What is a Health Care Reimbursement Plan (HCRP)?
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An IRS sponsored plan that allows you to set aside money on a pre-tax basis to pay for out-of-pocket medical, dental, and vision expenses. These expenses can include deductibles and co-payment amounts associated with your major medical insurance coverage.
What medical expenses are not covered?
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Most expenses are eligible for reimbursement as long as they are not cosmetic in nature. Rule of thumb; if it is used to improve or maintain your health, it is covered. Please review the list of Eligible Expenses.
Are orthodontic expenses covered?
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Yes. Expenses for orthodontics are reimbursable if you pay the total amount due for services or if a payment arrangement is allowed. You simply submit your receipt as frequently as payments are made. In some cases these payments may occur over several Plan years.
What happens to my money if I quit before I use it all?
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All expenses you incur prior to your date of termination are reimbursable. Your HCRP is a COBRA eligible benefit and may be continued until the end of the Plan year. If COBRA is not elected, any unused funds will be forfeited to the employer.
What happens if I don't use all of the money in my account?
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Any funds that go unused during the Plan year are forfeited to the employer. This is referred to as the use-it or lose-it provision. Please use the Flex Estimator Worksheet to assist you in determining the amount you contribute to this account.
