FIRST DISTRICT
RESA
FLEXIBLE SPENDING ACCOUNTS
What is an FSA?
An FSA is a tax-advantaged benefit plan whose funds are exempt from taxes. Your out-of-pocket health care expenses are eligible for reimbursement if the expenses are for medically necessary care or treatment incurred during the Plan Year. If you have dependents, your out-of-pocket expenses for their health care and treatments are eligible too!
What is Dependent Care Assistance?
A Dependent Care Assistance Plan (DCAP) is a tax-exempt benefit you can use to pay your out-of-pocket expenses for the custodial care of dependents claimed on your federal income tax return. Your account in the Plan is funded by tax-free dollars that you set aside from your paycheck in order to use as payment for eligible day care type services.
Plan Rules:
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Eligibility: Eligible employees as described on page 2 of this guide, spouse and tax dependent children (up to age 26;
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Coverage through Consolidated Admin Services
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Plan year is January 1 - December 31 and employees must re-enroll each year
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Only family status changes will allow you to change your annual election. The altered election must be consistent with the status change
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Married and not filing jointly participants limited to $2,500 deferral for Dependent Care
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Transfer of funds between the Dependent Care and Medical Care accounts are not allowed
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Contact Campus Benefits for assistance with claims.
Email: mybenefits@campusbenefits.com
Call 1-866-433-7661, option 5
What is covered under Medical FSA Account?
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Medical coinsurance and deductible
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Doctor’s office visit co-pays
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Emergency Room costs
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Dental co-pays and out-of-pocket costs
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Vision co-pays and out-of-pocket costs
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Contacts and Glasses
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Prescriptions
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Please see the full eligibility list for other covered expenses
IMPORTANT NOTES:
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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.
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Medical expenses for your dependent are not eligible for reimbursement under the Dependent Care account.
What is covered under Dependent Care Account?
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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).
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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:
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Pain relief medications, e.g., acetaminophen, ibuprofen, naproxen sodium
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Cold & flu medications
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Allergy medications
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Acne treatments
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Eye drops
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Stomach & digestive aids
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Pads, Tampons and Menstrual sponges
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Sleep aids
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Children’s pain relievers, allergy medicines, and digestive aids