Frequently asked questions – products and services ways to make extra money payflex

A health care FSA helps you pay for eligible out-of-pocket medical, dental, vision, hearing and prescription drug expenses for you, your spouse and your tax dependents. Out-of-pocket expenses are those not covered by insurance or any ways to make extra money other plan. These include deductibles, coinsurance, co-pays, and over-the-counter (OTC) items. Keep in mind; you’ll need a prescription for an OTC drug or medicine ways to make extra money to be considered an eligible expense. OTC items like bandages, hot/cold packs, thermometers, first aid kits or home diagnostic tests are eligible without ways to make extra money a prescription.

A dependent care FSA helps you pay for eligible child ways to make extra money or adult day care expenses. These include day care, before- and after-school programs, nursery school or preschool, summer day camp and adult day care. These expenses are so that you and, if married, your spouse can work, look for work or attend school full-time. The care must be for your child under age 13, or for a spouse or dependent who isn’t able to take care of him or herself and ways to make extra money who lives with you at least half of the year.

A limited purpose FSA generally helps you pay for eligible ways to make extra money dental and vision expenses. Eligible expenses may also include prescriptions and OTC items for ways to make extra money dental and vision care. A limited purpose FSA may also cover other health care ways to make extra money expenses after you meet your deductible. You can enroll in a limited purpose FSA if you ways to make extra money have a health savings account (HSA). A limited purpose FSA can help you save your HSA ways to make extra money funds for the future.

• if the claim that caused the overpayment has gone through ways to make extra money your medical or dental plan, you should have received an explanation of benefits (EOB). Fax, mail or upload that EOB along with a copy of ways to make extra money the explanation of payment (EOP) notice. The EOB will show the date of service, a description of the service and the amount you have ways to make extra money to pay for the claim. This will show us if the amount in question was ways to make extra money for an eligible expense.

• if the EOB shows that you paid more than you ways to make extra money should have, you can substitute another eligible expense for the overpayment amount. Fax, mail or upload the EOB along with a completed claim ways to make extra money form for that other expense. If you don’t have an EOB, you can use an itemized receipt. The receipt must show the date of purchase or service; the amount you’re required to pay; a description of the item or service; and the name of the merchant or provider. You must have incurred this expense in the same plan ways to make extra money year. The amount of this expense would have to be equal ways to make extra money to or greater than the overpayment amount. You must not have already received reimbursement for this expense.

• monthly payment option (auto pay) – if your plan allows, you can set up auto pay for recurring monthly reimbursements. To do this you must include a copy of the ways to make extra money orthodontia contract or agreement* with your first claim form. Make sure to check the box to set up automatic ways to make extra money monthly reimbursements. Once we process the first claim, we’ll automatically reimburse you each month, based on your agreement. You don’t have to submit a claim form for each visit. We use the agreement to set the monthly amount that ways to make extra money you’ll receive from your FSA. This automatic reimbursement will be in place for the length ways to make extra money of the agreement. You just need to be enrolled in the FSA and ways to make extra money have funds available. You’ll receive the monthly payments on or about the due ways to make extra money date stated in your agreement.

• total payment option – if your plan offers this option, you can receive reimbursement for the full amount if that’s what you paid. We’ll reimburse you up to your FSA election amount, minus any previous FSA payments. If you have sent in other claims, make sure to check your FSA balance. You can do this online. This will let you know how much you have available.

• if you’re covered under an HDHP on december 1, then the last-month rule applies. This means that if you’re covered on december 1 you can contribute to your ways to make extra money HSA as if you were covered under the HDHP all ways to make extra money year. If you do make a full-year contribution you must remain covered under an HDHP for ways to make extra money a total of 13 months. This means you have the HDHP for the rest of ways to make extra money december and all of the next calendar year. If you don’t have HDHP coverage for the 13-month period, you’ll be taxed on what you contribute for the months ways to make extra money you weren’t eligible. You may also have to pay a 10% tax penalty.

Example: you have an HDHP starting on may 1, 2019. You still have the HDHP coverage on december 1, 2019. You contribute up to the contribution limit for 2019. However, at some point in 2020 you’re no longer covered under an HDHP. You’ll have to pay income taxes on the amount for ways to make extra money those months in 2019 that you weren’t actually eligible. In this example that would be for the months of ways to make extra money january through april 2019. You would also have to pay a 10% tax penalty on that amount.

• if you have an HDHP for part of the year ways to make extra money but not on december 1, then the proration rule applies. You can only contribute for the months that you’re eligible. To prorate your contribution, first divide the annual contribution limit by 12. This will give you the monthly contribution limit. Multiply the monthly amount by the number of months you ways to make extra money were covered under the HDHP. Note: eligibility is based on being covered under the HDHP on ways to make extra money the first day of each month.

RELATED POSTS