To be reimbursed for out-of-pocket health care expenses from your 2021 Health Care Flexible Spending Account (FSA), you must incur eligible expenses by December 31, 2021. You must also submit and substantiate your expenses by March 31, 2022.
A Health Care FSA allows you to be reimbursed for certain out-of-pocket expenses with tax-free dollars. Since these are spending accounts, the money is intended to be spent. Eligible expenses include:
- Medical (post-deductible only if you are also enrolled in the HDHP and HSA)
- Dental
- Vision
How to Pay for Eligible Expenses
In most situations, you can use your payment card from the FSA administrator, Optum Financial, at the point of sale or service. Otherwise, you may pay for your eligible expenses with a personal credit card, a debit card, cash, or check.
How to Submit Eligible Expenses for Reimbursement
The most efficient way to submit your eligible expenses for reimbursement is electronically by using the Optum Financial mobile app, or website.
Remember to include the required IRS supporting documentation with your submission. Although, Optum Financial will contact you directly when additional information is needed. Failure to provide documentation when requested may require repayment. This is done by deducting money from your paycheck on an after-tax basis. Substantiate your claims by December 31, 2021, to avoid the repayment process.
Health Care FSA Carryover Reminder
Up to $550 of unused funds in a Health Care FSA will carry over from 2021 to 2022. This applies even if you did not enroll in a Health Care FSA for 2022. Unused funds greater than $550 will be forfeited.
For questions about your claims, eligible expenses, or your payment card, contact Optum Financial at (833) 881-8158.
For general information, review the UW System Employee Benefits FSA web page.
Source: UW System Human Resources