Location: Bowdoin / HR / Benefits & Perks / Flexible Spending Accounts

Human Resources

Flexible Spending Accounts

A Flexible Spending Account (FSA) gives you the opportunity to save money on certain medical costs and/or daycare expenses by allowing you to pay for these costs with pre-tax money.  Two types of FSA accounts are available and are administered by Combined Services LLC.  A Medical FSA allows you to pay for eligible medical expenses (for yourself or your dependents) that are not covered by insurance and a Dependent Care FSA allows you to pay for eligible daycare expenses.  To be eligible for a Dependent Care FSA, your dependent must be under age 13 or a handicapped/elderly adult who is unable to care for himself/herself.  The daycare must be provided so that you (and your spouse, if married) can work.

What does “pre-tax money” mean and how does an FSA help save money?

Your salary or hourly rate of pay before any taxes are taken out is your gross salary or gross pay.  The actual amount of money that is available on your check each pay period is called your net salary or net pay.  An FSA works a little like a direct deposit savings account - money is taken out of your gross pay every paycheck before your taxes are calculated and put into a special FSA account.  Taking part in the FSA each calendar year will make your net pay lower, but in the long run, can save you money by lowering the amount of taxes that you must pay.

REMEMBER:  Unlike a savings account, FSAs are “use-it or lose-it”, so you want to be careful not to put too much money aside each calendar year but just the amount you know you’ll need.  You can put up to $5,000 each calendar year into a Medical FSA and/or $5,000 each calendar year into a Dependent Care FSA.   Again, if you don’t have enough expenses in the calendar year to claim the entire amount from the FSA account you will forfeit the remaining balance at the end of the year so be sure to plan carefully.

What can I purchase with my Medical FSA account?

The government only allows the FSA accounts to be used for specific purchases.  Here are a few examples of what you can purchase with Medical FSA money:

  • Prescription Drug Copayments
  • Office Visit Copayments
  • Deductible or Coinsurance Amounts
  • Eye Glasses/Contact Lenses
  • Orthodontic Expenses

To see the full list check out the Combined Services site.

How do I receive reimbursement from my Medical and/or Dependent Care FSA account?

For medical expenses, after you purchase an item or receive services that you are allowed to buy with your FSA you can then submit a receipt along with a claim form to Combined Services and they will send you a check reimbursing you for the cost.  Some medical claims may require additional medical documentation.  For example, if you use your Medical FSA for orthodontic expenses you must send a copy of the contract between you and your child’s orthodontist that shows the payment schedule along with your 1st claim.  You can submit claims at any time during the calendar year, but no later than March 31, 2012 for items or services that you received in calendar year 2011.

For dependent care expenses, you must submit a receipt or claim form signed by the child care provider.   In addition, you can only submit reimbursement requests for amounts that you have already put in your Dependent Care FSA.  For example if your daycare costs are $600 per month, but you have only $400 in your account then you can submit reimbursement for up to $400 that particular month.

Flexible Benefits Department
Combined Services Limited Liability Co.
PO Box 1320
Concord, NH  03302-1320
1-888-227-9745 ext 2040
1-603-224-0230 (fax)       

To learn more about all of the specifics of the Bowdoin FSA visit www.combinedservices.com or download:

For questions about claims and eligible expenses you can contact Combined Services by calling

1-888-227-9745 x2040.  You can also email them at flexiblebenefits@combinedservices.com.