Reimbursement Accounts - Important Considerations

Use the Reimbursement Account Estimator tools to help you make your choices.

Based on federal government and state plan rules:

• You must use any money you contribute to a Medical Reimbursement Account or a Dependent Care Reimbursement Account on expenses incurred by the end of the plan year.
  
  

  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.

  
  
• You must submit your claim by the deadline or your account balance will be forfeited.
• You cannot move money between the two accounts during the year. This means you can't use your contributions to a Medical Reimbursement Account for a dependent care expense or vice versa.
• You cannot change your Reimbursement Account contributions during the plan year unless you have a qualifying status change event.
• You cannot enroll in both a Medical Reimbursement Account and a Health Savings Account (HSA), although you can have a Limited Purpose Medical Reimbursement Account and an HSA.
  • If you enroll in a Health Investor medical plan, consider enrolling in the HSA to take advantage of the state's HSA contribution
  • If you need additional dollars for dental, vision, preventive medical or over-the-counter medical expenses not covered by the HSA, consider the Limited Purpose Medical Reimbursement Account. Remember, the HSA carriers forward year-to-year and earns interest.
• You cannot enroll in both a Medical Reimbursement Account and a Limited Purpose Medical Reimbursement Account.
• The minimum annual deduction amount for each Reimbursement Account is $60.