Medical Reimbursement Account

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.

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.

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.