FLEXIBLE SPENDING ACCOUNTS

Two Flexible Spending Accounts (FSAs) are offered as a part of your group insurance plan:

• The Health Care Spending Account reimburses you for uninsured or non-covered medical, dental or eye care expenses; and
• The Dependent Care Spending Account reimburses you for child and dependent care expenses required for you or your spouse to work. The dollars taken for these accounts are pre-tax and must be used for expenses not reimbursed by other coverage.
  
  

EXTENDED PERIOD TO USE HEALTH ACCOUNT DOLLARS
The University of Akron has adopted IRS Notice 2005-42, which allows participants an additional 2½ months of claim incurrence for the health care spending account. This does not eliminate the "Use It or Lose It" rule. The account remains active for an additional 2½-month period. The deadline to file claims is extended to May 31.

MAXIMUM CONTRIBUTIONS
Maximum annual contributions are as follows:

• Health Care Account: $3,500
• Dependent Care Account: $2,500 or $5,000 if married, filing jointly, on tax return
  
  

REIMBURSEMENT FOR OVER-THE-COUNTER MEDICINES
The Health Care Flexible Spending Account also allows reimbursement of the following over-the-counter medications and devices.

• Acetaminophen (pain reliever/fever reducers)
• Analgesic ointments (for treatment of poison ivy, poison oak, eczyma and other skin condition)
• Antacids
• Antihistamines
• Aspirins
• Birth control
• Cold medicines
• Cough drops
• Cough syrups
• Migraine medicines
• Heating pad
• Laxatives and diarrhea medication
• Thermometers

A receipt is required for these items. They can be generic or brand name.

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