HSA
What is HSA?
What is Health savings account
What is HCFSA?
What is Health care flexible spending account
What is LPFSA
What is Limited purpose flexible spending account
What is DCFSA
What is Dependent care flexible spending account
What's another name for Transit savings account?
what is commuter reimbursement
Front loaded or back loaded?
What is Back Loaded
Do you have to be in or out of network for HCFSA?
HCFSA can be used in both.
Can you use LPFSA for medical expenses?
No you cannot. Dental and vision only.
What is the age cut off for a child without a disability for DCFSA?
up to age 13 they qualify for DCFSA
What can you use the commuter benefits for?
Answer public transportation, train, subways, buses, even parking passes
2 Plans that are HSA eligible?
What is CDHP & HDHP
Who's expenses can be paid with the HCFSA?
It can be used for your qualifying medical expenses and eligible dependents.
How is LPFSA funded?
During OE you chose the amount how much you want to be deducted from each check
True or False: Can my mother who has a disability and lives in the nursing home qualify for DCFSA?
False, dependent has to live in the household.
True or False: Transit savings account is front loaded
False, this account is back loaded
What is the purpose of HSA?
What is A savings account to help with eligible medical expenses.
EX: such as paying for prescriptions & copays.
What happens to my HCFSA if my employment ends?
deductions for your hcfsa will end when your employment end
What happened to my LPFSA when the plan year ends?
LPFSA is a use or lose it account.
DCFSA is front loaded? True or false?
False, It's a back loaded account
How much can I use per month with Transit savings account?
You can use up to $270
EE called in asking how they could put money into their HSA.
Elect at OE
EE called in to see if he can use his HCFSA to buy over the counter drugs, Can EE do this?
Yes, EE can use his HCFSA to buy over the counter drugs.
EE called in asking to have both HSA and LPFSA, can the EE do this?
Yes, EE can have both LPFSA and an HSA.
EE has her step daughter for spring break and needs to use her DCFSA for in-home daycare facility can EE do that if so, why? if not, why?
No, child has to live in the household and you can only use DCFSA for work related things.
EE called in to ask how to use his Transit savings account to get an uber. Can EE do this?
Yes, EE can use their prepaid mastercard to get an uber.