Flex Spending Account Reminders

Now that we're well into 2008, here are some tips to help you make the most of the pre-tax dollars in your Health Care Spending Account (HCSA) or Dependent Care Advantage Account (DCAA).

The following apply to both HCSA and DCAA:

1) New employees can submit a change in status application within 60 days of their start date. This change will benefit employees who don't receive their new employee orientation in a timely fashion.

2) Employees can now submit change in status applications on-line instead of via paper. The application is at http://flexspend.state.ny.us/. 

Health Care Spending Account

1) Orthodontia costs that are paid on a monthly payment plan are reimbursed after each monthly payment is due. However, if you pre-pay the entire cost of orthodontia treatment up front, you will only be reimbursed in a particular plan year for the value of the services that will be provided during that plan year.

2) The mileage allowance for transportation to obtain medically necessary health care was reduced from $0.20 to $0.19 by the IRS effective 1/1/08.

3) A list of over-the-counter drugs and supplies eligible for reimbursement under the HCSA is available here.

4) Remember that the total amount you set aside for the year is available at any time, you don't have to wait for the cash to accumulate in your account before you can use it.

Dependent Care Advantage Account

1) Employees who leave state service can continue submitting receipts for reimbursement of eligible expenses to their  Dependent Care Advantage Accounts until their funds are exhausted.

2) If you submit a receipt for more money than you have in your DCAAccount, the balance will be paid automatically when the funds are deposited from your next payroll deduction.