Healthcare FSA


Whose Expenses Are Eligible	You can use your healthcare FSA to reimburse eligible healthcare expenses incurred for: you, the eligible employee, persons you claim as dependents on your federal tax return (whether or not they are eligible for, or covered by, any of the corporation's healthcare plans), and dependent children who do not live with you, if you are legally required to pay their healthcare expenses. You may not use a Healthcare FSA for your former spouse's expenses. If you have a domestic partner, you may use a Healthcare FSA to reimburse yourself for your partner's eligible expenses only if he or she is your tax dependent.
How the Healthcare FSA Works	You set aside money from your paycheck on a pre-tax basis (thereby reducing your taxable income) to pay for eligible healthcare expenses incurred by you and/or your eligible family members. After you enroll in the Healthcare FSA, you will receive an FSA Debit Card. You can pay for your eligible expenses with the Debit Card, or you can submit a claim that is reimbursed from your account. Your Healthcare FSA claim for eligible expenses is paid in full—up to the amount of your annual healthcare contribution—regardless of how much you have in your Healthcare FSA at the time you submit your claim. You have until March 15 of the following year to incur expenses. If you haven't incurred enough eligible expenses to use up the money remaining in your Healthcare FSA, you forfeit that money. You have until May 31 to submit claims for eligible expenses incurred through March 15. You may only be reimbursed for healthcare expenses incurred while you are contributing to the Healthcare FSA.
How Much You Can Contribute	You can set aside up to $5,000 per full calendar year in the Healthcare FSA (with an annual minimum of $100). Your contributions are automatically deducted from your pay on a pre-tax basis and redirected into your account in equal amounts throughout the year. If you begin participating midway through the calendar year, the amount you can contribute will be prorated. For example, if you do not open an account until July 1, you should elect to contribute only $2,500 (half of the $5,000 allowed per full calendar year) over the remaining half of the year.
Filing Claims	You have until May 31 of the following calendar year to submit claims for expenses incurred during the current calendar year. Claim forms are available: at www.wageworks.com on the Human Resources Portal of The McGraw-Hill Companies Intranet, from the Forms page, and from WageWorks at 1-877-924-3967.
Continuing Participation	If your participation in the Healthcare FSA ends (for example, if your employment ends), you may be eligible to continue making contributions to the FSA on an after-tax basis through the end of the calendar year under the provisions of COBRA.