1. Your benefits plan includes a fixed amount of money available to you and your family for eligible healthcare expenses. Consult your benefits booklet, claims app or website, or Plan Administrator for the amount.
2. When you incur an eligible healthcare expense you can claim it as a ‘withdrawal” from your Health Spending Account. As long as a balance sufficient to cover a claim remains in the account, you are reimbursed for that claim.
3. As you use your Health Spending Account through the year, your “balance” will decline – until it is “replenished” on January 1
4. Depending upon how your benefits plan is set up, you may be able to use your entire balance at the beginning of the year – or you may have to accumulate funds each month through the year. Consult your Plan Administrator to determine which plan type you have.