SPENDING ACCOUNTS
Medical Reimbursement Account
The Medical Reimbursement Account (MRA) lets you to set aside pre-tax dollars to pay eligible medical, dental and vision expenses.
Stretch your healthcare dollars
Your MRA contributions are deducted pre-tax from your paycheck, which reduces your taxable income and increases your take-home pay. Optum Financial administers the MRA.
How the MRA works
MRA contributions are made on a tax-free basis, and reimbursements for qualified expenses are not taxable. You don’t need to be enrolled in an M&T Bank medical plan to contribute, but you cannot contribute to both an MRA and to a Health Savings Account (HSA).
| Overview | |
| 2027 Contribution Limit | $3,500 Note: The amount you elect to contribute for the year is fully available when your account takes effect. You cannot change your contribution mid-year (unless you experience a qualifying life event). |
| Eligible Expenses | Medical, prescription, dental and vision expenses. Review the complete list of eligible expenses. |
| Reimbursement | Optum Financial may request receipts for reimbursement. |
| Carryover of Funds |
You have until March 31, 2028 to submit claims for reimbursement. Funds do not carry over. Money left in your account, after all eligible expenses have been reimbursed, cannot be returned to you. You will forfeit any unused balance. |
Compare the HSA, LPFSA and MRA
To help you decide which tax-free account is right for you, see how the HSA, LPFSA and MRA compare.
Take action
You must actively enroll in the MRA for 2027 by 11:59pm ET on November 18. Your current contribution election will not carry over.