Personal Risk Services Flexible Spending Accounts __________________________________________ Union College September 6, 2005 A Closer Look At Flexible Spending Accounts (FSA’s) What is an FSA? F lexible S pending A ccount
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Flexible Spending Accounts
September 6, 2005
Flexible Spending Accounts (FSA’s)
In an FSA
In an FSA
In an FSA?
Weight loss programs
Health Club fees…swimming lessons
Cost of food, clothing and tuition
Cost of babysitting fees by local teenage
Cost of transportation to place where dependent care is givenExamples of Ineligible Expenses(Section 105)
July 1, 2005
The FSA allows
(over-the-counter medicines & products)
Cold medications (children/adult)Examples of acceptableOTC’s
Soaps & lotionsExamples of non-acceptableOTC’s
If there is a medical, dental, or vision claim, the ARM claims system will automatically pay to you any co-pay or co-insurance amounts.
This is done in a weekly “sweep”. Checks are run bi-weekly.
If the claims are co-pays for Rx expense or an OTC, a claim form with receipt must be submitted for reimbursement.
- the provider is unable to bill ARM directly
- the expense is for Rx
- the expense is for OTC items
Forms can be obtained from our website at www.adventistrisk.org or from your HR dept.Claim Forms