Page 16 - 2017 Benefits Enrollment
P. 16
Annual
Enrollment
Flexible Spending Flexible Spending Accounts—New Administrator in 2017
In 2017, FSA accounts will be administered by Your Savings Account (YSA).
Accounts
The Health Care FSA gives you a valuable tax break by leing you set aside
FSA Debit Card pre-tax dollars for reimbursement of eligible healthcare expenses incurred by
you and your family during the calendar year.
Your Healthcare FSA funds are
loaded to a credit card from YSA Similarly, a dependent care FSA gives you a valuable tax break to help you pay for
which you can use to pay for eligible child and adult day care expenses. However, the dependent care FSA may
out-of-pocket expenses. In the not be used for reimbursement of your family’s healthcare expenses; you must
Dependent Care FSA, you do not use a Health Care FSA for reimbursement of eligible healthcare expenses.
receive a debit card. Instead,
you’ll submit claims to YSA for Under the Health Care FSA, you may be reimbursed for eligible medical,
reimbursement. dental, and vision out-of- pocket expenses incurred by you and your
dependents. You may contribute up to $2,600 per calendar year.
Under the Dependent Care FSA, you may be reimbursed for eligible day
care expenses for children under age 13 and adult day care expenses. You
may contribute up to $5,000 per calendar year ($2,500 maximum if you’re
married and ile separate tax returns).
Please note the following about FSA elecions:
X New elecions are required; you must make new elecions to contribute
to a Health Care and/or Dependent Care FSA for 2017; prior elecions
don’t carry over to the new year
X If you elect the High Deducible Health Plan with HSA, you may not
contribute to a Health Care FSA during 2017
X If you currently paricipate in an FSA program, it will run out as your plan
design dictates for 2017
“Use It or Lose It”
All expenses must be incurred If you have an FSA account
by December 31, 2017. If in 2016, you may submit
not, your FSA savings will be claims incurred in 2016 for
forfeited. You will have until reimbursement to BRI unil
March 31, 2018 to submit March 31, 2017. All claims
claims incurred during the incurred in 2017 must go
2017 plan year. through YSA.
16
Enrollment
Flexible Spending Flexible Spending Accounts—New Administrator in 2017
In 2017, FSA accounts will be administered by Your Savings Account (YSA).
Accounts
The Health Care FSA gives you a valuable tax break by leing you set aside
FSA Debit Card pre-tax dollars for reimbursement of eligible healthcare expenses incurred by
you and your family during the calendar year.
Your Healthcare FSA funds are
loaded to a credit card from YSA Similarly, a dependent care FSA gives you a valuable tax break to help you pay for
which you can use to pay for eligible child and adult day care expenses. However, the dependent care FSA may
out-of-pocket expenses. In the not be used for reimbursement of your family’s healthcare expenses; you must
Dependent Care FSA, you do not use a Health Care FSA for reimbursement of eligible healthcare expenses.
receive a debit card. Instead,
you’ll submit claims to YSA for Under the Health Care FSA, you may be reimbursed for eligible medical,
reimbursement. dental, and vision out-of- pocket expenses incurred by you and your
dependents. You may contribute up to $2,600 per calendar year.
Under the Dependent Care FSA, you may be reimbursed for eligible day
care expenses for children under age 13 and adult day care expenses. You
may contribute up to $5,000 per calendar year ($2,500 maximum if you’re
married and ile separate tax returns).
Please note the following about FSA elecions:
X New elecions are required; you must make new elecions to contribute
to a Health Care and/or Dependent Care FSA for 2017; prior elecions
don’t carry over to the new year
X If you elect the High Deducible Health Plan with HSA, you may not
contribute to a Health Care FSA during 2017
X If you currently paricipate in an FSA program, it will run out as your plan
design dictates for 2017
“Use It or Lose It”
All expenses must be incurred If you have an FSA account
by December 31, 2017. If in 2016, you may submit
not, your FSA savings will be claims incurred in 2016 for
forfeited. You will have until reimbursement to BRI unil
March 31, 2018 to submit March 31, 2017. All claims
claims incurred during the incurred in 2017 must go
2017 plan year. through YSA.
16
