Medical Reimbursement Account
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You can use the Medical Reimbursement Account to cover eligible
healthcare expenses not covered by your health plan. When you do,
you dont 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.
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2009 plan year
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January 1, 2009 and March 15, 2010
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April 15, 2010
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2010 plan year
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January 1, 2010 and March 15, 2011
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April 15, 2011
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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 health premiums of any kind
- Procedures or expenses not medically necessary
- Weight loss programs not prescribed by a doctor
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