Have an FSA, Daycare and/or HRA?
Have a Flexible Spending Account (FSA), Dependent Care Account (DCA) and/or Health Reimbursement Account (HRA)? The Reimbursement Spending Account Comparison Chart compares the similarities and differences between FSA, DCA and HRA. Employees who have any of these accounts can visit the Ameriflex website to view account information including transactions, available balance, submit manual claims, and more.
What is a Medical Reimbursement FSA?
A Medical Reimbursement Account FSA (Medical FSA) is used to pay for certain types of out-of-pocket medical expenses not covered under an insurance plan such as:
- Calendar Year Deductibles (CYD)
- Dental and vision expenses
- Prescription drugs
- Some over-the-counter (OTC) items (a detailed list can be found on www.myameriflex.com)
How does a FSA save me money?
Federal, State, and FICA taxes are not taken out on the amount you contribute to your Medical FSA and/or Dependent Day Care Account.
How much can I contribute?
For Medical FSA’s, the maximum annual contribution allowed is $2,600. If your spouse also works for St. Johns County, you may both contribute to the FSA, up to the $2,600 annual limit.
How much should I contribute?
Everyone is different, so it’s important to know how much you anticipate spending on eligible expenses before you set your contribution amount.
Is the full election amount for my Medical FSA available for use on January 1st?
The entire annual election amount in your Medical FSA is available at the beginning of the plan year (Jan. 1), so you can use your FSA card or submit a claim before the regular contribution is withheld from your paycheck.
Will my current year’s FSA election automatically continue into the next plan year?
No. You must re-enroll during Annual Open Enrollment to participate. If you fail to complete your annual election for benefits during Annual Open Enrollment, your FSA will not be renewed for the next plan year.
Do I need to keep my receipts?
It is very important to keep all receipts for FSA expenses. You may receive a substantiation request from AmeriFlex either via email or postal mail. AmeriFlex is tightening their compliance to make sure all groups are fully substantiating based on the regulations already in place by the Affordable Care Act (ACA) law from 2009.
If I elect to continue participating in the FSAs, will I receive a new Ameriflex Convenience Card?
If you elect to participate in the FSAs for the next plan year, you will only receive a new debit card if your current card has expired or if you are a new FSA plan participant. If you participated in the FSA within the last few years and your card has not expired, your current debit card will be reloaded with your new annual election. If you enroll in more than one FSA account, the same card will be used for all accounts.
How can I get an additional Ameriflex Convenience Card for a spouse or dependent to use?
You can request additional cards for IRS eligible family members by calling Ameriflex at 888-868-3539 or completing a Request for Service Form. There is no fee for additional cards. Important Note: For your protection, only primary account holders may order replacement cards for themselves or their dependents who have previously been issued duplicate cards. Dependents may not order/reorder their own cards.
What is the "use-it or lose-it" rule?
Per IRS regulation, any funds left in your FSA at the end of the year are forfeited - this is frequently referred to as the "use-it or lose-it" rule. However, you are allowed to roll over a minimum of $75 up to a maximum of $500 of available funds to use in the following year. Rollover funds are used after the current year funds have been exhausted. Any prior year funds in excess of the rollover amount not used by December 31st will be forfeited.