Flexible Spending Accounts (FSA)
Reduce your out-of-pocket expenses with an FSA!
IRS Expands Mid-Year Change Opportunities for FSA PlansNew guidance has been issued by the IRS to permitting mid-year change opportunities for FSA participants for the remainder of 2020. Employees may elect to participate, increase, or decrease their election(s) under the Health Care and Dependent Care FSA without having a qualifying event, as long as the election is applied prospectively. For more information, please visit the FSA Mid-year Change Opportunities website.
Optum Bank is the plan administrator for the Flexible Spending Account (FSA) plan. An FSA is an IRS tax-favored account, you can use for eligible out-of-pocket expenses. You determine how much money you want to contribute to the account(s) for the calendar year. That amount is taken out of your paycheck in equal installments and placed in the account(s) you elect. Optum will issue an Optum Bank Debit MasterCard® after your enrollment is processed. You may use the card to pay for eligible health care and dependent care expenses, or you may submit claims by fax, mail, online at the Optum website, or through the Optum mobile app. Go to the Optum website to learn more about the FSA accounts and debit card.
An Open Enrollment period for the Flexible Spending Account plan is held annually. Unlike the health and dental insurance, employees who wish to participate in this program must re-enroll during each Open Enrollment period.
What types of FSAs are available?
FCPS offers two types:
- Dependent Day Care FSA
- Health Care FSA
Dependent Care FSA
You may use this FSA to claim reimbursement for eligible day care expenses for your child under age 13, or for a spouse/eligible dependents who are unable to care for themselves. The day care expense must be incurred so that you (and your spouse, if applicable) can work or attend school. View the list of Dependent Day Care FSA Eligible Expenses.
|Minimum Annual Election||$250|
|Maximum Annual Election||$5,000 for single or married filing jointly, and $2,500 for married filing separately.|
Health Care FSA
You and your eligible dependents’ medical, dental, and vision expenses that are not fully covered by insurance can generally be reimbursed through this FSA. You do not need to be enrolled in an FCPS health plan to enroll in the Health Care FSA. View the list of Health Care FSA eligible expenses.
|Minimum Annual Election||$250|
|Maximum Annual Election||
For 2020: $2,700. If both you and your spouse are employed by FCPS you may each set aside $2,700.
|Health Care Maximum Carryover Amount*||$500|
*Participants in the Health Care Flexible Spending Account (FSA) are able to carryover $500 in unused funds to the following plan year. The rollover provision does not apply to the Dependent Day Care Account.
How to Enroll
To participate, you must enroll within 30 days of your hire date, within 30 days of a qualifying event, or during Open Enrollment (every fall). During Open Enrollment, you will elect to participate via UConnect. You must re-enroll each year. Outside of open enrollment, submit Form HR-135 within 30 days of your hire date or qualifying event.
When you enroll, you designate the amount of money you want to contribute to the account(s) for the calendar year (not school year). That amount is taken out of your paycheck in equal installments and placed in the account(s) you elect. Be sure to plan your election carefully, as you could forfeit any amounts not expended. Since the FSA plan is a tax favored account, you cannot cancel or change your election after you enroll unless you have a qualifying event.
After Optum has processed your enrollment, you will receive your Optum Bank Debit MasterCard®. To view your account balances, or to submit claims or supporting documentation, you should and you will register at Optum for your Optum Bank FSA account.
You may use the Optum Bank Debit MasterCard® to pay for eligible health care expenses. You may also use the Optum Bank debit Mastercard to pay for dependent day care expenses if your provider accepts Mastercard. Optum may require documentation to approve your debit card transaction, so remember to keep your receipts with date, description of service, provider, amount paid, and name of the individual who received the service. If you must substantiate your claim, Optum will notify you by email or letter.
If you choose to not use Mastercard, you may submit a claim to Optum for reimbursement by fax, mail, online at the Optum website, or through the Optum mobile app. Claims are processed daily, and Optum deposits your reimbursement into the account you designate. Reimbursements are made via direct deposit, so be sure to set up your Optum Bank FSA account and designate the bank account to which your reimbursement will occur.
Claims must be incurred (i.e. services received) during your period of enrollment and prior to the end of the calendar year. You have 90 days from the end of the calendar year to submit claims for reimbursement. Any money, in excess of the $500 of unused carryover Health Care FSA funds, left in your FSA after the 90-day period will be forfeited and cannot be returned to you.