How Does It Work?
During open enrollment, you will decide how much to contribute to your Health FSA via payroll deductions for the upcoming year. The amounts you elect will be divided equally depending on your pay schedule and deducted from your pay before taxes are withheld. This amount will be deposited into your spending account.
The money you have paid out of pocket is reimbursed to you from your account. You can even elect to have it deposited directly into your checking or savings account. You may begin the direct deposit service at anytime.
Reimbursements will be made up to the full amount you elected to contribute for the entire year as long as your account is in an active status. In effect, you can receive reimbursement advances on what you will contribute later in the year.