If you had a Healthcare FSA balance remaining at the end of 2020, you can continue to use this amount to pay for health expenses from last year. Your remaining balance, including anything above the $550 rollover maximum, has been transferred to your Optum Financial account and can be used towards 2020 health expenses. The deadline for 2020 claims is 60 days after the end of the outbreak or March 31, 2022—whichever comes first. Submit your claims for reimbursement through the Optum Financial website.
Healthcare Flexible Spending Account
Note: Extension to submit 2020 claims for reimbursement.
The basics.
The Healthcare Flexible Spending Account (FSA), administered through Optum Financial, allows you to set aside pre-tax dollars from each paycheck to pay out-of-pocket healthcare expenses. A Healthcare FSA does not come with a Medical Option or seed dollars from JetBlue. You can elect a Healthcare FSA if you’re enrolled in the Green Option or if you’ve waived JetBlue Medical.
Features of a Healthcare FSA.
Features of a Healthcare FSA.
- Seed dollars from JetBlue: There are no seed dollars with a Healthcare FSA; only you can contribute money to your account.
- Contribute your own money: You elect to contribute pre-tax income from your paycheck to your account (you save money by not paying any taxes on the amount you contribute to your FSA).
- Available funds: Your full FSA election amount is available immediately once the account is opened.
- Ability to earn Healthy Rewards: You can earn Healthy Rewards if you also enroll in the Green Option or are a Pilot who has waived JetBlue Medical, but the dollars do not go into your Healthcare FSA. If you enroll in the Green Option, dollars are deposited into your HRA. If you enroll in the Blue Option, dollars are deposited into your HSA. If you are a Pilot who waived JetBlue Medical, dollars are deposited into a Healthy Rewards Account.
- Eligible expenses: You can use the money in your Healthcare FSA on eligible healthcare expenses.
- Enrollment required: This account does not come with a Medical Option; you must actively elect to participate each year when you enroll for benefits during the annual Open Enrollment, or when you enroll as the result of a Qualified Life Event.
- Auto-Enrollment: If you were enrolled in a Healthcare FSA in 2021 and do not elect a Healthcare FSA in 2022, your balance of $25 or more (up to $550 for 2021 accounts) will roll over into a Healthcare FSA in 2022. However, you will forfeit the balance if you elect the Blue Option during Open Enrollment.
- No coverage needed: You can have a Healthcare FSA even if you don’t enroll in JetBlue Medical.
- HSA limitation: You can’t have a Healthcare FSA if you have an HSA through the Blue Option.
- Changes: You can’t change your contribution amount during the year unless you have a Qualified Life Event.
- All of the money stays in your account each year: No. You can only carry forward up to $550 of unused dollars in your account into the next year (for 2021 accounts). Up to $550 will still carry forward even if you do not enroll in a Healthcare FSA the next year. For 2022 accounts, you can carry forward up to $570 of unused dollars in your account.
How it works.
How it works.
1. You elect your Healthcare FSA contribution.
When you enroll in a Healthcare FSA, you choose the amount you want to contribute to your account for the year. This annual contribution will be divided into equal amounts that will be deducted pre-tax from each paycheck.
You can’t change your contribution amount until the next Open Enrollment period unless you have a Qualified Life Event. You must enroll and elect your contribution every year—your participation doesn’t roll over year after year. The amount you contribute to your account can’t exceed the IRS annual limit.
2022 IRS annual Healthcare FSA limits:
- Minimum of $25
- Maximum of $2,850
2. You choose how to use FSA dollars.
You decide how to spend your FSA dollars on eligible expenses. Some eligible expenses include:
- Deductibles, copays, coinsurance, prescriptions and charges that exceed plan limits.
- Services such as chiropractor visits, hearing exams, orthodontia, laser eye surgery and physical therapy.
You can find a full list of eligible expenses here or by going Optum Financial.
3. Using your FSA dollars.
You can use money from your Healthcare FSA to be reimbursed for expenses for yourself, your spouse and your children (under age 26 at the end of your tax year), and any tax dependents regardless of whether they’re enrolled in JetBlue Medical. It’s easy to access your Healthcare FSA funds by using your payment card. You may also submit a request for reimbursement through Optum Financial at www.connectyourcare.com/jetblue or on the mobile app. Remember to keep all of your receipts just in case you need them.
4. Up to $570 will roll over each year ($550 for 2021 accounts).
If you don’t spend all of the money in your Healthcare FSA by the end of 2022, you can still carry over up to $570 in your account to use toward 2023 expenses. You will lose any unused dollars over $570. It’s important that you estimate your contribution carefully when you enroll in a Healthcare FSA so you can avoid losing money. Claims for 2022 expenses for your Healthcare FSA can be submitted until March 31, 2023.
If you enroll in the Blue Option for 2023, any unused dollars in your Healthcare FSA after March 31, 2023, will be forfeited.
Check out these resources to learn more about your Healthcare Flexible Spending Account.
Check out these resources to learn more about your Healthcare Flexible Spending Account.
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Compare the Health Accounts side by side.
Check out the Compare Health Accounts page to see a side-by-side comparison of the Health Accounts JetBlue offers to help you save money on expenses.
