Cobb County Government offers employees two Flexible Spending Accounts (FSA’s) – a Health Care Account and a Child Care Account. Flexible Spending accounts provide a way for you to pay for certain unreimbursed health care and dependent child care expenses with tax-free dollars. You contribute before-tax dollars directly from your pay to either or both Flexible Spending Account.
Why? Because you save money since the contributions are made before taxes — This is comparable to every dollar $1.00 you elect only affecting your take home pay by about $0.70.
All with the Convenience of a MasterCard! Current FSA Participants must keep their card until the imprinted expiration date. Annual Elections are credited each year on January 1st. Replacement Cards are $7.50 and will be deducted from your FSA Account.
2023 maximum is $2,850 = $109.62/pay period
2024 maximum is $3,050 = $117.31/pay period
Medical FSA has a Rollover feature where unused funds of $50 up to $570 for 2023 and $610 for 2024 will ‘roll’ to the next plan year.
$5,000 for Dependent Care ($2,500 if married and filing separate returns) – $416.66 per monthly pay period.
Dependent Daycare Accounts are ‘use it or lose it’ as dictated by the IRS.
- You enroll in one or both of the FSA plans during Annual Enrollment
- Deductions are made on a “pre-tax” basis from each paycheck in the amounts you elect to set aside.
- New enrollees will receive a bank MedCom MasterCard™ by January 1st- cards are valid for 3 years and will be ‘credited’ on January 1st of each year for your annual election
- You incur an eligible expense & pay the qualified provider with your MasterCard™.
You will be required to submit an Explanation of Benefits for charges that cannot be automatically verified as 1) Pharmacy Expense 2) Co-Pay amount or multiple.
- If the eligible provider does not accept MasterCard™, then you simply file a paper claim for reimbursement.
Eligible Expenses are ones that: 1) Can deduct on an itemized Federal income tax return or 2) Have not otherwise received reimbursement or eligible to receive reimbursement from insurance or any other source
- Works just like a regular bank debit card, only the “bank account” consists of funds you have set aside in your Health Care or Child Care FSA accounts.
- Health Care Accounts and Child Care Accounts are completely separate. You cannot use money set aside in your Health Care account for Child Care expenses and vice versa
What’s Eligible to Claim on your Flex Spending Account?
Have questions about what you can claim? It’s easy to find by searching for Medical and Dependent Daycare Care eligible products and services:
FSA Eligibility List – Choose Medical FSA or Dependent Daycare
Benefits in your pocket! This app gives you easy access to your Medcom benefits anywhere, anytime. Use the same username and password that you setup on MedCom’s WealthCare Portal! Just download, login, and go!
View all of your benefit account(s) recent transactions, balances, election information, claims filing deadlines, and more. You may also view transactions that require receipt documentation that may need to be submitted.
Additional features include opting in/out to receive alerts via text messaging, email, or both! These alerts could include information when your debit card has been mailed, when your password to the portal/mobile app has been reset, card transaction denials, and more
Wealthcare Mobile App User Guide
Regular recurring expenses in the same amount, can be setup to be approved automatically without having to provide a receipt to substantiate the charge each time it is incurred. Complete the Recurring Reimbursement Expense Form
and submit to MedCom with one of your receipts. This will eliminate the need to file/return reimbursement each time the transaction is debited.
Manual Claims / Claim Form
Prefer to save up and file at one time? Simply complete a paper Claim Form
. It can be sent one of the below ways:
1) Emailed to MedcomReceipts@emedcom.net
2) Fax to MedCom at 877-723-0149
3) Mail: MedCom Flex Dept, PO Box 10269, Jacksonville, FL 32247-0269
4) Upload to FSA Online Account though www.medcombenefits.com
(Registration ID is MCOCOBCTY)
Kathy Veal, 706-882-2864 or 800-523-7135, firstname.lastname@example.org