FAQs about how Covid-19 impacts your Healthcare FSA Account
Can I buy virus preparedness products with my healthcare FSA funds?
Yes-there are many products for virus preparedness that can be purchased online at www.FSAstore.com, including thermometers, heat and cold pads, first aid kits, and more. These items are FSA eligible and do not require a prescription.
I heard that I can now buy over-the-counter products with my Healthcare FSA funds. Is this true?
Yes! Over-the-counter drugs and medicines can now be paid for or reimbursed without a doctor’s prescription. These purchases are eligible beginning 12/31/2019. Menstrual care products (purchased after 12/31/2019) are also now considered a qualified medical expense and are eligible under the FSA. Be sure to save your receipts so that you can submit these to Wageworks for reimbursement. Your Flexcard may not work at common retailers and the receipt showing your purchase will need to be uploaded to your Wageworks portal in order to be reimbursed.
Can I make changes to my Healthcare FSA annual goal amount due to Covid-19?
At this time, there have not been any guidelines or relief provided by the IRS allowing employers to extend service plan dates or change annual goal amounts without a qualifying event. The City will continue to watch the situation and give updates as they become available.
What if I have experienced a qualifying event, such as a gain or loss of healthcare coverage and/or the addition or dropping of a dependent on the plan?
You might be able to change your annual election. Report your change online at www.portlandoregon.gov/benefits within 60 days of the event date. Proof of the eligible change is required. Having more or fewer medical expenses does not qualify as an IRS approved change.
I have a Dependent Care FSA and have experienced a change in my dependent care needs (daycare closure, employment change, summer camp cancellation, etc). What can I do?
You might be eligible to change your annual election. Report your change online at www.portlandoregon.gov/benefits within 60 days of the event date. The effective date is the first of the month after the enrollment change date. Proof of eligible change is required.
Thinking of cancelling your Dependent Care FSA? Remember, only services prior to the date of cancellation are able to be reimbursed.
Thinking of decreasing your Dependent Care FSA? You will continue to have access to funds in your account through the end of the plan year.
Do you have additional questions? Please email us at email@example.com.