Blue Cross and Blue Shield of Florida
Blue Cross and Blue Shield of Florida

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Flexible Spending Account (FSA)

More and more employers are offering their employees a Health Care and/or Dependent Care Flexible Spending Account (FSA). The FSA allows employees to proactively set aside their own pre-tax dollars to cover eligible expenses that may not be covered by your client's health plan. Your client will enjoy the online, self-service features we offer to their employees, which reduce the administrative burden of managing the accounts.

An employee's entire Health Care FSA annual contribution amount is available to him or her at the beginning of the plan year. The amount in a Dependent Care FSA is available at any time during the year, and is equal to the related payroll deductions an employee has made to date, less reimbursements already made during the year.

Regardless of the type of FSA, services must be rendered prior to being reimbursed.

There's no minimum check reimbursement amount, so when an employee incurs an expense of any amount, he or she simply submits a signed Health Expense or Dependent Care Reimbursement Request Form along with the appropriate documentation. Also, for the Health Care FSA, the employer can choose to offer the convenience of a debit card to access funds or automatic reimbursement of covered medical and prescription claims.

Unless a carryover feature has been added to the FSA program, contributions made to an FSA will not rollover from year to year, so employees should be encouraged to plan carefully, so they can use the entire amount.

Additional Features:

Account Management, 24/7:
Through MyBlueServiceSM, an employee can view his or her account balance, reimbursement history and status, and get answers to frequently asked questions. Employees simply click on the "FSA and/or HRA" button once they've logged on.

Access to Care Support Programs:
There are a number of programs to support informed, cost-effective decision-making. Dialog CenterSM, operated and maintained by Health Dialog®, and Hospital Performance Information, offered by Subimo®, are just two programs we provide to help employees make the right health care decisions for their personal needs. Availability is dependent on the health plan your client selects.

Discounts and Expanded Choices:
Another option we offer to help employees manage their health care expenses is Blue365®. This program offers discounts on special services that aren't typically covered by a health plan. Employees can save on eye wear and care, LASIK surgery, hearing aids, alternative medicine, fitness club memberships and more.

Health Reimbursement Account:
Your client also may choose to offer employees an employer-funded Health Reimbursement Account (HRA). For employees who participate in both an HRA and a Health Care FSA, administered by BCBSF or its subsidiary Florida Combined Life Insurance Company, Inc., eligible medical expenses are reimbursed from the FSA first, since FSA contributions do not roll over at the end of the plan year.

Premium Conversion Plan:
Another popular offering is the Premium Conversion Plan. With this plan, your client can offer employees the opportunity to pay their portion of premiums for insured benefits on a pre-tax basis. As with an FSA plan, the premiums paid through a Premium Conversion Plan are deducted from the employees' pay before their taxes are calculated, thereby reducing the amount of taxes they pay.

For more information:

A full description of the FSA is provided in the summary plan description provided to employers.

Health Reimbursement Accounts (HRAs) and Flexible Spending Accounts (FSAs) are not insurance programs but financial reimbursement plans. Blue Cross and Blue Shield of Florida, Inc. (BCBSF), through its subsidiaries, Florida Combined Insurance Agency and Florida Combined Life Insurance Company, Inc., provides only administrative services for these programs and is not liable for any account balances. These programs reimburse qualified medical and daycare expenses as defined in the employer's plan document. The employer's HRA and FSA plan document terms prevail over any inconsistencies in any verbal, written, or electronic information provided by BCBSF.

Generally, the pronouns "our," "we" and "us" used throughout are intended to refer collectively to Blue Cross and Blue Shield of Florida, Inc. and its subsidiaries and affiliates. However, where appropriate, the content may identify a particular company; there, any pronouns refer to that specific entity.

Florida Combined Life Insurance Company, Inc. (FCL) is an affiliate of Blue Cross and Blue Shield of Florida, Inc. (BCBSF). BCBSF and FCL are Independent Licensees of the Blue Cross and Blue Shield Association.

SAL PPS FSA 001 082007a