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Is my spouse eligible for reimbursement through my health care flexible spending if he is not coverd under my insurance?
Wiki User
∙ 14y ago
Your HSA is completely separate from your health insurance. You need to call your insurance agent to check and see if you can be reimbursed for things bought or paid for in regards to your spouse. You should also check the declarations page in order to see if he is listed as a named insured.
Wiki User
∙ 14y ago
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What do the employee benefits consist of?
It depends on the employer and the size of the company.The benefits can include medical and dental insurance,life insurance,disability insurance,tuition reimbursement,flexible medical spending account,401k and paid vacation days.
What is the name for reimbursement accounts for qualified medical and childcare expenses?
What is the name for reimbursement accounts for qualified medical and child care expenses? A. cafeteria plans. B. deferred compensation plans. C. option plans. D. flexible spending accounts. d
How To Choose The Right Amount To Set Aside In A Flexible Spending Account?
One of the best deals going in tax savings (and possibly the one that most fail to take advantage of) is the flexible spending account. This is the account offered through most employers that allows individuals to set pre-tax money aside to pay for medical expenses incurred throughout the year. One of the trickier features of the flexible spending account is the 'use it or lose it' provision. This means that any money in the account at the end of the year that doesn't get spent gets forfeited. Therefore, it's very important to understand your planned medical expenses for the year so you don't lose any money unnecessarily. The best way to be prepared and choose exactly the right amount to contribute to your account is to understand what types of expenses are eligible for reimbursement. The good news is that there are many expenses that are eligible. Major expenses like surgeries, child birth and hospital stays are obviously eligible but it's the list of minor expenses that are eligible that makes the flexible spending account really a great tool. Expenses such as birth control pills, contact lenses, aspirin and other over the counter drugs, flu shots, immunizations, physical exams and smoking cessation programs are all eligible. Estimate how much you plan on spending during the year on any flexible spending eligible expenses. Ideally, you don't want to contribute any more to the account than you plan on spending for the year so developing a reasonably close estimate will be crucial. Most plans require you to submit all eligible expenses to your employer by the end of the year in order to qualify for reimbursement but some will allow you to submit expenses through the first quarter of the following year. Be sure to check with your employer for reimbursement deadlines, account sign up procedures and how to submit an eligible expense.
Which type of health insurance plan has a use-it-or-lose-it feature?
flexible spending account
Is the cost of my spouse's insurance premium reimbursable through my flexible spending account?
Yeah, the cost simply reimbursable through your flexible spending account. I guess that that's just reality
What can I spend with my flexible spending account?
You can only pay for medical expenses with your flexible spending account. You can pay for x-rays, prescriptions, doctors visits, hospital visits, and eye visits. Your company should have a list of all eligible expenses.
What does FSA eligible mean?
FSA Flexible Spending Account: A voluntary plan set up with your employer to withhold a portion of your paycheck, pretax, to pay for approved health care expenses
Is there a loophole in the flexible spending account?
Hi. This is a very general question but let me try to answer: There are several things that you absolutely need to keep in mind when opening a flexible spending account: 1. The plan year - you must spend out everything you set aside during the plan year - there is no loophole that allows you to bend this rule 2. Eligible expenses - make sure you know exactly what you can spend money on. They are also very strict about this. 3. Receipts necessary - even if you spend during the plan year on eligible expenses, you can be turned down for reimbursement if you lack the necessary receipts. 4. People who are covered - also make sure you know who in your household is covered. Usually this is pretty straightforward and again, no loopholes.
Is it possible to get an individual Flexible Spending Account FSA as an independent contractor 1099?
An independent contractor can get a Flexible Spending Account (FSA) if they meet the qualifications to have an FSA. They must be covered under a high deductible health insurance plan and have no other health coverage. They can not be enrolled in Medicare or be claimed as a dependent on anyone's taxes.
Can you have an Flexible spending account if you are on Medicare?
yes
Will a flexible spending accounts help build credit?
No
Do you owe taxes on unused flexible spending dollars?
no
