2011 Flexible Spending Accounts (FSAs)
Over-the-Counter Medicines & FSA Reimbursement
Starting January 1, 2011, Over-the-Counter Drugs/Medications must be prescribed by your medical-care provider if the cost is to be reimbursed from your FSA.
When requesting reimbursement for an Over-the-Counter Drug/Medication, you must submit:
- A fully-completed Request for Reimbursement Form;
- Provider's Written Directive that the item is "medically necessary";
- Purchase Receipt.
Examples of Over-the-Counter Drugs/Medications that will be affected:
- Cough, Cold & Flu Medicines; Anti-Itch, Sleep Aids; Pain Relief; Allergy Medicines; Acne
- Treatments; Antacids; Antidiarrheals; Stomach Remedies; Motion Sickness Remedies.
- The ONLY exception is insulin, which will not require a prescription.
Items that will remain eligible without a prescription include, but are not limited to, band aids, birth control, braces & supports, contact lens solutions & supplies, elastic bandages & wraps, first aid supplies, and reading glasses.
If you have specific questions, please contact Fox&Fox at 559-797-1000 ext. 14.
Important: Please be conservative in your estimates when making your Flex Spending Account Elections for 2011. Remember, any unused funds in you Flex Spending Account cannot be returned to you.
FOX & FOX administers a number of pre-tax spending account programs for clients nationwide. An overview of our Flexible Benefit Programs is as follows:
Medical Reimbursement Account
The Medical Reimbursement Account (MRA) allows participants to set aside pre-tax dollars to pay for expenses such as co-pays, co-insurance, deductibles, most prescriptions and many other expenses.
Expenses for your tax dependents qualify for the program, even if they are not covered under your employer's insurance program.
Dependent Care Spending Account
The Dependent Care Spending Account (DCAP) allows individuals to set aside pre-tax dollars to pay for out-of-pocket child care expenses for children under the age of 13. Additionally, if you have an older dependent who lives with you at least 8 hours each day and requires assistance with day-to-day living, you can claim these expenses through your dependent care spending account.
Pre-Tax Commuter Benefit Program
The Pre-Tax Commuter Benefit Program allows you to set aside pre-tax dollars to pay for out-of-pocket expenses for parking or mass transit/van pooling expenses incurred so that you can go to work.
Limited Purpose Flexible Spending Account
The Limited Purpose FSA works the same way a standard FSA does: pre-tax, "use it or lose it" elections, and expenses must occur within the plan year. The difference is that it limits what expenses are eligible for reimbursement. In a Limited Purpose FSA you can only submit claims for eligible vision and dental expenses