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FLEXIBLE SPENDING ACCOUNT


Flexible Spending Account

A Health Care Flexible Spending Account (FSA) lets you set aside part of your paycheck to pay you back for future health care or dependent care expenses. You decide how much to contribute to the account. 

The portion of your paycheck you put into your FSA is taken out before you pay federal income taxes, Social Security taxes, and most state taxes. 

How can I use the money?

The Internal Revenue Code specifies how your health care FSA funds can be used. Approved expenses include medical, dental, and vision products, and services performed by medical professionals to diagnose, treat, or prevent diseases for you and your family.

You may be able to use your FSA to pay for expenses like:

  • Co-payments
  • Co-insurance
  • Deductibles
  • Prescriptions

You may also be able to use your FSA to pay for more medical expenses not covered by your health plan, like:

  • Dental care/orthodontia
  • Eye exams
  • Hearing aids
  • Laser eye surgery
  • Nicotine gum or patches/smoking cessation programs
  • Vision care products such as glasses and contact lenses

You can also use FSA funds for other items such as:

  • Alternative drugs and medicines
  • Exercise equipment and programs
  • Even vitamins when they are prescribed by your physician

The City provides an FSA spending card so that you pay in real time for most expenses. Your debit card is a simple and convenient way to use your FSA money. It can be used at doctors’ offices, medical facilities, dental and vision centers, and pharmacies.

Tips for Using Your Debit Card:

  • Always check your account balance to see how much money is in your FSA before you use your card
  • If your expense is more than the balance on your FSA debit card, you can split it between two payment methods.
  • Tell the person at checkout how much to apply to your FSA debit card
  • Pay the remaining amount with another form of payment
  • When paying at the cash register you can select credit or debit
  • You will receive a PIN when you get your debit card.
  • This card cannot be used to withdraw cash at an ATM and cannot be used to get cash back
  • Save your receipts, as you may need to confirm that your purchase was eligible

Beginning Your FSA   

If you don't currently use this benefit, you need to watch the FSA Facts Video

You can find all the FSA answers in one place at your FSA website

See the FSA Quick Start Guide 

FSA_Plan_Year_Extension 

This new important feature now operating in your Flexible Spending Account (‘FSA’) helps you: 

  1. Extend your FSA account beyond the traditional ‘use it or lose it’ arrangement 
  2. Make better use of your money in the FSA, and 
  3. More closely set your FSA contribution each year. 

Manage Your FSA at highmarkbcbswv.com   

First-time users must register for an ID and password Go to the Spending tab to: 

  • Check your balance 
  • Review the complete list of eligible expenses under Covered Expenses 
  • Review your debit card payment