FAQs

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• Why should I use an FSA for health care expenses rather than deducting the expenses on my income tax return? Open Closed

  Medical expenses that exceed 10 percent of your adjusted gross income (AGI) can be deducted on your federal income tax form. However, FSAs are tax-free from the first dollar. You do not have to meet the 10 percent AGI minimum before receiving the… Read more…the full answer

• Are over-the-counter items (OTC) that include sunscreen as an ingredient considered eligible expenses? Open Closed

  Over-the-counter items that include SPF as an ingredient could be potentially eligible. To be considered eligible, the sunscreen component would need to be the primary function or purpose of the over-the-counter item. For potentially eligible expe… Read more…the full answer

• Are over-the-counter (OTC) menstrual care products eligible for reimbursements from my HCFSA? Open Closed

  The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law Friday, March 27, 2020. The CARES Act newly allows for the reimbursement of menstrual care products effective January 1, 2020. When you submit a c… Read more…the full answer

• What is a Limited Expense Health Care FSA? Open Closed

  A Limited Expense Health Care FSA (LEX HCFSA) is a flexible spending account option if you are enrolled in a Federal Employees Health Benefits (FEHB) high-deductible health plan (HDHP) and have a He… Read more…the full answer

• How does a LEX HCFSA save me money? Open Closed

  IRS rules do not allow you to contribute to a Health Savings Account (HSA) if you are covered by any non-qualifying health plan, including a general-purpose Health Care FSA. By limiting FSA reimb… Read more…the full answer

• Are all my dependents covered under a LEX HCFSA? Open Closed

  Yes, all dependents you claim or are eligible to claim on your federal income tax return, or on the return you jointly file with another are covered under your LEX HCFSA.… Read more…the full answer

• How much can I contribute to my LEX HCFSA Open Closed

  With a LEX HCFSA, you can set aside anywhere from a minimum of $100 up to $3,300 per benefit period (plan year). As with a Health Care FSA (HCFSA), the maximum annual allotment for a LEX HCFSA is $3,300 per covered employee, or $6,600 fo… Read more…the full answer

• When is my LEX HCFSA available and how do I know how much money is available? Open Closed

  This depends on when you enrolled in your LEX HCFSA. If you enrolled during Open Season, your account is available on the first day of the benefit period. If you are a new employee, your LEX HCFSA is activated once you've enrolled and your … Read more…the full answer

• What expenses are eligible under a LEX HCFSA? Open Closed

  A Limited Expense Health Care FSA (LEX HCFSA) can be used to pay for eligible dental and vision care services and products that meet the IRS definition of medical care. Eligible expenses include out-of-pocket costs for such services/product… Read more…the full answer

• My HSA covers dental and vision expenses, so why should I enroll in a LEX HCFSA too? Open Closed

  By establishing a LEX HCFSA, you can maximize your HSA savings by using pre-tax FSA dollars for eligible dental and vision expenses. This allows you to save your HSA funds for future health care expenses. … Read more…the full answer