What are Flex Spending Accounts (Optional Reimbursement Plans)?
Optional Reimbursement Plans (also known as Flex Spending Accounts) offer an employee the ability to defer pretax earnings into a spending account to pay out-of-pockets costs for family medical and dependent daycare expenses. How can I find out the balance of my Optional Reimbursement Account? Visiting Flex Connect will provide you with this information. Medical Care Spending Account – Eligible expenses include, but are not limited to, annual deductible, co-payments, amounts remaining after the plan has paid benefits, orthodontia expenses, hearing aids and exams, travel to and from your doctor’s office, and any other medical expenses (except health care premiums) that could be deducted for you and your dependents on your Federal income tax return. Dependent Daycare Spending Account – Eligible expenses include most non-educational, non-medical daycare costs incurred through the use of a licensed daycare center or babysitters’ services inside or outside the home. Eligible dependents incl
Related Questions
- Can HSAs be combined with other employer-sponsored health plans like Flexible Spending Accounts (FSA), Health Reimbursement Arrangements (HRA) or Cafeteria Benefit Plans (Sec 125 plans)?
- Are flexible spending accounts or cafeteria plans covered under HIPAA?
- What are Flex Spending Accounts (Optional Reimbursement Plans)?
