I elected to contribute $100 per month or $1,200 for the plan year into a medical expense FSA. If I have $100 in my account in September, but incur a $300 expense, how much can I be reimbursed?
• In this example, your medical expense FSA will reimburse you the full $300. With a medical expense FSA, you are eligible to receive up to your election amount beginning the first day of your plan year. In other words, you do not need to have contributed your full election in order to use your full election amount.
Related Questions
- I elected to contribute $100 per month or $1,200 for the calendar year into a healthcare FSA. If I have $100 in my account in January, but incur a $300 expense, how much can I be reimbursed?
- Can an individual who is not covered by a high-deductible health plan HDHP for the whole year contribute the maximum annual limit established by the IRS?
- What happens to any medical FSA or dependent care FSA money that is not reimbursed at the end of the plan year grace period?
