Glossary of terms

Administrator

This term can be applied to many types of organizations. For the purpose of this guide, administrator refers to the company who holds, or administers, your FSA.

Claim

The information about a specific medical service submitted by your provider to your insurance company for processing. You can enter new claims records and access existing claims records in the member portal for payment and documentation purposes, as needed.

Contribution

The technical term used to refer to deposits to your FSA.

Contribution limits

The maximum amounts established that you can contribute to your FSA. See your plan details for specific limits.

Copay

The fixed dollar amount you pay for specified services and prescriptions under most traditional health plans.

Dependent

Any individual other than yourself, who you can use your FSA dollars for. This can include your spouse, children under 27, any tax dependents or any person you could have claimed on your taxes except:

1. The person filed a joint return
2. The person had a gross income of $3,900 or more
3. You, or your spouse if filing jointly, could be claimed as a dependent on someone else’s tax return

Distribution

The technical term used to refer to withdrawals from your FSA.

EFT (electronic funds transfer)

A quick method of transferring funds directly between your personal financial institution and your FSA. You can setup EFT for deposits or withdrawals in the member portal.

Election amount

The amount you decide to contribute to your FSA annually

EOB (explanation of benefits)

A statement from your insurance that shows the service billed from your provider and the deductible, coinsurance and other covered amounts, as applicable. Compare this to the invoice from your provider to ensure accuracy.

FSA carryover

The opportunity to rollover up to $550 of unused FSA dollars to the next year, if offered by your employer

Grace period

An extension, during which you may still incur eligible FSA expenses and use the funds remaining in your account to cover those expenses.

In-network

A provider that participates in your health plan network, who agrees to charge negotiated rates established with your health plan.

Insurance ID card

The card, provided by your health plan, that your provider uses to verify coverage and process billing of your claim. It is important that you present this card each time you use health care services.

Out-of-network

A provider who does not participate in your health plan network, and has no agreement with your health plan. You can still use your FSA to pay qualified medical expenses incurred with out-of-network providers.

Qualified medical expenses

Expenses that can be paid tax-free using your flexible spending account.

Reimbursement

Money you withdraw from your FSA to pay yourself back for out-of-pocket expenses.

Run out period

A period of time after your plan year ends, during which you are still able to submit reimbursement claims for expenses incurred during the plan year.