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Health

PPO

HMO

Dental

Life Insurance

    

Medical Reimbursement Account

You can use the Medical Reimbursement Account to cover eligible healthcare expenses not covered by your health plan. When you do, you don’t pay federal income taxes on the money in your account.

You may set aside from $60 to $5,000 each plan year to cover eligible expenses during that year. The minimum annual deduction is $60. Your contributions come out of your pre-tax pay in equal installments each pay period. Use the Medical Reimbursement Account Estimator to help you evaluate the tax savings and decide whether to participate.
 

The Medical Reimbursement Account is available to you if you have a Standard PPO or HMO plan. If you have a Health Investor medical plan and a Health Savings Account, see the Limited Medical Reimbursement Account.

  

For the: You can use money set aside for expenses for care between: You must file your claims by:

2009 plan year

January 1, 2009 and March 15, 2010

April 15, 2010

2010 plan year

January 1, 2010 and March 15, 2011

April 15, 2011

 

Grace Period

FSAs have a "use it or lose it" policy, which means you forfeit any amounts unused and not reimbursed for services received during the Plan year. You may use what you set aside for the Plan year for services up to March 15 of the following year.

 

Eligible Expenses

IRS Publication 502 includes more information about eligible expenses.

Some Eligible Expenses Some Expenses Not Eligible

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

The IRS lists these non-eligible expenses:

  • Cosmetic procedures
  • Your contributions for outside health or life insurance
  • Employer health premiums of any kind
  • Procedures or expenses not medically necessary
  • Weight loss programs not prescribed by a doctor