Flexible Spending Accounts

Coweta County School System offers employees two Flexible Spending Accounts, the Medical FSA Account and the Dependent Child Care Account, which provide a way to pay for certain unreimbursed health care and dependent childcare expenses with tax-free dollars. You save money because these contributions are made before taxes are deducted. These dollars are then used to pay for eligible expenses.

For your convenience you are issued a Bank Card to use for most expenses in lieu of filing claims. The MedCom card eliminates the need for you to pay up front for qualified expenses and then wait for reimbursement from your Flexible Spending Accounts. Plus, you will be able to access your accounts on-line to check your balances and view a history of your personal transactions at www.emedcom.net .


New participants will receive a MedCom MBI MasterCard. If you are currently enrolled you WILL NOT receive a new card, your existing card will be reloaded with your new elections. Replacement cards and additional cards for spouse and/or adult children can be issued for a cost of $7.50, which will be deducted from your FSA account. Click Here for Replacement/Additional Card Request Form .

Note: Per IRS regulations the MedCom card cannot be used at supermarkets, grocery stores, discount stores and wholesale clubs, unless the merchant or vendor has implemented an inventory information approval system (bar code technology). Effective January 1, 2009 , all pharmacies must also have an inventory information approval system in place in order to accept the MedCom card. Click Here for More Information

Please note that you must use your MedCom Card as "CREDIT" not debit when purchasing qualifying expenses.

You are able to utilize the website www.drugstore.com for purchases of over the counter medications at a discount when you utilize your MedCom Card. You will not be required to save your receipts for the qualified purchases on this site for items marked as

Calendar Plan Year ...... You will need to estimate your expenses for a twelve month period (January through December) and an equal amount will be deducted from each paycheck, December through November.

Here's how it works:

•  You enroll in one or both of the FSA plans during annual Open Enrollment

•  Deductions are made on a "pre-tax" basis from each paycheck in the amounts you elect to set aside.

•  You incur an eligible expense

•  You pay the qualified provider with your Debit Card

•  Works just like a regular bank debit card, only the "bank account" consists of funds you have set aside in your Health Care or Child Care FSA accounts.

•  If your Childcare Provider accepts MasterCard, you can pay these expenses with your card.

•  If an eligible provider does not accept MasterCard then you simply file a paper claim for reimbursement

•  You can access your accounts on-line to view your account transactions

•  Health Care Accounts and Child Care Accounts are completely separate. You can not use money set aside in your Health Care account for Child Care expenses and vice versa.

Click Here for examples of eligible and ineligible expenses for Medical Costs.
Click Here for examples of eligible and ineligible expenses for Dependent Care Costs.

Even if you use your BankCard to pay an expense, YOU ARE REQUIRED BY IRS TO MAINTAIN AND SAVE YOUR RECEIPTS AND DOCUMENTATION OF EACH EXPENSE. (Receipts or documentation must include the name of the provider; the name of the person for which the expense was incurred; the nature of the expense, to verify its necessity; the date the expense was incurred; and the amount of the expense not eligible to be paid by insurance).Certain expenses equal to medical or dental co-pays will be automatically adjudicated with out receipts. After you have used your card, MedCom will contact you to provide receipts if necessary. Save your receipts and be ready to present them when asked.

If you have a regular recurring expense in the same amount, you can have this amount and charge approved automatically without having to provide a receipt to substantiate the charge each time it is incurred. CLICK HERE for the form that needs to be completed and submitted to MedCom with one of your receipts.

Eligible expenses must have been incurred during the plan year and claims must be filed within 60 days after the end of the plan year.

Claim forms can be faxed to MedCom at 1-866-598-7800 or mailed to MedCom Flex Dept., P.O. Box 10269 , Jacksonville , FL 32247-0269. Click Here for Claim Form.

MAXIMUM CONTRIBUTION:

$5,000 for the Health Care account - $416.66 per monthly pay period.

$5,000 for Dependent Care ($2,500 if married and filing separate returns) - $416.66 per monthly pay period.

 

For any questions, contact:

Caution: Flexible Spending Accounts are subject to the Internal Revenue "use-it-or-lose-it" rule. We suggest that you underestimate your expenses for the first year until you become accustomed to the process. Eligible expenses must have been incurred during the plan year, but you have sixty (60) days after the end of the plan year to file your claim.

WORKSHEETS

•  To Calculate your Health Care FSA savings, Click Here

•  To Calculate your Child Care FSA savings, Click Here

Plan Rules and Guidelines

Click Here to review the Summary Plan Description .

Click Here for more detailed information on Health Care FSA accounts

Click Here for more detailed information on Dependent Care (Childcare) FSA accounts

Click Here for Difference between Tax Credits and Dependent Care FSA's