Health Care Fund

Tips for Using the Health Care Fund

  • Your contributions are automatically deducted from each pay in equal amounts throughout the year.

  • Your total annual contribution is available to you on January 1. This means you may choose to spend it all in January or use smaller amounts throughout the year.

  • Your dependents do not have to be covered by an Alcoa plan in order for their expenses to be eligible for reimbursement from your Health Care Fund.

  • When you use a health care service, you can file a claim for reimbursement from your account.

  • You also may use the Your Spending Account™ card. The card works much like a prepaid telephone or credit card—you use it to pay upfront for certain eligible health care expenses, up to the total amount you contributed to your account for the year.

The Health Care Fund Flexible Spending Account can be used for many out-of- pocket medical, prescription drug, dental, and vision expenses for you and your eligible family members. These include:

  • deductibles and coinsurance for medical, prescription drug, dental, and vision services
  • expenses not covered under Alcoa's or any other benefit plan
  • eyeglasses and contact lenses not paid through Alcoa's vision plan
  • certain over-the-counter drugs
  • Complete list of eligible expenses.


You can contribute between $100 and $2,500 annually to this fund.


The Health Care Fund is completely separate from the HRA and HSA medical options. Note: If you enroll in the HSA medical option, you also can open a Limited Flexible Spending Account for dental and vision expenses.


Health Care Fund Carryover

You have until March 31 of the next year to submit claims for eligible expenses incurred through the previous December 31. This time from January 1 to March 31 is called the claims run-out period.

  • If you have money remaining in your Health Care Fund at the end of the claims run-out period, up to $500 of the unused money will carry over into your account for the following plan year. Amounts over $500 will be forfeited per IRS regulations.
  • If you did not re-enroll in the Health Care Fund for the new plan year, your Health Care Fund account will stay open with your carried-over amount (up to $500).