You submit a receipt as usual for reimbursement. Reimbursement can be made only up to the original annual election amount. If your actual expenses decrease, you may not be able to access yo ur total pay deductions in that plan year. If you use this plan, you cannot claim the same expenses as itemized deductions on your income tax returns. Since medical expenses must exceed 7.5 percent of your income before you can deduct them, this plan should save you much more.
Any amount left in the account at the end of the plan year is forfeited.
If you leave the school system, you cannot continue to draw from your account balance throughout the plan year unless you choose to continue funding your account with after-tax dollars. You have 90 days after the end of the plan year to file for expenses incurred during the year. You can use this plan for expenses of your family members even if you do not cover them under your health insurance plan. You must re-enroll for this benefit each year if you wish to continue using it. You may draw up to the total you have committed to contribute during the year at any time, even if the funds have not yet been deducted from your paycheck.