Flexible Spending Account

A Flexible Spending Account (FSA) is an employer owned account that lets you set aside pre-tax dollars (which lowers your taxable income) to pay for eligible out-of-pocket expenses.
There are two types of FSAs:
Healthcare FSA – Can be used to pay eligible medical, dental, orthodontia and vision expenses. If employees enroll in the Consumer Driven Medical plan (HSA) then the FSA account will be limited to dental and vision expenses.
Dependent Care – Can be used to pay eligible expenses for childcare, eldercare or care for a disabled dependent.

As a new hire and every year during your open enrollment period, you have the option of making an annual election for a Full or Limited Purpose Healthcare FSA, and/or Dependent Daycare FSA. Once your plan year begins, your payroll deductions to the plan are deducted from each paycheck and are posted to your FSA plan. As the administrator of the plan, Basic will verify that the funds in the plan account are used for eligible expenses and that the plan complies of IRS guidelines.

What must I do to obtain reimbursement?
When you incur and expense you may either use the basic visa debit card at the time of
service or file a claim for reimbursement. Be sure to obtain an itemized receipt, EOB, or
claims details from the provider which lists the following:
• The prover’s name and address
• The date the expense occurred
• A description of the item purchases or service rendered
• The amount of the expense
Claims for reimbursement can be filed through our website at www.cda.basiconline.com, by mail, email, or fax.

Important Dates
The last day to SUBMIT claims for reimbursement from the 2024 plan year is March 31, 2025.