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FLEXIBLE SPENDING & DEPENDENT CARE

What are Medical Flexible (FSA) Accounts?

A pre-tax benefit account used to pay for out-of-pocket healthcare costs such as deductibles, co-pays, prescribed medication, and other medical costs.
What is Dependent Care Accounts?

A pre-tax benefit account used to pay for dependent care services such as preschool, summer day camp, before or after school programs and child or elder  daycare.

Plan Rules:

• Coverage through Medcom
• Plan year is from January 1- December 31 and employees must re-elect each year
• Only family status changes will allow you to change your annual election. The altered election must be consistent with the status change
• Married and not filing jointly participants limited to $2,500 deferral for Dependent Care
• Transfer of funds between the Dependent Care and Medical Care accounts are prohibited
• For a full list of eligible Flexible Spending Account expenses, please go to
www.medcom.net

 

Contact Campus Benefits for assistance with claims.

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What is covered under Medical FSA Account? 

  • Medical coinsurance and deductible

  • Doctor’s office visit copays

  • Emergency Room costs

  • Dental copays and out-of-pocket costs

  • Vision copays and out-of-pocket costs

  • Contacts and Glasses

  • Prescriptions

  • Please see the full eligibility list for other covered expenses

IMPORTANT NOTE: Dependent Care FSA is for eligible expenses related to the care of your child, disabled spouse, elderly parent, or other dependent who is physically or mentally unable for self-care (i.e. day care, adult day care) or is disabled. Medical expenses for your dependent are not eligible for reimbursement under the Dependent Care account.

Who is covered under a Dependent Care Account?

  • Children ages 12 and under (including stepchildren, grandchildren, adopted or foster children, and children related to you who are eligible for a tax exemption on your federal tax return).

  • Tax dependents residing with you and incapable of self-care (this could include your spouse, a child age 13 and over, and elderly parents).

The CARES Act permanently reinstates over-the counter products, and adds menstrual care products for the first time, as eligible expenses for your FSA funds WITHOUT A PRESCRIPTION!

Eligible items for purchase without a prescription now include, but are not limited to:

  • Pain relief medications, e.g., acetaminophen, ibuprofen, naproxen sodium

  • Cold & flu medications

  • Allergy medications

  • Acne treatments

  • Eye drops

  • Stomach & digestive aids

  • Pads, Tampons and Menstrual sponges

  • Sleep aids

  • Children’s pain relievers, allergy medicines, and digestive aids