Health Care Flexible Spending Account

URI: https://gptkb.org/entity/Health_Care_Flexible_Spending_Account
GPTKB entity
Statements (30)
Predicate Object
gptkbp:instanceOf employee benefit
gptkbp:administeredBy employer
gptkbp:alsoKnownAs Health FSA
gptkbp:benefit reduces taxable income
gptkbp:carryoverOption up to $610 (2023)
gptkbp:compatibleWith gptkb:Health_Savings_Account_(HSA)
gptkbp:country gptkb:United_States
gptkbp:dependentCareFSA separate account
gptkbp:eligibility gptkb:DVD
medical equipment
prescription drugs
medical
dental
insurance premiums
gptkbp:establishedBy Section 125 of Internal Revenue Code
gptkbp:establishedIn 1978
gptkbp:forfeiture unused funds may be forfeited
gptkbp:fundedBy employee pre-tax contributions
gptkbp:gracePeriodOption up to 2.5 months
https://www.w3.org/2000/01/rdf-schema#label Health Care Flexible Spending Account
gptkbp:maximumLoanAmount set annually by IRS
gptkbp:purpose pay for qualified medical expenses
gptkbp:regulates gptkb:Internal_Revenue_Service
gptkbp:reimbursementMethod gptkb:credit_card
manual claim
gptkbp:requiresPlanDocument yes
gptkbp:useItOrLoseItRule yes
gptkbp:bfsParent gptkb:Federal_Flexible_Spending_Account_Program
gptkb:Dependent_Care_Flexible_Spending_Account
gptkbp:bfsLayer 7