Healthcare FSA

• You are eligible for participate in an FSA if you participate in the Anthem PPO plan
• You can use pre-tax dollars to pay for office visits, co-pays, prescriptions, prescription glasses and dental work.
• You may direct up to $3,050 per year to your Healthcare FSA.
• If you elect the Basic consumer medical plan, you may only use the FSA for vision and dental expenses until after the annual deductible for medical has been met.  Then, it can also be used for medical expenses.
• Eligible Health Care Expenses typically include medical and dental plan deductibles, orthodontic expenses, eye exams, hearing exams, medical equipment, and charges that exceed reasonable and customary limits.

Dependent Care FSA

•  You are eligible to open a Dependent FSA regardless of what other benefits you elect
• You may direct up to $5,000 per year to your Dependent Care
• Eligible Dependent Care Expenses include baby-sitters, qualified day care, or nurse at home. A dependent is considered to be: under age 13, or someone physically or mentally incapable of caring for him or herself.

Considerations

• Only a limited amount of unused funds in an FSA is permitted to roll over to the next plan year. Amounts beyond the limit will be forfeited.
• Your contribution amount remains in effect all year. Adjustments are only allowed if you experience a Qualified Life Event.
• You cannot transfer money between a Healthcare and Dependent Care FSA. The accounts are separate and used for specified purposes.