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When you enroll in a MoneyPlus Medical Spending Account, you can make pretax contributions to pay for eligible medical expenses. With an MSA, you will pay less in taxes, because your income will be reduced by the amount you contribute.
Enrolling in an MSA can help reduce your overall healthcare costs, and it’s easy to use. You’ll receive an ASIFlex Card, which functions like a debit card. You can use this card to spend funds from your account as an alternative to submitting claims for reimbursement.
Enroll in an MSA for 2027 during this year’s open enrollment and take advantage of these benefits to get the most from your account.
Access to your annual contribution on day one. Your entire contribution amount is available to you on your coverage effective date. You do not have to wait for the funds to accumulate in your account before using them for eligible medical expenses. As you have eligible expenses, you have two options—use your ASIFlex Card or pay for the expenses out of pocket and request reimbursement from ASIFlex.
Use your MSA to pay for your spouse and dependents. You can use the money in your MSA to pay for your spouse and dependent children’s eligible medical expenses. So, when you’re deciding how much to contribute, be sure to consider everyone’s potential expenses.
Pay for eligible medical, dental and vision expenses, as well as supplies. MSAs aren’t for traditional healthcare costs only, such as copayments and coinsurance. You can use your funds to pay for eligible dental and vision expenses, too, such as dental cleanings, orthodontia, eye exams, prescription eyeglasses and contacts. You can also use your MSA funds for other healthcare items, such as over-the-counter medicine, sunscreen and first-aid supplies.
Carry over up to $680 of unused funds into 2028. With the carryover provision, you can carry over up to $680 of unused MSA funds into the next plan year. So, if you don’t spend your entire account balance, you might be able to keep some of that money for the following year.
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