Health Fund$ Jeopardy

Eligible Expenses

100

What can DCAs be used for?

DCAs are to be used on eligible dependent care expenses, such as daycare, preschool and summer camp.

200

Can I use my FSA to buy sunscreen? 

Potentially qualifying expense, requires a prescription. 

300

Can I use my HSA for copays?

Self-managed account, ultimately up to the member. According to IRS guidelines, yes they can. 

Contributions

100

When do I get my FSA money?

Front-loaded at the beginning of the year. 

200

When will a AB member receive their employer HSA contributions?

AB employer contributions are distributed as a lump sum in the beginning of the year

300

What is the DCA maximum contribution for a SpaceX family?

$5,000

Acronyms

100

Define FSA, HSA, and DCA

Flexible Spending Account 

Health Savings Account

Dependent Care Account

200

What does IRS stand for?

Internal Revenue Services

300

What does LPHRA stand for?

Limited purpose health reimbursement account

Account Rules

100

Do I get to keep my HSA money at the end of the year?

Yes, this is member's money to keep. 

200

How long can a SpaceX member use their 2017 FSA funds for?

Grace period 3/15, runout period 3/31

300

Can I change my DCA elections?

Yes, can be changed in chance of qualifying event. This decision is made my Benefits team.