Health Care Reimbursement Account
How Can a Health Care Reimbursement Account Save Me Money?
Ask yourself the following questions when deciding about participating in the health
care reimbursement account.
- Do you have medical, dental, or vision expenses that are not covered by
your insurance plans, such as deductibles, co-pays, co-insurance, or amounts
in excess of usual, customary, and reasonable (UCR) limits?
- Do you have prescription drug expenses that are not covered by the health care
plan or dental plan, such as deductibles or co-pays?
- Do you take over-the-counter (OTC) medications such as pain relievers
(aspirin, Tylenol), cold/sinus medicines, antacids, allergy medicine, hemorrhoid
medicine, nicotine patches, athlete's foot medicine or sore muscle medicine
to treat a specific medical condition?
- Do you plan to buy new eyeglasses or contacts, or have your hearing tested, or
do you expect orthodontia expenses* that are not covered by the dental plan?
*If you have questions about reimbursement account orthodontia expense guidelines, please call WageWorks at 1-877-924-3967
for more information.
If your answer to any of these questions is "yes," then you should consider
participating in a Health Care Reimbursement Account. Please refer to the
Health
Care Reimbursement Account Worksheet to help you decide how much to
contribute. Check out the Take Home
Pay Calculator to see how
you can lower your taxes and increase your take home pay when you contribute to
the Health Care Reimbursement Account. You can also check
WageWorks' online tool to
help calculate how much your Health Care Reimbursement Account annual election
should be.
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