If you still have money remaining in your 2019 Health Care Flexible Spending Account (FSA), you still have time to spend it.
FSAs are regulated by the IRS, and the rules allow a grace period from January 1 to March 15, 2020 for you to incur eligible expenses and spend down any balance in your 2019 Health Care FSA. The IRS considers an expense to be “incurred” at the time you receive the care, service or product, not when you are billed or when you pay for the expense.
Eligible Health Care FSA Expenses
Here are 12 examples of eligible expenses to help you spend down your balance:
- Contact lens solution for vision-correcting lenses
- Ear Plugs
- First aid supplies—Examples include, but are not limited to: bandages, wraps, adhesives, cold or hot packs, gauze, joint supporters, splints, tape, and thermometer.
- Home diagnostic kits, tests—Examples include, but are not limited to: blood pressure monitors, cholesterol tests, colorectal screenings, and pregnancy tests.
- Life Alert Emergency Medical Alert System
- Mouth Guard: prescription and over-the-counter are eligible
- Nasal Strips to relieve snoring
- Neti Pot
- Pill cutters, pill box, pill organizers
- Reading glasses
- Sunscreen: The cost of an over-the-counter sunscreen product with SPF 15 or higher is an eligible medical expense.
These are just a few examples. Visit PayFlex for common eligible health care expenses.
Check Your Balance and Submit Claims
Here are steps you can take to help you make the most of your FSA.
- Check your 2019 FSA balance.
- Log in to your account on the PayFlex member website at www.payflex.com, or
- Use the PayFlex Mobile® app to see if you have a balance remaining in your 2019 FSA
- Spend your 2019 FSA balance by March 15, 2020.
- If you have a balance in your 2019 Health Care FSA, view the list of eligible health care expenses on the PayFlex website for ways you can spend it.
- Only eligible expenses incurred from your 2019 FSA effective date to March 15, 2020 can be claimed for reimbursement from your 2019 FSA.
- Submit Your 2019 FSA Claims for Reimbursement by May 31, 2020.
- When you incur an eligible expense during the grace period (January 1 to March 15, 2020) and submit a claim, PayFlex will first look to your 2019 FSA. If you have funds available, they will use those funds to pay the claim. Once you use the funds in your 2019 FSA, PayFlex will pay the claim from your 2020 FSA if you are enrolled. If you did not re-enroll in a 2020 FSA, PayFlex will pay the claim up to the balance in your 2019 FSA.
- Any unclaimed funds remaining in your 2019 FSA on June 1, 2020 will be forfeited. In accordance with Internal Revenue Code and supporting treasury regulations, the university uses forfeited funds to pay administration costs of the of the FSA program. In the alternative, forfeitures may also be used by the university to fund employee benefits administration costs, education and benefit election tools, MHealthy coaching and health initiatives, the Emergency Hardship Program, and university scholarship funds.
- Learn about several ways you can submit claims for reimbursement from your FSA.
Questions About Your Flexible Spending Account?
If you have questions about using your FSA, call PayFlex customer service at (877) 343-1346. Or connect to a PayFlex customer service agent almost instantly through their Live Chat feature. Agents are available to chat Monday - Friday, 8:00 a.m. - 6:00 p.m. (ET).
Find the "Chat Now" option on the PayFlex member website:
- Log in to the PayFlex member website, www.payflex.com.
- Select Help & Support at the top of the window.
- Then, select Contact Us.
- From that page, click Chat Now.