Sign up ASAP
Don’t let that email get buried in your inbox. Your plan starts the day you enroll, so if you wait a month to get started you will lose out on a whole month’s worth of reimbursements! All you need to sign up is a few minutes to fill out the enrollment application and include proof of insurance (either a monthly bill or screenshot from an insurance member portal will do).
If you currently don’t have health insurance or your employer is cancelling your group plan and replacing it with the QSEHRA, Take Command Health can help you find your new plan. Our database will help you shop and compare plans in your area that include your doctors and prescriptions. Our tool is free and easy to use! The nice thing about the QSEHRA is it allows you greater flexibility in choosing a health plan that fits your needs versus an employer sponsored group plan that might not.
Submit Expenses
Once you are enrolled you can begin submitting expenses. Your plan agreement will include a list of items that can be reimbursed such as: monthly premiums, medical expenses (including LASIK), and over-the-counter medications. You should also pay close attention to the list of items that are not approved for reimbursement. If you cannot tell an item is eligible for reimbursement, submit it and see what your plan administrator says. You don’t want to leave money on the table!
Make sure you keep receipts of all your expenses as you will need to submit them each month for reimbursement! You can submit your expenses as often as you like during the course of the month.
Max out reimbursements each year
Remember, your employer is offering you the QSEHRA as your health benefit. You will want to make sure that you max out their contributions for the year to take full advantage. The only way to receive their contributions is to submit your expenses. Don’t worry if you can’t reach your max reimbursement one month. The money will be carried forward to the end of the year.
Here's an example. Let's say your employer contributes $400 a month toward your health expenses. During the course of the month, you submit $350 in expenses. That leaves a balance of $50 which is carried over to the next month, meaning you would have $450 for the next month if you need it.
Just remember, any unused money at the end of the year will not be carried forward into the new year. The plan will start over at the new year.