Flexible Spending Accounts (FSA) Overview
Flexible spending accounts (FSA) help you to save money on your eligible health care and dependent care expenses. That's because the money you contribute to these funds is deducted from your pay before taxes. And, when you file a claim for reimbursement, the money repaid to you is also not taxable.
Alcoa offers employees the opportunity to participate in two flexible spending accounts:
What expenses are eligible?
- doctor's office coinsurance
- medical, prescription drug, and dental deductibles
- prescription drug coinsurance
- eye examinations and surgery
- bandages
- blood pressure monitors
- braces and supports
- denture adhesives
- insulin and diabetic supplies
What expenses require a prescription?
Over-the-counter:
- acne products
- allergy medicine
- aspirin and other pain relievers
- cough and cold medicines
- sleep aids and sedatives
- vitamins and supplements
The prescription must be written in advance of the purchase. Ask your doctor to be specific on the prescription with information about the type of medication, how often you should use the medication, and whether he or she is recommending a brand-name rather than a store-brand or generic.
Have a question?
Access the YSA website (select Other Benefits, then Your Spending Account). Or call 1-888-ALCOA123 (1-888-252-6212).
