Creative Foam’s Medical and Dependent Care reimbursement accounts (Flexible Spending Accounts) allow you to use tax-free dollars to reimburse yourself for a wide variety of health and/or dependent care expenses that are not covered through your other benefit plans.
The annual amount you elect to contribute to each account will be divided in equal amounts and deducted from each paycheck during the plan year before federal, and in most cases, state and local income taxes are withdrawn. The Plan Year is January 1st through December 31st. Your plan has incorporated a 2 1/2 month grace period, which allows you to incur additional expenses from January 1 – March 15 of the following calendar year, and apply those expenses to your previous plan year to help offset forfeitures.
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Medical Reimbursement Account (Includes a Debit Card)
Health Care expenses for yourself and your dependents, such as deductible, coinsurance and copays, glasses and dental care, are eligible for reimbursement from your Health Care Account. The annual election maximum amount is $3,400 for the 2026 plan year. In addition, the Health Care reimbursement account has a rollover provision, which allows you to rollover up to $680 into the following calendar year.
Dependent Care Account (No Debit Card)
Expenses for dependent care services for children under age 13, a disabled spouse or incapacitated parent are eligible for reimbursement from your Dependent Care FSA if you incur them while you and your spouse work or attend school full time. The annual election maximum amount is $7,500 for the Plan year.
FSA RUles
Plan
Plan your contributions to each of these accounts carefully. The election you make when you enroll is binding for the entire Plan Year unless you have a qualifying status change. In addition, the IRS has additional rules and restrictions on the way you can use FSA’s.
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Accounts
You can not transfer money from one account to another. Money in your Health Care FSA cannot be used for dependent care expenses and money in your Dependent Care FSA cannot be used for health care expenses.
Deadlines
You must incur eligible expenses prior to the end of the grace period (March 15th of the following year). All reimbursement claims must be submitted by April 30th of the following year.
Use it, Don’t Loose it
If you incur fewer expenses than you expected, you forfeit any money remaining in your FSA at the end of the grace period.
Learn about the isolved Benefit Services Benefits Accounts Consumer Portal. This portal gives you anytime access to view information and manage your account.
Debit Card
Using your Debit Card
The debit card deducts each claim payment with your flex dollars directly from your FSA account. It is as convenient as using an ordinary credit card, reducing the paperwork and eliminating the reimbursement wait time. Reimbursement requests are processed on a daily basis. The debit card can be used to pay for medical expenses at clinics, optometrists, dentists and pharmacies (including approved over-the-counter medications). With this card, a dependent of the Participant (spouse, adult child, etc.) can draw funds from the Participant’s account to pay for eligible expenses. Please keep all receipts as they may be requested from time to time to validate debit card charges.
Order New cards
Order Benny cards online by logging into your account at www.isolvedbenefitservices.com, hovering over the Accounts Menu and clicking on Banking/Cards. (The first time you log in, both your username & password will be the first initial of your first name, full last name & last 4 of your ssn combined, i.e. jsmith1234. Once you log in, you will be prompted to create your own.) You can also order cards by calling iSolved Benefits at 866-370-3040. (There will be a $5 fee charged to your flex account each time a new card is ordered.)