Using a Dependent Care FSA for Summer Camp
Can my Dependent Care FSA really be used to pay for summer camp?
Question of the Week - OTC FSA Documentation
Q: What documentation is required to substantiate an over-the-counter (OTC) item under a Health FSA?
Q: What documentation is required to substantiate an over-the-counter (OTC) item under a Health FSA?
A: An eligible receipt must include the merchant or provider name, the date of purchase, a description of the item purchased, and the amount paid. The description must clearly identify the product so it can be verified as an eligible medical expense. Credit card slips alone are not sufficient because they do not provide itemized detail.
Benefit Allocation Systems (BAS) provides online solutions for: Employee Benefits Enrollment; COBRA; Flexible Spending Accounts (FSAs); Health Reimbursement Accounts (HRAs); Leave of Absence Premium Billing (LOA); Affordable Care Act Record Keeping, Compliance & IRS Reporting (ACA); Group Insurance Premium Billing; Property & Casualty Premium Billing; and Payroll Integration.
MyEnroll360 integrates with major insurance carriers for enrollment eligibility management (e.g., Blue Cross, Blue Shield, Aetna, United Health Care, Kaiser, CIGNA and others), and with leading payroll platforms for enrollment deduction management (e.g., Workday, ADP, Paylocity, PayCor, UKG, and others).
This article is for informational purposes only and is not intended as legal, tax, or benefits advice. Readers should not rely on this information for taking (or not taking) any action relating to employment, compliance, or benefits. Always consult with a qualified professional before making decisions based on this content.
Topics
Adjusting DFSA Election When Child Care Needs Change
Can an employee stop contributing to a Dependent Care FSA if a family member begins providing child care?
IRS Increases Medical Mileage Rate Mid-Year
Due to increased fuel prices, the IRS changed the medical mileage reimbursement rate for the second half of the year.