Using your Flexible Spending Account
April 23, 2020
The State of Idaho Office of Group Insurance (OGI) has recently received a lot of questions related to the Medical Flexible Spending Accounts (FSAs), timelines, and options for spending down account balances in light of the COVID-19 pandemic. Due to changes in the healthcare environment, many individuals who had planned and set aside Medical FSA dollars for elective surgeries, dental visits and other expenditures during plan year 2020 are no longer able to complete these procedures as anticipated.
Unless specifically directed by a federal mandate, the plan year for flexible spending will NOT change, and will still end on June 30, 2020. However, participants who are currently enrolled for Medical FSA will still have the ability to rollover up to $500 of their Medical FSA to the next plan year, if desired.
To support those wishing to spend down Medical FSA balances within this plan year, our FSA provider (Navia Benefit Solutions) has an online store available within the member portal where individuals currently enrolled in Medical FSA can access and purchase FSA-eligible items from the comfort of their own homes.
Visit the Navia Member Portal at https://idaho.naviabenefits.com to shop from the thousands of available items related to personal care, home medical, first aid, pain relief, everyday health and more.
Additionally, through recently enacted provisions within the 2020 CARES Act, FSA plans are now able to reimburse additional health-related medications and products. Visit https://ogi.idaho.gov/more-reimbursable-items-for-medical-fsa/ for more information.
As you plan for the rest of your FSA dollars, and with our 2021 benefits open enrollment period right around the corner, here are some helpful reminders about 2020 Medical FSA deadlines:
- Expenditures during 2020 plan year must occur between July 1, 2019 and June 30, 2020.
- All claims for Medical FSA reimbursement for the 2020 plan year must be submitted by October 31, 2020
- If you have a Medical FSA balance after all reimbursement claims are submitted, your balance (up to $500) will rollover to the 2021 plan year as of November 1, 2020.
Additional information and enrollment forms for FY21 will be sent out over the next week during the benefits open enrollment period.
For more information about Flexible Spending Accounts, and how to access your Navia member portal, visit https://ogi.idaho.gov/flexible-spending-accounts/. If you have additional questions related to FSA or other benefits, please contact email@example.com.