How does a FSA work? Watch this Video.
Through the GIC's Health Care Spending Account (HCSA), administered by ASIFlex, active employees can pay for out-of-pocket health care expenses on a pre-tax basis. On average, state employees save $300 in federal and state taxes for every $1,000 contributed.
Eligible Expenses include:
- Physician office visit and prescription drug copayments
- Medical deductibles and coinsurance
- Eyeglasses, prescription sunglasses, and contact lenses
- Orthodontia and dental care
- Hearing aids and durable medical equipment
- Smoking cessation and child birth classes
- Chiropractor and acupuncture visits
Download the Flexible Spending Account Brochure for an overview. For a comprehensive list of covered expenses, download the list of eligible expenses . Use the HCSA worksheet to estimate your HCSA expenditures.
All HCSA participants receive two free debit cards to conveniently pay for health care expenses out of their HCSA account. Additional cards for other covered dependents may be ordered for $5.00 per set of two cards. Alternatively, as you incur health care expenses, submit a claim form and receipt to ASIFlex. They will deposit the reimbursement to your bank account or will mail you a check, depending on whether or not you enroll in direct deposit. As required by the IRS, keep copies of all HCSA receipts with your tax documents. IRS substantiation requirements apply.
Eligibility and Monthly Fee
All active state employees who are eligible for GIC health benefits are eligible to enroll in the HCSA . Employees must work at least 18.75 hours in a 37.5-hour work week or 20 hours in a 40-hour work week. For the 2015 calendar year, the monthly administrative fee for HCSA alone, DCAP alone, or HCSA and DCAP combined $2.50 on a pre-tax basis.
New state employees, including MBTA, Charms and Valley Collaborative Employees joining the GIC for the first time, may enroll for partial-year benefits. For HCSA, new hire benefits begin at the same time as other GIC benefits.
HCSA & DCAP Enrollment Will Transition to Fiscal Year in 2016
Open Enrollment: October 13 – December 4, 2015 for Half-Year Benefits
The HCSA and DCAP plan year will be changing from a calendar year to a fiscal year in 2016 to coincide with other GIC benefits. Open enrollment for these programs will take place October 13 – December 4, 2015 for the short plan year of January 1 – June 30, 2016. For the short plan year, the maximum election amount for HCSA will be $1,275 and the maximum DCAP elections will be $2,500. During the GIC’s spring 2016 Annual Enrollment period, state employees will be able to enroll in FSA benefits for the 12-month fiscal year of July 1, 2016 – June 30, 2017. Participants must re-enroll each open enrollment period using the online enrollment form.
2 1/2 Month's Grace Period
You have until March 15, 2015 to incur claims for your 2014 remaining balance and to submit claims for the prior year until April 15, 2015.
Contact ASIFlex; 1-800-659-3035
Manage Your Account Online
- Account Balances
- Claims Received
- Claims Processed
- Dates when Checks were Paid
- Download Forms
This information provided by the Group Insurance Commission .