Healthcare FSA

Eligible expenses

Eligible expenses include deductibles, coinsurance, and copay amounts for doctor's office visits and prescription drugs, and other expenses, such as over-the counter drugs and medicines, feminine hygiene products, glasses, contact lens solution, and laser vision surgery. Refer to the Further/Board of Pensions Learning Site for a more complete summary of eligible healthcare expenses.

Whose expenses are eligible

You may use your healthcare FSA to pay for eligible expenses incurred by

• you;
• your spouse;
• dependents you claim on your federal tax return; and
• your children who are age 26 or younger at the end of the tax year.

You don’t need to enroll your spouse and/or children in your medical coverage in order to pay their expenses from your healthcare FSA.

How it works

• You estimate eligible healthcare expenses for the upcoming year.
• Next, you decide the annual amount to defer from your salary — how much to have set aside from each paycheck — to go into the FSA to pay for eligible expenses for the coming year (this amount is called the election; IRS limits apply). Your employer will give you an enrollment form to make your annual election and return for processing.
• Your employer will deduct the amount you elect for the FSA from your pay on a pretax basis. This amount will be credited to your FSA over the course of the year.
• When you have an eligible expense, you can either pay with a healthcare Visa debit card (issued by Further after enrollment) or submit the expense through the Further secure member portal for reimbursement from your FSA. You should save all receipts for reimbursements and to validate expenses.
• The full amount you elect to contribute for the year is available on the first day of the plan year (or the date your participation begins, if later). You do not have to wait for payroll contributions to accumulate in your account before paying expenses with your healthcare FSA.

Important: The IRS has a use or lose rule for FSAs. This means that, at year-end, you risk losing unused FSA funds. The Board of Pensions FSA has a rollover feature that lessens this risk by letting you carry forward to the next year the amount left in your account at year end (up to the IRS limit). Because of the use or lose rule, it is important to estimate expenses carefully each year you enroll in an FSA.

Using your healthcare FSA

If you're enrolled in an FSA, you can manage your account through the Further secure member portal. To register and create a profile, you need your spending account identification (SAID) number, which is included in your welcome packet from Further. If you don’t have your SAID number, call Further’s Member Service line at 800-859-2144.

Once registered, you can log in to the site to manage your account:

• See your real-time account balance.
• Review account activity (contributions and payments).
• Check a searchable list of eligible expenses.
• Request reimbursement, pay a provider directly, and check the status of a payment.
• Order additional healthcare debit cards or report a lost or stolen card.
• Sign up for direct deposit of reimbursements into your personal bank account.
• Organize receipts and other documentation in Further’s My Records and Receipts document storage system.

Further Visa debit card

The Further Visa debit card gives you instant access to your healthcare FSA dollars. Simply use your card when you want to pay for eligible expenses, such as deductibles, doctor’s office visit copays or coinsurance, prescription drugs, and eligible over-the-counter medications.

If you participate in the healthcare FSA, you will receive a debit card in the mail after you sign up for an account.

Further mobile app

The Further mobile app, available free from the Apple App store or Google Play Store, provides tools to help manage your account on the go, from submitting receipts to checking on reimbursements or paying a bill. There’s even a tool that lets you scan a product’s barcode — while you’re shopping — to see if it’s an eligible expense.

Before downloading the app, you need to register online at the Further secure member portal; then use the username and password you created for the member portal to log in to the app.