A medical FSA makes it easy to save funds to use for eligible healthcare expenses that are not covered by insurance.
Your entire FSA or L-FSA contribution is available at the beginning of the plan year. You get a debit card to use for qualified expenses. B You will still need to keep itemized receipts and explanation of benefits (EOBs) from your eligible expenses in case the flex benefits administrator needs for you to provide substantiation for a debit card purchase (IRS rules).
Your medical FSA funds can be used by you and:
- Your spouse
- Your child (up to age 26), and/or
- Your tax dependent who is permanently and totally disabled