Pre-Tax Savings Accounts – HSA and Health Care FSA Eligible Expense Changes
Eligible expenses for Health Savings Accounts (HSA) and Health Care Flexible Spending Accounts (FSA) were permanently changed by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to allow the following items to be reimbursed pre-tax:
- Over-the-counter (OTC) drugs and medicines not prescribed by a doctor (aspirin, cough medicine, decongestants, etc.)
- Menstrual care products (pads, liners, tampons, etc.)
These eligible expense changes are retroactive effective January 1, 2020. ConnectYourCare is working to update their resources and debit card settings to reflect these changes.
- If you purchase OTC medications and menstrual care products in the near future, you will likely need to submit a reimbursement request. It may take several weeks for ConnectYourCare’s debit card system to be completely updated.
- Retroactive reimbursement requests must be submitted manually via the member portal or mobile app.
Dependent Day Care Account Elections
The IRS released new guidelines regarding Dependent Day Care Account election changes in response to the COVID-19 outbreak. You may be eligible to increase or decrease your 2020 election if you experience one of the following election change events:
- Change of daycare provider
- Cost of care changes (unless care provider is a relative)
- Need for care changes due to a job change or change of work hours
- Qualifying life event
You have 30 days from the date of the election change event to submit an Election Change Request Form. Please contact your employer payroll and benefits office for more information on how to request an election change.
Questions? Please email payrollandbenefits@uwgb.edu