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Flexible Spending Accounts

Looking for ways to save on health care or dependent care costs?  You may be eligible to set up a Flexible Spending Account (FSA), using pre-tax dollars to pay qualifying medical or dependent care expenses.  Expenses could include daycare expenses, prescription costs, annual check up costs, regular blood work, medical deductibles, medical procedures (bone density scan, follow up MRI, planned surgery, eye glasses) and much more.   

Resources and Information:

• Flexible Spending Program, Employee Group Insurance Handbook (for a quick program overview)

• Flexible Spending Plan Contract (for more depth)

• FAQ’s (for Frequently Asked Questions about FSA’s)

• Flexible Spending Claim Form for Health Care and/or Dependent Care Expenses

• Decision Support Tools, Blue Cross of Idaho, WellConnected (for online tools that may help you sort through your expenses)

How FSA's Work

Participation in flexible spending accounts is voluntary.  If you participate, you decide how much money to place in your account each year durng the plan year. The IRS requires all funds be used in your flexible spending account during the designated plan year or they are lost or "forfeited" to the plan. Hence it is important not to put more money into your account than you know you will use in that plan year (refer to the Employee Group Insurance Handbook for plan year information).

Things To Keep In Mind

You do not have to participate in a flexible spending account every year; you may opt in or out of an FSA account every year at Open Enrollment.  The amount you choose to contribute will probably vary each year you participate.  To learn more about flexible spending accounts and qualified healthcare expenses, ask the Office of Group Insurance (ogi@adm.idaho.gov or 208-332-01860 or 800-531-0597), talk with your accountant, or visit the IRS website and search for 'flexible spending programs'.  Always keep receipts of qualified expenses throughout the plan year.

A Flexible Spending Account might be for you.  Open enrollment for the upcoming fiscal year usually occurs in May.