FAQs

 All (Displaying results 41-50 of 228)

Page 5 of 23, Showing 10 Results

• 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/produ… 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

• When was the LEX HCFSA carryover effective? Open Closed

  Carryover became effective with the 2015 benefit period, which began January 1, 2015. … Read more…the full answer

• Why was carryover selected to replace the grace period? Open Closed

  When surveyed by OPM, FSAFEDS participants preferred carryover, and OPM determined that carryover provided the best protection against forfeitures for most participants. Rather than only having 2 1/2 months to incur exp… Read more…the full answer

• Who is eligible for carryover? Open Closed

  To be eligible for carryover, participants must have enrolled during Open Season or as a new hire during the year and … Read more…the full answer

• How does carryover impact a LEX HCFSA? Open Closed

  The most significant change is that expenses reimbursed with carryover funds must be incurred between January 1 (or your effective date) and December 31 (or your separation date). In addition, you must reenroll each year to have access to any car… Read more…the full answer

• Does a carryover count against the $3,400 maximum I'm able to contribute to my LEX HCFSA next year? Open Closed

  Good news! No. You can still contribute up to $3,400 even if you carry over $680 from the previous plan year.… Read more…the full answer

• Can I elect not to have a carryover account? Open Closed

  All LEX HCFSA participants with a remaining balance who reenroll will be set up with a carryover account - it cannot be waived. You will still be able to be reimbursed from the carryover account for your prior year expenses as long as eligible exp… Read more…the full answer

• What type of expenses are eligible for reimbursement with funds that are carried over? Open Closed

  Carryover funds can be used for the same eligible dental, and vision expenses that are covered with your Limited Expense Health Care FSA. For a complete listing of eligible expenses, please refer to … Read more…the full answer