Healthcare Spending Accounts

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Nov 14, 2013 (3 years and 9 months ago)

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Healthcare
Spending Accounts

Use it or lose it!


1

1

What is a Healthcare
Spending Account?

Per the IRS, guidelines are:


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!

2

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


At hire


During Open Enrollment


If you have a Qualifying Event

3

What expenses qualify for an HCSA?

Established by the IRS



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





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



4

Are there some over
-
the
-
counter
items that qualify?

Yes, but only with a
prescription by your
doctor as being medically
necessary


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


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

5

How do I get money from the account?

You have three primary ways to collect money
from the Healthcare Spending Account:


1.
Benny card

2.
Automatic reimbursement

3.
Submit by mail or fax


The next three slides will explain each

6

How does a Benny Card work?

A Benny Card has these features:


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?


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?


Shoebox method: Referring to the practice of
“saving” all eligible receipts during the year
and submitting for reimbursement.



You may submit for reimbursement once a
year or as often as you wish.



Claim forms are in the Forms & Documents
tab of
www.cmmfhealthydecisions.com


What dates affect my reimbursements?


You have until next March 31
st

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 31
st

will count as
current year while paying on January 2
nd

for
eyeglasses will count toward the “new” year.


Do NOT use the Benny Card in January for
the previous year’s claims