Flexible spending accounts (FSA) allow the employee to pay for payroll-deducted health insurance premiums with "before tax" dollars. We offer two flexible spending accounts: medical and dependent care. Participation in either program is optional.
FSA programs reduce the amount of federal, state, and social security withholding by deducting the premiums before taxes are calculated. Due to the tax advantages offered by these plans, strict IRS guidelines apply and participation in pre-tax is mandatory if enrolled in a health benefits plan. Check out detailed information from DHRM's flexible spending website.
Medical Care Reimbursement Account
This pre-tax deduction is designed for paying eligible medical, dental, and vision expenses not covered by health insurance. The initial election period is within 30 days following the date of eligible employment. If you do not enroll within this period, you must wait until the next open enrollment event or until you experience a qualifying mid-year event.
Medical FSA participants receive Anthem’s Elite VISA Benefit Card to use each plan year until the expiration date. The card is a convenient reimbursement option that allows Anthem to electronically reimburse eligible expenses. Swipe the card like you would with any other credit card and the amount of your eligible expenses will be automatically deducted from your Medical FSA. For prescription drug and over-the-counter medicine purchases, the card will only be accepted at IIAS certified merchants. To find out if a pharmacy or drugstore near you accepts the card, please refer to the IIAS Store List.
Dependent Care Reimbursement Account
This pre-tax deduction is for paying eligible child care or dependent self-care expenses so that you and your spouse can work or actively look for work. An employee is eligible to participate as of the first day of the month following the date of hire.