FLEXIBLE SPENDING ACCOUNTS

What are Flexible Spending & Dependent Care Accounts?

  • Flexible Spending Accounts: A pre-tax benefit account used to pay for out-of-pocket healthcare costs such as deductibles, copays, prescribed medication, and some over the counter medications.

  • Dependent Care Accounts: A pre-tax benefit accounts used to pay for dependent care services, such as preschool, summer day camp, before or after school programs, and child or elder daycare.

Plan Rules:

  • Eligibility: Full-time employees working 20 or more hours per week, spouse, & children through age 26

  • Coverage through Medcom

  • Plan year is from July 1-June 30

  • Children eligible up to Age 13 for Dependent Care and up to Age 26 for Medical FSA

  • Dependent Care Funds used for daycare and available for tax dependent adults for adult care

  • Only family status changes will allow you to alter your annual election. The altered election must be consistent with the status change. 

  •  Married and not filing jointly participants limited to $2,500 deferral for Dependent Care.

  • Transfer of funds between Dependent Care and Unreimbursed Medical are prohibited.

  • $3.25 fee per participant per month

  • To access the Medcom website CLICK HERE

Contact Campus Benefits for assistance with claims.

Email: mybenefits@campusbenefits.com

Call 1-866-433-7661, option 5

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Important Note

Dependent Care FSA is for eligible expenses related to the care of your child, disabled spouse, elderly parent, or other dependent who is physically or mentally unable for self-care (i.e. day care, adult day care) or is disabled. Medical expenses for your dependent are not eligible for reimbursement under the Dependent Care.

Expenses Must Occur During the Plan Year

July 1-June 30

SUBSTANTIATION REQUIREMENTS FOR HEALTH FSA'S!

Always keep your receipts. Send them to Medcom ONLY when requested to substantiate your debit card transactions along with your receipt request letter. You will not be asked to substantiate debit card transactions that are co-payments or recurring expenses you have pre-registered with Medcom.

PLEASE REVIEW YOUR FSA BALANCE REGULARLY

 

Please verify your FSA balance as soon as possible. Continue to review your FSA balance and transaction history on a frequent basis by creating an account online at https://medcom.wealthcareportal.com or by downloading our free Mobile App through your App Store. Please report your card lost or stolen immediately if necessary to protect against fraud. You have 55 days from the date of the debit card transaction to report suspicious activity.

 

Please note for online registration: 

            Employee ID = Social Security Number (no dashes or spaces)

            Registration ID = FSA Debit Card Number

 

IMPORTANT REMINDERS ABOUT USING YOUR DEBIT CARD

  • The IRS regulates the rules applicable to FSA debit card use. We must abide by these rules and regulations;

  • All transactions made with your FSA debit card must be made as a Credit (not a Debit) transaction;

  • The card may only be used to pay your out-of-pocket expenses for eligible FSA medical items and services, based on your election amount; or eligible Dependent Care expenses based on your available account balance.

  • Your card is valid through the expiration date shown on the front of the your Debit Card. You will receive one card if you are enrolled in FSA or DCAP.

Should you have questions, Medcom’s Customer Service team is available Monday – Friday from 8:30am-5pm ET at (800) 523-7542 Option1.