There are two changes to Flexible Spending Accounts (FSAs) beginning January 1, 2011, that TWU Members need to be aware of:
The FSA debit card was deactivated on December 31, 2010. Whether you select the manual reimbursement option or the auto reimbursement option (when available), you may file claims via mail, fax or use the Express Claims service on PayFlex’s website.
As of January 1, 2011, most over-the-counter (OTC) medication purchased without a prescription will no longer be an eligible expense. The health care reform legislation passed earlier
this year has changed what expenses are eligible for reimbursement. Over-the-Counter (OTC) medicine such as acid controller, allergy, and cold medicines are not a Flexible Spending Account reimbursable item without a prescription beginning January 1, 2011.
If you have funds remaining in your account from the prior plan year, those funds will be used to reimburse you for eligible expenses incurred through March 15 during the Grace Period or until the funds are depleted, whichever occurs first. If you incur an expense during the Grace Period and that expense depletes your prior plan year’s FSA, but has still not been paid in full, any remaining balance will be applied towards your current plan year’s FSA. You will need to submit your claims via mail, fax, or through the online Express Claims service (which includes paper and fax claim options) before June 15, 2011.
If you have other expenses that you were planning to claim from your prior plan year’s FSA and prefer that a claim incurred during the current year be reimbursed from your current year’s FSA, contact PayFlex and ask that they adjust the claim back to your current year’s FSA account.
The deadline to submit claims for your prior plan year’s expenses is June 15. After this date, you can no longer receive reimbursement on your claims for the previous plan year and will loose any remaining balance. For more information on FSA refer to Jetnet benefits section and click on PayFlex.