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There are two types of accounts available - Health Care Expense Reimbursement and Dependent Care Expense Reimbursement.
Health Care Expense Reimbursement - expenses for health care that are not covered by insurance or reimbursed by any other plan. For example, office visits and prescription copays, dental expenses, prescription eyeglasses, contacts, and chiropractic care. The maximum benefit is determined by your employer. This plan covers expenses for you, your spouse, and dependents. The 1040 tax return allows deduction only for expenses that exceed 7.5% of your income. Most often, individuals do not qualify for any medical expense to be deducted. Reimbursement is based on the amount of the expense incurred, up to the annual elected amount.
To learn more about our Section 125 Flexible Benefit Plans, view the PDF information available or contact our Marketing Department.
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