Health Accounts


I’m enrolled in the MCP


I’m enrolled in the HSP


I am eligible for benefits but not enrolled in either plan


 

Ways to Save for Healthcare Expenses

Depending on which plan you select, you’ll have access to an account specifically tied to paying for eligible healthcare expenses. If you’re budgeted to work 20+ hours per week, you can enroll in the Flexible Spending Account (FSA) even if you aren’t enrolled in a Mission health plan.

HSP

Health Savings Account (HSA)

MCP

Flexible Spending Account (FSA)

 

Both accounts allow you to pay for eligible healthcare expenses for you and your dependents tax-free. Eligible expenses include:

  • Health, dental and prescription drug deductibles
  • Coinsurance
  • Copays
  • Prescriptions
  • Dental expenses
  • Vision expenses

I’m enrolled in the MCP

You can choose to enroll in a Healthcare Flexible Spending Account (FSA) — and contribute up to $2,750 for 2021.

The FSA allows you to set aside money from your paycheck, before it is taxed, to pay for eligible expenses for you and your family. Your annual elected amount is deducted from your paycheck each pay period.

You can use your Healthcare FSA for reimbursement of eligible out-of-pocket medical, prescription, dental and vision expense for you, your spouse and eligible dependent children that are not paid for by insurance, up to your annual elected amount.

You are not eligible to enroll in the Healthcare FSA if you are enrolled in the Health Savings Plan (HSP).

Flex Debit Card

You will receive a flex debit card if you enroll in the Healthcare FSA. You can use your card to pay for eligible expenses. You should save your receipts in case you receive notification to provide verification of payments.

Learn more about the FSA and flex debit card here.

You must enroll in this account each year, and if you don’t use all of your funds by the end of the year, only $550 will roll over.

Receive Reimbursement for Healthcare Expenses

If you don’t use your flex debit card, you can submit a completed claim form with a receipt or bill indicating the date, type of service and amount you paid. Your reimbursement from your Healthcare FSA will be deposited directly into your bank account.

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You can use the MedCost MyAccounts app, to check available flex account balances and submit receipts from anywhere. The easy-to-use app will help you quickly find the information you need to make a payment, capture a receipt, or take any number of actions. There’s no need to wait for an answer—everything is right at your fingertips.

Using the MedCost MyAccounts mobile app, you can:

  • Quickly check available balances and account details.
  • Submit claims for reimbursement plans.
  • Snap a photo of a receipt and submit with a new or existing claim or upload image to a receipt organizer.
  • Use the Eligible Expense Scanner to scan items to determine if they are qualified medical expenses.
  • Report a lost or stolen flex debit card.
  • And much more!

Click here for more information.

If you have any questions regarding the MedCost MyAccounts mobile app, please contact MedCost mbsflex@medcost.com or at the phone number shown on your MedCost ID card.


I’m enrolled in the HSP

So both Mission Health and you can contribute to the HSA you must enroll in a Health Savings Account (HSA) with Healthcare Bank through HealthSCOPE Benefits. HealthSCOPE will send you information about opening your HSA, or you can enroll online. Remember: Your contribution limits are reduced by any contributions you receive from Mission Health. Learn more about setting up an account online with Healthcare Bank.

 

HSA benefits include:

  • Earning tax-free interest. Invest your earnings after the account reaches $2,000.
  • Account funds never expire, so you can use this money for healthcare expenses in retirement.
  • Even if you change health plans, take a new job or retire, the money in your account is yours to keep.

You are not eligible to participate in a HSA if:

  • You are enrolled in Medicare, Medicaid, or TRICARE
  • You can be claimed as a dependent on someone else’s tax return (excluding spouse’s)
  • You are currently covered by another plan which is not a high-deductible health plan, including a healthcare flexible spending account (you or your spouse’s)

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I am eligible for benefits but not enrolled in either plan

Just like those enrolled in the MissionCare Plan (MCP), you can choose to enroll in a Healthcare Flexible Spending Account (FSA) — and contribute up to $2,700 for 2020.

The FSA allows you to set aside money from your paycheck, before it is taxed, to pay for eligible expenses for you and your family. Your annual elected amount is deducted from your paycheck each pay period.

You can use your Healthcare FSA for reimbursement of eligible out-of-pocket medical, prescription, dental and vision expense for you, your spouse and eligible dependent children that are not paid for by insurance, up to your annual elected amount.

You are not eligible to enroll in the Healthcare FSA if you are enrolled in the Health Savings Plan (HSP).

Flex Debit Card

You will receive a flex debit card if you enroll in the Healthcare FSA. You can use your card to pay for eligible expenses. You should save your receipts in case you receive notification to provide verification of payments.

Learn more about the FSA and flex debit card here.

Receive Reimbursement for Healthcare Expenses

If you don’t use your flex debit card, you can submit a completed claim form with a receipt or bill indicating the date, type of service and amount you paid. Your reimbursement from your Healthcare FSA will be deposited directly into your bank account.

 

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