Learn about Flexible Spending Accounts
With an FSA, you can set aside tax-free money to pay for eligible expenses. This information from Optum Financial explains the benefits of participating in a Flexible Spending Account. Veolia offers the following FSA options, administered by Optum Financial:
- Health Care FSA (for EPO and PPO plan participants only)
- Limited Purpose FSA (for HSA plan participants only)
- Dependent Care FSA
There are specific rules about what types of over-the-counter expenses can be reimbursed from Health Care and Limited Purpose FSAs. This flyer from Optum Financial provides more information about eligible expenses and submitting claims through Optum Financial download a claim form HERE. Also, Optum Financial has a tool on their website called the FSA Savings Calculator which can assist you in making your enrollment decisions.
When you participate in an FSA, you decide how much you want to contribute each plan year (January 1 through December 31), up to IRS annual limits. The amount you elect to contribute is deducted from each paycheck before taxes are taken out — this lowers your taxable income, which means lower taxes for you!
If you’re new to the FSA, you first must register with Optum Financial before you can access your account online. For additional assistance contact Optum Financial at 844-609-1806.
Health Care and Dependent Care Reimbursement:
For detailed guidelines on how to submit claims for reimbursement from your health care and/or dependent care flexible spending account, click HERE. In addition to significant savings, your account also offers the convenience of easy reimbursement. You have the option to submit claims using your phone or online. Simply snap a picture of your receipts, and Optum Financial will send your reimbursement within a few days.
Flexible Spending Account (FSA) Annual Maximum:
The IRS annual maximum amount you may contribute to a Health Savings FSA or Limited Purpose FSA for 2023 is $3,050 .
Have More Questions?
Please contact Optum Financial Customer Service at (844) 609-1806 or online at www.myoptumfinancial.com/veolianorthamerica.