Health Care Spending Account Highlights
You can contribute between $240 and $2,850 a year on a before-tax basis to pay for eligible out-of-pocket health care expenses for you and your eligible tax dependents incurred during the plan year (January 1 – December 31).
Eligible expenses generally can include medical, dental and prescription drug copayments, deductibles, and coinsurance; over the counter drugs and menstrual products, eyeglasses; frames; contact lenses; and certain other eligible health care expenses that aren't reimbursed by insurance.
The claim processing method varies by the type of expense, whether or not you are enrolled in the Medical Plan, and your Medical Reimbursement Account (MRA) payment method election under the Medical Plan, if applicable.
You can use the account's debit card to pay for eligible expenses, so you don't have to file claims to be reimbursed for those expenses. If you are enrolled in the Medical Plan, you may also elect the automatic payment method.
When submitting a claim or using the debit card to pay for eligible expenses incurred by a covered dependent, be sure to include the dependent's name.
You have until March 31 of the year following the plan year to submit eligible claims for reimbursement.
See "Managing Your Accounts and Receiving Reimbursements" for more information.
Internal Revenue Service rules provide that you can carry over to the following plan year $570 of any balance not used for eligible expenses.
If you are enrolled in the JPMorgan Chase Medical Plan, funds in your Medical Reimbursement Account (MRA) will be used to pay for eligible medical and prescription drug expenses before your Health Care Spending Account funds are used.
If you leave JPMorgan Chase before the end of the year, you can continue to be reimbursed for eligible expenses incurred up to the end of the month of your termination, as long as you submit the expenses by the applicable deadline (March 31 of the year after your termination) (Please see "Managing Your Accounts and Receiving Reimbursements" for more information.)
You can also elect through COBRA to continue contributing to your Health Care Spending Account on an after tax basis for eligible expenses incurred after your employment ends, but only until the end of the plan year in which you leave. Please see the Health Care Participation section for more information on COBRA continuation coverage.
Aetna/PayFlex and Cigna (depending on which carrier you elected for your Medical Plan coverage) are the claims administrators for the Health Care Spending Account for employees enrolled in the JPMorgan Chase Medical Plan.