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FSA Participant Guide
Learn more about your FSA with our FSA Participant Guide .
What Information is Required For Claim To Be Approved?
For Medical FSA Claims: In order for your claim to be in good order there is specific detail that is required. When submitting a claim be sure to include a receipt or Explanation of Benefits (EOB) with the following information: Date servic...
Are My Reimbursements From My FSA Limited to the Amount I Have Paid into the Plan?
Healthcare FSA s must adhere to the "uniform coverage" requirement. This means that a plan participant will have access to the entire elected amount from the very first day of participation during the plan year. The maximum amount of reim...
May I use my Medical FSA to Reimburse My Spouse’s Medical Expenses, Even If He/She is Enrolled in A Different Health Insurance Plan?
Yes, the FSA does not require that your dependents be covered under your health insurance plan. You can use your account to pay for eligible health care expenses for your family, regardless of the health insurance plan in which they are enrolled. ...
Do Orthodontic Services Have to Have Been Incurred to Be Eligible for Reimbursement from a Medical FSA?
No, they do not. Orthodontic expenses are reimbursed when actual payments have been made, even if the services have not yet been rendered. Orthodontic expenses typically are payable to the orthodontist at the onset of treatment or through an install...
What Happens If I Don’t Spend All of the FSA Money? Where Does It Go?
You will forfeit any money that remains in your account. Any excess funds are kept by the employer and can be used to offset the costs of administering the program. The IRS regulations require this, and do not allow employers to return the money to ...
I Just Received My Bill For a Service From Last Year, Can I submit A Claim for Reimbursement?
Expenses reimbursed under an FSA must be incurred during your period of coverage under that FSA. Expenses are treated as having been incurred when you are provided with the care or service, NOT when you are formally billed, charged or pay for the...
Does My Daycare Provider Need To Be Licensed To Use The Dependent Care FSA?
No, you can use the Dependent Care FSA to cover expenses for anyone who watches your children while you and your spouse are working. It can even be a family member, as long as that person is not your tax dependent. The provider must provide their So...
Can I Transfer Money From My Health Care FSA to My Dependent Care FSA?
No, you can use funds only for the purpose for which the election was initially made. IRS regulations do not allow funds to be transferred or commingled between accounts. So, the money in your Health Care FSA may only be used for health care expense...
Are Cosmetic Procedures Eligible?
Generally cosmetic procedures (such as Botox treatment, teeth whitening, etc.) are ineligible. However, if treatment is needed due to a medical condition, then the expense may be considered eligible. A letter will be required from a doctor stating t...
Is there a mobile app for my FSA?
Yes. If you are enrolled in a reimbursement account with Sentinel you can download an app to manage your accounts including: your reimbursement account balances, account activity and transaction details, text message alerts to your phone, and the ab...
How Long Do I Have To Submit My Claims?
Each plan has specific rules and deadlines for when claims can be submitted. You can find the claim submission deadlines by logging into your online account. On the Home page hover your cursor over the i (information) icon next to the plan name. The...
Who Is Considered A Dependent For My Medical FSA?
You are permitted to use your medical FSA plan to pay for eligible healthcare expenses for you and your eligible dependents. In general an eligible dependent is: Your Spouse Your dependent that you can claim on your tax return Your adult child(r...
What is the Run Out Period?
A run-out period is a timeframe in the new plan year during which you can file claims for expenses incurred in the previous plan year. This timeframe is established by your employer—not the IRS. While timeframes vary from employer to employe...
What is The Grace Period?
A grace period is a timeframe in the new plan year during which you can incur new expenses and file claims. This timeframe, established by your employer, is up to 2½ months after the end of the plan year. If your plan year ends on December ...
Will My Unused Funds Rollover?
If your plan does not offer a grace period your funds may rollover to the next plan year. This provision will be part of the plan rules established by your employer. The Rollover option lets you roll over up to $500 remaining in your accou...
What Tax Form Will I Receive For My FSA?
The funds in your Medical and Dependent Care FSA are deposited pre-tax and the amount is deducted from your Annual Gross Income. This will be represented on the W-2 you receive from your Employer for tax reporting. There are no additional tax forms...
What is an RMSA?
RMSA stands for Retirement Medical Savings Account. This plan may be offered by an employer and provides savings for healthcare costs in retirement. Plans are unique to each employer. For specifics on an RMSA offered by your company, contact ...
Health Savings Accounts
ALL your Health Savings Account questions answered Who is eligible to open an HSA? The main requirement for opening an HSA is having a high-deductible health plan that meets IRS guidelines for the annual deductible and out-of-pocket maximum. To ...
IRS Plan Limits
*Medical mileage reimbursement for 2023: .22 cents per mile. ...