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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.

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Plan Rules:

  • Eligibility: All full-time employees working 20+ hours/week, spouse and tax dependent children (up to age 26)

  • Dependent care is for childcare for children up to age 13 and adults for adult care

  • Coverage provided by MedCom

  • Plan Year: January 1 - December 31

  • Only family status changes will allow you to change 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 the Dependent Care and Medical Care accounts are not allowed

  • The chart below is a sample of covered services. Please visit fsasstore.com for more information. 

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Medcom Website Link: CLICK HERE

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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.

What is covered under Medical FSA Account?

  • Medical coinsurance and deductible

  • Doctor’s office visit co-pays

  • Emergency Room costs

  • Dental co-pays and out-of-pocket costs

  • Vision co-pays and out-of-pocket costs

  • Contacts and Glasses

  • Prescriptions

  • Please see the full eligibility list for other covered expenses

Who is covered under Dependent Care Account?

  • Children up to age 13 (including stepchildren, grandchildren, adopted or foster children, and children related to you who are eligible for a tax exemption on your federal tax return).

  • Tax dependents residing with you and incapable of self-care (this could include your spouse, a child age 13 and over, and elderly parents).

The CARES Act permanently reinstates over-the counter products, and adds menstrual care products for the first time as eligible expenses for your FSA funds WITHOUT A PRESCRIPTION!

Eligible items for purchase without a prescription now include, but are not limited to:

  • Pain relief medications, e.g., acetaminophen, ibuprofen, naproxen sodium

  • Cold & flu medications

  • Allergy medications

  • Acne treatments

  • Eye drops

  • Stomach & digestive aids

  • Pads, Tampons and Menstrual sponges

  • Sleep aids

  • Children’s pain relievers, allergy medicines, and digestive aids

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