About Flexible Spending Accounts.

You have two Flexible Spending Accounts (FSAs) in which you can participate. You can enroll in one or both accounts each year. Keep in mind, if you elect medical coverage under the Blue Plan, you cannot fund a Healthcare FSA since you’ll have a Health Savings Account.

Both the Healthcare FSA and Dependent Care FSA let you set aside pre-tax dollars from each paycheck to pay for out-of-pocket healthcare and dependent daycare expenses, respectively. Since you do not pay federal income or Social Security taxes on your FSA contributions, you save money on taxes.

Optum makes it convenient to access your FSA funds. Just pay out of pocket and request a reimbursement online or through the Health Advantage mobile app. With your Healthcare FSA, you can also use your Optum Mastercard at the point-of-sale.

How FSAs work.

1. Contribute to a Healthcare FSA and/or Dependent Care FSA.

With a Healthcare FSA … With a Dependent Care FSA …
You can contribute annually up to $2,650 (min. $100). You can contribute annually up to $5,000 (min. $100) or $2,500, if married and filing taxes separately.
IMPORTANT: You can carry forward up to $500 in your Healthcare FSA to be used toward 2018 expenses; however, you have until December 31, 2018 to incur expenses in your Dependent Care FSA or you’ll lose any remaining balance. Claims for 2018 expenses for both FSAs can be submitted until March 31, 2019.

2. Use your contributions during the year to pay eligible expenses.

Eligible expenses for a Healthcare FSA include … Eligible expenses for a Dependent Care FSA include …
Fees such as deductibles, copays, coinsurance, prescriptions and charges that exceed plan limits.
Services such as chiropractor visits, hearing exams, orthodontia, laser eye surgery and physical therapy.
Daycare expenses for your children under age 13 and for your mentally or physically disabled dependents of any age so you can work or attend school full-time, including:

  • Babysitters or companions, including relatives over age 19 whom you do not claim as tax exemptions who care for your dependents.
  • Education expenses, such as nursery school, for children not yet in kindergarten.
  • Day camp expenses.
NOTE: You can use money from your Healthcare FSA to reimburse expenses for yourself, your spouse and your children (under age 26), regardless of whether they’re enrolled in a JetBlue Medical Plan.

3. Get reimbursed for expenses.

With a Healthcare FSA … With a Dependent Care FSA …
To be reimbursed for eligible healthcare expenses, you can use the convenient Optum Mastercard (remember to hold all receipts in case you are asked to provide them). You may also submit a request for reimbursement online using the Health Advantage website, through the mobile app for Apple and Android devices, or by mailing a paper claim form. Debit cards are not available for the Dependent Care FSA. To be reimbursed for eligible dependent care expenses, pay out-of-pocket, then submit an online claim or mail a paper claim, along with an itemized statement that includes the dependent’s age and the daycare provider’s taxpayer identification number. With Dependent Care claims, you must have enough money in your account to pay your claim before you are reimbursed for eligible expenses.

Need something?

Visit optumhealthfinancial.com or call 1-866-529-1675 to contact Optum.