Page 15 - Hussmann- OE Guide
P. 15
Hussmann Corporation
Flexible Spending Accounts (FSAs)
For those enrolled in the PPO Plan, you continue to have the option Flexible
to open a Health Flexible Spending Account. FSAs are a great way Spending
to set aside pre-tax money to pay for your out-of-pocket health, Account
prescription drug, dental, and vision expenses. Employees are
allowed to set aside a maximum of $2,550 into the Health Flexible Point of Clarification
Spending Account. The Dependent Care Flexible Spending Account The Healthcare FSA is for eligible
will also continue to be offered to employees. You will continue to medical, prescription drug, dental,
be allowed to set aside up to $5,000 annually on a pre-tax basis (per and vision expenses for you and your
dependents
household) for day care, elder care, after-school care, or baby-sitting
in your home (subject to IRS qualiications). The Dependent Care FSA is for
eligible dependent day care expenses
Remember you must use all designated funds by the end of the year for children under the age of 13
(“use it or lose it”) when participating in a Healthcare or Dependent or dependents of any age that are
incapable of caring for themselves
Care FSA. Hussmann’s plan does offer a grace period extension due to a physical or mental handicap
which allows an additional 75 days to claim reimbursement. If
you have money left in your Healthcare FSA and no additional Important Reminders
expenses to claim at the end of the year, you do not have to forfeit If you are planning to enroll in the
the balance. Instead, you can use the remaining balance to offset CHP for 2015 and are also interested
expenses incurred from January 1 through March 15 of the following in an HSA for eligible healthcare
year. expenses, you’re ineligible for a
Healthcare FSA. You are, however,
When you enroll in the Healthcare FSA for the irst time, you able to participate in the Limited
automatically receive a Spending Account Card (debit card), FSA (LFSA) and use it on dental
remember cards are not available for Dependent Care FSAs. and vision expenses only. Medical
expenses cannot be paid for with the
Limited FSA (LFSA)/HSA Compatible
FSA because they are intended to be
paid from your HSA.
If you have eligible dependent care
expenses, you can enroll in the
Hussmann is proud to sponsor an important feature to our Dependent Care FSA regardless of
FSA program called the HEART Act. The HEART Act allows the medical plan you choose.
“qualiied reservist distributions” to those who are called to
active duty. Please see your FSA Summary Plan Description
for Details.
15
Flexible Spending Accounts (FSAs)
For those enrolled in the PPO Plan, you continue to have the option Flexible
to open a Health Flexible Spending Account. FSAs are a great way Spending
to set aside pre-tax money to pay for your out-of-pocket health, Account
prescription drug, dental, and vision expenses. Employees are
allowed to set aside a maximum of $2,550 into the Health Flexible Point of Clarification
Spending Account. The Dependent Care Flexible Spending Account The Healthcare FSA is for eligible
will also continue to be offered to employees. You will continue to medical, prescription drug, dental,
be allowed to set aside up to $5,000 annually on a pre-tax basis (per and vision expenses for you and your
dependents
household) for day care, elder care, after-school care, or baby-sitting
in your home (subject to IRS qualiications). The Dependent Care FSA is for
eligible dependent day care expenses
Remember you must use all designated funds by the end of the year for children under the age of 13
(“use it or lose it”) when participating in a Healthcare or Dependent or dependents of any age that are
incapable of caring for themselves
Care FSA. Hussmann’s plan does offer a grace period extension due to a physical or mental handicap
which allows an additional 75 days to claim reimbursement. If
you have money left in your Healthcare FSA and no additional Important Reminders
expenses to claim at the end of the year, you do not have to forfeit If you are planning to enroll in the
the balance. Instead, you can use the remaining balance to offset CHP for 2015 and are also interested
expenses incurred from January 1 through March 15 of the following in an HSA for eligible healthcare
year. expenses, you’re ineligible for a
Healthcare FSA. You are, however,
When you enroll in the Healthcare FSA for the irst time, you able to participate in the Limited
automatically receive a Spending Account Card (debit card), FSA (LFSA) and use it on dental
remember cards are not available for Dependent Care FSAs. and vision expenses only. Medical
expenses cannot be paid for with the
Limited FSA (LFSA)/HSA Compatible
FSA because they are intended to be
paid from your HSA.
If you have eligible dependent care
expenses, you can enroll in the
Hussmann is proud to sponsor an important feature to our Dependent Care FSA regardless of
FSA program called the HEART Act. The HEART Act allows the medical plan you choose.
“qualiied reservist distributions” to those who are called to
active duty. Please see your FSA Summary Plan Description
for Details.
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