Results for Flexible Spending Accounts
Rockwell Automation offers two Flexible Spending Accounts (FSAs): the Health Care FSA and the Dependent Care FSA. FSAs help you pay for eligible health care and dependent care expenses with tax-free dollars. You’re eligible for different FSAs depending on the medical option you choose:
- If you enroll in the HRA option, you are eligible to participate in a Health Care FSA.
- If you enroll in the HSA option, you are eligible to participate in a Limited Purpose FSA only. You can only use your Limited Purpose FSA for certain expenses, and you must submit claims for reimbursement. You cannot use the YSA debit card.
- If you enroll in either the HRA or HSA option, you are eligible to participate in a Dependent Care FSA.
|Health Care FSA|
|How Much Can I Contribute in 2021?|
Due to COVID-19, you can change your contributions at anytime in 2021.
|What Can the Money Be Used For?|
If you have a General Purpose FSA, eligible medical, dental and vision expenses for you and your tax dependents, like:
Copayments and coinsurance
Over-the-counter drugs for which you have a prescription
Contact lenses and eyeglasses
If you have a Limited Purpose FSA, eligible preventive pharmacy coinsurance, dental and vision expenses for you and your tax dependents until you meet your deductible, and then eligible medical expenses too.
|What Are the 2020 Deadlines?|
Deadline to use funds: Dec. 31, 2020
Deadline to submit expenses: Mar. 31, 2021
|What Are the 2021 Deadlines?|
Deadline to use funds:
Deadline to submit expenses:
|Does the money carry over?|
Yes, you can roll over your full balance—but only for 2021 as allowed under the Omnibus Budget Reconciliation bill. Normally, you can only roll over up to $550 in unused funds to the next plan year.
Special Rules for Your HSA and Health Care FSA
If you enroll in either the HSA and also want to participate in a Health Care FSA, special rules apply.
If you are enrolling in the HSA option, you must choose the Limited Purpose FSA. Until you meet your deductible, you can only use your Limited Purpose FSA for dental and vision expenses.
IRS Regulations for Flexible Spending Accounts
The IRS manages the guidelines for eligible FSA expenses. In most cases, you’ll need to submit receipts or other documentation to prove that your expenses are eligible. Make sure your documentation is complete and clearly eligible!
By law, expenses for domestic partners and their dependents are not eligible for reimbursement from FSAs.
For more information about FSA rules, see IRS Publications 502 and 503 at irs.gov.
Manage Your FSA
Managing and submitting claims to your account is easy! Just go to Your Benefits™ to upload FSA claims digitally and keep track of your FSA funds.