Medical Reimbursement Account
You can use the Medical Reimbursement Account to cover eligible healthcare
expenses not covered by your health plan.
You may set aside from $60 to $5,000 in 2008 to cover eligible expenses
during the year. Your contributions come out of your check in equal installments
each pay period.
Minimum annual deduction amount for the Medical Reimbursement Account
is $60.
Eligible Expenses
IRS
Publication 502 includes more information about eligible expenses.
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Money can be set aside for:
- Deductibles
- Copayments
- Dental and vision care expenses
- Orthodontia not covered by a dental plan
- Prescription drugs
- Over-the-counter medications
- Chiropractic visits
- Saline solution and contact lens cleaners
- Procedures or expenses that are medically necessary
- Doctor prescribed weight loss programs
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The IRS lists these non-eligible expenses:
- Cosmetic procedures
- Your contributions for outside health or life insurance
- Employer medical premiums of any kind
- Procedures or expenses not medically necessary
- Weight loss programs not prescribed by a doctor
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