Beginning January 1, 2011, currently eligible over-the-counter (OTC) products that are medicines or drugs (e.g., acne treatments, allergy and cold medicines, antacides, etc.) will not be eligible for reimbursement from your Health Care FSA - unless, you have a prescription for that item written by your physician. You can not use your Benny card for this purchase.
The only exception is insulin - which will not require a prescription from January 1, 2011 forward. Other currently eligible OTC items that are not medicines or drugs, such as bandages, will not require a prescription. Your Benny card can continue to be used for these purchases.
You can still access the BAS System for Benefits and Flexible Spending Information. Use the ID and password you selected during Online Enrollment.
FSA Enhancements
You have until March 15 of the following year to incur eligible expenses for the current Plan Year. While this does not eliminate the use-it-or-lose-it rule completely, you have a great advantage to avoid forfeiting unused funds. If you have a balance remaining in your Health, Dependent Care, and/or Mass Transit FSA account as of December 31, you can use those funds for eligible expenses incurred from January 1 through March 15 of the following year.
For the 2011 Plan Year, you have until March 15, 2012 to incur eligible expenses. If you have enrolled in both 2011 and 2012, any qualified expenses incurred between Jan 1, 2012 to March 15, 2012 will automatically pull from 2011 funds left over first until that account is exhausted. Expenses incurred prior to Jan 1, 2012 must be paid out of plan year 2011 funds only.
For 2011 plan year funds, you have until March 31, 2012 to submit claims for eligible expenses you incurred through March 15, 2012.
Deadline for submitting eligible expenses to Your FSA at Employees Benefits Council:
The deadline for submitting claims for eligible expenses remains the same as previous years. You have until March 31, 2012; following the end of the Plan Year to submit claims for eligible expenses you incurred through March 15, 2011.
The Health Care FSA maximum contribution for 2012 is $5,000.
Weekly deadline change: Effective October 1, 2010 claims must be received by Friday at 1:00 p.m. for payment by the following Friday.
You can find a detailed cost and savings calculator provided at MyBenny.com or at the EBC site www.ebc.ok.gov
Medical Spending Account
The Medical Spending Account provides tax-free reimbursement of eligible expenses such as copays, deductibles, coinsurance, etc., that are NOT covered by your health, dental or vision plan.
The health care reform legislation signed into law by the President impacts over-the-counter (OTC) purchases with Health Care Flexible Spending Accounts beginning in January of 2012. OTC drugs, medicines and biologicals remain eligible, but only with a letter of medical necessity from a medical provider.
Our debit card provider will be updating the eligible products criteria to reflect movement of these items from the “Eligible” to “Non-Eligible” category. NOTE: Because these items now require a doctor’s directive, these items can no longer be purchased by the debit card program; however, they could be reimbursed by filing a paper claim with a doctor’s letter of medical necessity.
Daycare Spending Account
The Daycare Spending Account allows you to pay for childcare and dependent elder care expenses, that enables you (and your spouse) to work, with tax-free dollars.
Mass Transit Spending Account
The Mass Transit Spending Account allows you to be reimbursed for monthly bus passes. The monthly maximum for 2012 will be $115.00 ($1,380 annually).