :
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Your annual contribution amount is pre-loaded for immediate use ( up to the IRS limit )* Funds can be used for qualifying Medical , Dental or Vision expenses Funds can also be used for child / adult day care expenses through the Dependent Day Care FSA Every dollar spent from your FSA is tax-free , and you have until March 15 th of each year to spend previous year funds
How Much Can I Contribute ?
This is determined by the IRS each calendar year . For 2021 , the minimum / maximum limits are below :
Health Expense Limited Scope Dependent Day Care
$ 260 / $ 2,700 $ 260 / $ 2,700 $ 260 / $ 5,000
* Dependent Day Care not pre-loaded
Opening and spending your FSA funds
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During
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Eligible the New Hire / Annual Enrollment period , elect elect the FSA option along with your contribution amount in Lawson .
You will receive an FSA Debit Mastercard through the mail with your funds pre-loaded , and you can manage your FSA online through myuhc . com .
claims incurred by March 15 may be submitted for reimbursement from the prior year ’ s plan balance . Active employee claims must be filed with UHC FSA division no later than May 31 .
IMPORTANT : Your FSA is managed by United Healthcare , and unless you specify otherwise all claims that you are liable for will first be deducted from your FSA funds . To change this default option , login to your account at myuhc . com .
City of Arlington / EMPLOYEE BENEFITS GUIDE 2021
Important Notes about FSA ’ s
Separate accounts : IRS regulations treat each FSA category as a separate account , and does not allow for transfers from other FSA accounts ( for example , Health Expense to Dependent Day Care )
Dependent Day Care : Can only be used for child or adult care expenses that allow you to work , go to school fulltime or look for full-time work . Must be a claimed dependent on your income tax return to qualify . You cannot be reimbursed for care provided by your spouse or child under the age of 19 or anyone you claim as a dependent .
FSA Limited Scope Provision : If you are on the Value plan , you may elect the Limited Scope FSA option along with your HSA , however the FSA funds may only be used for Dental / Vision care expenses .
Plan Termination : FSA plans end the last day of the month that your employment ends , and you have 30 days from this point to file FSA claims .
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