Frequently Asked Questions
Flexible Spending Accounts
- What is a Flex, FSA or Cafeteria Plan?
- What does the IRS mean by an Inventory Information Approval System (IIAS)?
- Who is eligible to participate?
- How will a Flex Plan benefit me?
- What medical expenses are covered under a Flex plan?
- What over-the-counter items are allowed?
- Am I better off using a Dependent Care Reimbursement Account or taking the dependent care credit on my tax return?
- Can I change my elections during the plan year?
- How do I enroll?
- What happens if I do not return my Election Form?
- What are the maximum elections allowed under the plan?
- How often are claims processed?
- What happens with the money left in my account at the end of the plan year?
- Are there any ineligible employees?
132 Commuter Transit and Parking
Health Reimbursement Arrangements
- Can an owner participate in a HRA?
- Can family members of an S-Corp owner participate in a HRA?
- What is a Health Reimbursement Arrangement?
- Who can have an HRA?
- Who may fund an HRA?
- How may funds be used?
- How do I access the funds in my HRA?
- Can funds be carried over from year to year?
- What is the tax treatment of HRA Reimbursements?
- Can an HRA be offered in conjunction with a Flexible Spending Account?
- Employer Spending Requirement of the San Francisco Health Care Security Ordinance
Health Savings Accounts
- What is a Health Savings Account (HSA)?
- What are the benefits of Health Savings Accounts (HSA)?
- What IS and IS NOT an eligible medical expense for an HSA?
- What are the tax advantages of owning an HSA?
- Who can participate in an HSA?
- May both an individual and spouse have HSAs?
- Can an individual participate in both a flexible spending account (FSA) and an HSA -OR- a health reimbursement arrangement (HRA) and an HSA?
- What is COBRA continuation health coverage?
- What constitutes a "Qualifying Event"?
- How long may an individual continue coverage under COBRA?
- What process must individuals follow to elect COBRA continuation coverage?
- How long after a qualifying event do I have to elect COBRA coverage?
- How do I file a COBRA claim for benefits?
- Is a divorced spouse entitled to COBRA coverage from their former spouses’ group health plan?
- If I waive COBRA coverage during the election period, can I still get coverage at a later date?
- Under COBRA, what benefits must be covered?
- When does COBRA coverage begin and end?
- Who pays for COBRA coverage?
- If I elect COBRA, how much do I pay?
- Can I receive COBRA benefits while on FMLA leave?
- Which employers must comply with COBRA?