Asuris Health Care Flexible Spending Account (HCFSA)
Live healthy, save creatively
An HCFSA from Asuris gives employers and employees alike a unique
way to maximize savings potential. It allows employees to save for annual
health care expenses on a tax-free basis; dollars saved can be used for a
variety of health expenses and services that aren't often covered by the
health plan.
The Asuris HCFSA allows your employees to save hundreds of
dollars each year and plan ahead for annual medical needs. Employees
are given control over how their health care dollars are spent, which
motivates them to seek value and make smarter health care choices.
Contributions are deducted from employee pay before federal, state or
Social Security taxes are withheld. This decreases your employees'
taxable income and reduces their overall taxes. Lower taxes bring
increased spending power.
How does an HCFSA work?
Using the Asuris HCFSA is easy—here's how it works:
- At the beginning of each year, the employee decides the total
yearly HCFSA contribution amount.
- Funds are contributed by the employee through regular payroll
deduction and placed into a special account.
- Employers may elect to provide employees with an HC FSA debit
card, which they can use for out-of-pocket qualified medical expenses. These
include copays, prescriptions and various other health-related expenses.
- If the plan has not been set up with a debit card, an employee
pays directly for qualifying expenses and then submits a claim
for reimbursement.
- A check for the claim amount is then mailed directly to the employee.
FSA funds not used by the end of the plan year cannot be rolled over to
the next year and will revert to the employer.
What expenses are covered?
Your Asuris FSA can be
used to pay for many different
expenses that may or may not be
covered by your regular health
plan. These include:
General health care expenses
- Copays and deductibles
- Pharmaceuticals
- Mental health services
Alternative care expenses
- Acupuncture, chiropractic or naturopathic care
- Massage therapy (requires provider note of medical necessity)
Dental expenses
- Dentures
- Orthodontia
- Oral surgery
- Dental deductibles and other fees
Over-the-counter items
- Antacids and acid-reducing medicines
- Allergy medications
- Anti-inflammatory drugs
- Cold and flu medications
- Contact lens care supplies
- Medicated creams, ointments and shampoos
- Pain relievers such as aspirin, ibuprofen or acetaminophen
- Smoking cessation patches and gums
- Weight loss drugs
Vision expenses
- Contact lenses and eyeglasses
- Laser eye surgery
- Prescription sunglasses
- Eye exams
For a complete list of qualified medical expenses, visit the IRS Web site's information about publication 502.
Healthy savings build healthy futures
The rising costs of health care
today demands innovative
solutions for both employers
and their employees. The
Asuris Health Care FSA
allows you to maximize saving
and control company costs
without compromising the
care your employees deserve.
Employees are motivated to
make wise health care choices
that will benefit them and the
health of your company.
Frequently asked questions
How much should employees
set aside?
The amount an employee chooses
to save in their HCFSA is based
on what they expect to spend on
health care expenses in a given
year. The employer determines
the plan year and the maximum
contribution amount an employee
may contribute to their HCFSA
account in that year. Account funds
can be used only in that plan year.
Any unused funds cannot be rolled
over to the next year.
Can contribution amounts
be changed?
The annual election amount cannot
be changed in a calendar year
unless the account-holder
experiences a qualified lifechanging
or status-changing event.
These include marriage, the birth
of a child, adoption or a change
in a spouse's employment status.
Qualified changes must be reported
within 30 days of the event.
Can the HCFSA be used for
a dependent's health care?
Employees and their legal
dependents are eligible to
participate in the Health Care
FSA program even if they do
not participate in your employersponsored
health plan.
What if employment is terminated?
If an employee changes jobs, they
can still request reimbursement for
any health care expenses incurred
prior to termination. This can be
done for up to three months after
the end of the plan year. Employees
who elect to continue participation
in the HCFSA under COBRA
coverage may continue to receive
reimbursement for their expenses.
Otherwise, any unused amount will
be forfeited. By electing COBRA
coverage, employees may also
continue to make deposits on an
after-tax basis.
