Health Care Fund


The Health Care Fund Flexible Spending Account can be used for many out-of-pocket medical, prescription drug, dental, and vision expenses for you and your eligible family members. These include:

  • deductibles and coinsurance for medical, prescription drug, dental, and vision services
  • expenses not covered under Alcoa's or any other benefit plan
  • eyeglasses and contact lenses not paid through Alcoa's vision plan
  • certain over-the-counter drugs

Click here for a complete list of eligible expenses.


You can contribute between $100 and $2,500 annually to this fund. Note: The maximum contribution is $2,500 per IRS rules. You must use the money deposited in your account for expenses during the calendar year.


The Health Care Fund is completely separate from the HRA and HSA medical options.


Note: If you enroll in the HSA medical option, you also can open a Limited Flexible Spending Account for dental and vision expenses.

Tips for Using the Health Care Fund

  • When you enroll, you specify the amount you think you can use in one year.
  • Your contributions are automatically deducted from each pay in equal amounts throughout the year.
  • You can be reimbursed for a variety of out-of-pocket medical, prescription drug, dental, and vision expenses that are not covered by any other benefit plan. For a complete list of covered expenses, see IRS Publication 502. Or see an indexed list on the Your Spending Account site.
  • You can also visit the Your Spending Account site via Your Benefits Resources for an indexed listing of eligible expenses.
  • Your total annual contribution is available to you on January 1. This means you may choose to spend it all in January or use smaller amounts throughout the year.
  • You can use the funds in your account only for services that you or an eligible dependent have received during the same calendar year. Your dependents do not have to be covered by an Alcoa plan in order for their expenses to be eligible for reimbursement from your Health Care Fund.
  • When you use a health care service, you can file a claim for reimbursement from your account.
  • You also may use the Your Spending Account™ card. The card works much like a prepaid telephone or credit card—you use it to pay upfront for certain eligible health care expenses, up to the total amount you contributed to your account for the year.
  • Beginning with the 2014 plan year, you may carry over to the next plan year up to $500 of unused money in your Health Care Fund. Remaining amounts over $500 will be forfeited.
  • You have until March 31 of next year to file claims for this year's eligible expenses.