The Flexible Spending Accounts (Medical Expense Account and Dependent Care Account) section allows you to enter a tax-deferred amount that you can use to pay for your pharmacy, dental, vision, and approved over-the-counter expenses that are not covered by your insurance, or any other plan, or dependent day care expenses. You can use the Flexible Spending Accounts even if you waived all coverage for yourself.
Note: The maximum contribution for Medical Expense is $2,500 per year. The maximum contribution for Dependent Care is $5,000 per year. Covered health expenses will automatically be paid out of your Health Reimbursement Account (HRA) first if enrolled in one of the CDH health plans.
Medical Expense Amount - This is a voluntary pre-tax deduction which allows you to set aside an amount you determine for unreimbursed dental, vision, pharmacy, and over-the-counter medicines (IRS rules for over-the-counter expenses require a prescription for OTC medicines) for the employee and eligible dependents. Be very conservative with this amount because the HRA will automatically pay covered health expenses first. If the HRA is exhausted, the FSA Medical Expense Account will reimburse covered health expenses.
Step 1 - Enter an amount (if desired) in the Medical Expense Amount field. The minimum amount is $10.00. The maximum amount is $96.15.
Dependent Care Account - This is a voluntary pre-tax deduction, which allows you to set aside an amount you determine for children age 13 and under or adult day care expenses.
Step 2 - Enter an amount (if desired) in the Dependent Care Amount field. The minimum amount is $10.00. The maximum amount is $192.50
Step 3 - Proceed to Waiving Coverage for Your Dependents to waive coverage for your dependents or to claim no dependents or proceed to Selecting Coverage for Your Dependents to select coverage for your dependents.