Healthcare Flexible Spending Account (FSA)
This page provides information on the Healthcare Flexible Spending Account (FSA). Information includes what is a FSA, what are eligible expenses, and how to use your FSA.
Who Can Participate? All Employees
Maximum Annual Contribution: $2,850/calendar year with a maximum $570 carryover and minimum $10 rollover
Account Overview: You can set aside money from your pay, pre-tax, and use it for medical, dental, and vision expenses any time during the plan year. Eligible expenses include medical, dental, or vision costs such as plan deductibles, copays, coinsurance amounts, and other non-covered healthcare costs for you and your tax dependents. You don’t have to enroll in one of our medical plans to participate in the healthcare FSA. See the below for more information on how to access your FSA account. A minimum balance of $10 is required to rollover funds to the following year. Beginning 01/01/2023 you can rollover up to $570 of your previous year’s FSA unused balance from one calendar year to another. All other unused funds are use it or lose it.
What is a Flexible Spending Account (FSA)?
A Flexible Spending Account (FSA) is an employer-sponsored benefit that allows you to set aside pre-tax dollars into an account to be used for eligible medical, dental, and vision expenses. An FSA covers eligible expenses for you and all of your dependents, even if you and/or your dependents are not covered under your primary health plan. You can watch this short video on FSAs for a general overview. Use the Tax Savings Calculator to see what your tax savings could be with an FSA.
Understanding Eligible Expenses for Reimbursement
Expenses such as health plan co-pays, deductibles, co-insurance, eyeglasses, dental care, and certain medical supplies are covered. The IRS provides specific guidelines regarding eligible expenses (see IRS Publication 502). You can check the eligibility of items by viewing the FSA Eligibility List. You can purchase eligible items on the FSA store. (Links are included below in the references too.)
Using Your FSA
The easiest way to pay for an FSA eligible expense is to use your FSA Benefits Debit Card. Simply swipe it at the register and keep your receipt should claim documentation be required. Visit the Debit Card Registration webpage for information on how to get started with your FSA Debit card. Otherwise, you can file a claim through the MySmartCare online portal or mobile app, or by mail, fax, or e-mail (including the receipt documenting the service type, amount, and date). Once approved, your reimbursement check will be mailed or you will receive a direct deposit into your designated bank account. For instructions on how to file a claim, visit the Submit a Claim webpage.
Important FSA Information
- All eligible medical expenses must occur before the end of the calendar year
- You have until March 15th of the next calendar year to submit approved receipts or eles you will lose the funds
- Elections cannot be changed during the plan year, unless you have a qualified change in family status
- FSA funds can be used for you, your spouse, and your tax dependents only
- Claim forms may be found on your SmartCare portal
- Your FSA account stops on the last day of active employment. You will have 60 days from termination to submit receipts for eligible expenses that occurred during your employment.
- Each Open Enrollment, you must take action to elect your annual contribution amount for your FSA for the next year. Your previous year election will NOT rollover.
BCC is the third-party administrator for all FSA accounts
Phone: (800) 685-6100
Email: [email protected]
Customer Service Center Hours
Monday - Thursday: 5:00am - 5:00pm PT
Friday: 5:00am - 3:00pm PT
The Call Center can assist with questions regarding account balance, claim status, substantiation, debit cards, check reimbursement, eligible expenses, My SmartCare registration, and other general FSA questions.
Yes, with a doctor's prescription. You will need to submit a claim with the receipt for the OTC medication along with the prescription from your doctor that includes the diagnosis and course of treatment in order to receive reimbursement.
You can check your balance through MySmartCare, your online portal or mobile app FSA management tool, or by calling BCC's Customer Service Center at (800) 685-6100. Once you register with MySmartCare, you will receive monthly balance reminders.
You can access MySmartCare by visiting: mywealthcareonline.com/bccsmartcare/
Your entire annual amount is available on the first day of the Plan Year, even though you have not yet contributed.
To replace your debit card, call BCC at (800) 685-6100.
Be sure to only allocate dollars for predictable health care expenses. Unused funds below the rollover amount at the end of the Plan Year will be rolled into the following Plan Year. However, any unused funds above the rollover amount are forfeited under the "Use-It-or-Lose-It" IRS rules. The rollover amount may differ from each year. Please refer to the content above for the rollover amount.