Review your current year's out-of-pocket health care expenses:
- Will your needs change or stay the same next year based on what you choose for health care coverage?
- Do you anticipate having any unreimbursed health care expenses? Remember, IRS guidelines now permit reimbursement of over-the-counter medications used to treat illness or injury.
- Consider out-of-pocket health care expenses not reimbursed by IBM or other health plans for you and your eligible dependent(s) (those who meet IRS dependent guidelines). For example, you can be reimbursed through the Health Care Spending Account for your spouse's unreimbursed expenses even if he or she is not covered by IBM's health care plans.
Note: Expenses for a same-gender domestic partner will be eligible for reimbursement through the Health Care Spending Account only if he or she qualifies as a dependent under IRS regulations. - Understand orthodontic reimbursement, if applicable in your situation. You can be reimbursed for orthodontic expenses at the time you pay for them, whether you pay the entire amount up front or in installments.
- Don't overestimate. Government rules require that you forfeit any balance in your Health Care Spending Account that you don't use during the calendar year. Also, you won't be allowed to change your contribution during the year unless you have a qualified status change that permits a change in the Health Care Spending Account election.