Transcript Healthcare Spending Account

Healthcare
Spending Accounts
Use it or lose it!
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What is a Healthcare
Spending Account?
Per the IRS, guidelines are:
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Pre-tax savings account to pay for medical
expenses (pre-federal, state, SS & Medicare
taxes)
Date of service determines which year’s
account will be charged
Strict list of items eligible for reimbursement
Use it or Lose it!
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How much may I contribute?
CMH allows:
Between $100 and $5000
Withholding is based on # of paychecks
remaining in the year (24 max)
You may start, stop or change only
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At hire
During Open Enrollment
If you have a Qualifying Event
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What expenses qualify for an HCSA?
Established by the IRS
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Acupuncture
Alcoholism treatment program
Ambulance
Artificial limbs
Artificial teeth
Birth control pills
Braille books/magazines (extra cost)
Car modification for disability
Childbirth classes (mother)
Chiropractic care
Christian Science practitioners
Co-insurance charges
Contact lenses/supplies
Crutches
Deductibles and co-pays
Dental treatment
Eyeglasses
Hearing aids and batteries
Hospital Fees
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Laboratory fees
Laser eye surgery
Massage therapy (within limits)
Medical services by a licenses provider
Mileage ($.19/mile in 2011)
Nursing home charges
Operations
Optometry
Optical care
Organ transplants
Orthodontics
Osteopathic treatment
Oxygen
Physical exams
Prescription drug co-pays
Prescription vitamins (treating a deficiency)
Prosthesis
Psychiatric care
Radial Keratotomy
Sterilizations
Xrays
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Are there some over-the-counter
items that qualify?
Yes, but only with a
prescription by your
doctor as being medically
necessary
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Allergy Medicine
Antacids
Anti-diarrhea medicine
Bandages
Cold medicine
Cold/hot packs for injuries
Condoms
Cough drops
Eye drops
First aid kits
Gauze pads
Hemorrhoid medications
Incontinence supplies
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Laxatives
Motion-sickness medications
Nasal spray
Nicotine gum or patches
Ointments for muscle pain
Ointments for first aid
Pain relief medications
Pre-natal vitamins
Pregnancy test kits
Reading glasses
Rubbing alcohol
Sinus Medicine
Suppositories
Thermometer
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How do I get money from the account?
You have three primary ways to collect money
from the Healthcare Spending Account:
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2.
3.
Benny card
Automatic reimbursement
Submit by mail or fax
The next three slides will explain each
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How does a Benny Card work?
A Benny Card has these features:
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Looks like a credit card
Works like a debit card (declining balance)
Your full annual balance is loaded onto the card
Rather than paying a co-pay ($20, $40, $50, etc),
you can have that payment come straight out of
your Spending Account via the Benny Card
Save all healthcare receipts (even when using the
Benny Card)
How does Automatic
Reimbursement work?
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You must use UMR for your medical and/or
dental ins. for Automatic Reimbursement to work
At the time of generating a co-pay (doctor’s
office, pharmacy, emergency department), you
would make your payment to them at that time
When UMR processes the claim, they will
electronically notify the Healthcare Spending
Account department to issue you a check to
refund you for each co-pay
How do I submit Healthcare Spending
Account expenses for reimbursement?
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Shoebox method: Referring to the practice of
“saving” all eligible receipts during the year
and submitting for reimbursement.
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You may submit for reimbursement once a
year or as often as you wish.
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Claim forms are in the Forms & Documents
tab of www.cmmfhealthydecisions.com
What dates affect my reimbursements?
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You have until next March 31st to submit this
year’s receipts
The date of service, date of treatment and
date of purchase will determine which year to
claim is applied to. For example, paying for
eyeglasses on December 31st will count as
current year while paying on January 2nd for
eyeglasses will count toward the “new” year.
Do NOT use the Benny Card in January for
the previous year’s claims