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13. If my employment terminates with American Oncology
Network when will my insurance coverage end?
Medical coverage ends effective the last day of the month following
your termination of employment, and the voluntary plans end with
the last day of your termination of employment with American
Oncology Network.
14. What is a Flexible Spending Account (FSA)?
An FSA allows you to set aside a portion of your earnings to pay for
qualiied healthcare expenses as established by the IRS. There are two
types of FSA accounts, FSA—Healthcare and FSA—Child Daycare/
Eldercare. You do not need to be enrolled in the medical, dental, or
vision insurance plans to participate in these accounts.
15. What is a Flexible Spending Account—Healthcare?
FSA—Healthcare may be used to pay for medical expenses such as
deductibles, coinsurance, copayments, and other qualiied expenses
(i.e., glasses, prescriptions). You will receive a Flores Mastercard and
funds are available to you January 1.
16. What is a Flexible Spending Account—Child Daycare/
Eldercare?
FSA—Child Daycare/Eldercare allows you to be reimbursed for
expenses for eligible dependent care services, such as preschool,
summer day camp, before or after school programs, and child or adult
daycare. A Flores Mastercard cannot be used with this account and
funds are not available to use until you add funds to the account via
payroll deductions. If a FSA Child Daycare/Eldercare plan is used,
you may not be able to claim these expenses on your taxes.
17. I have a FSA Healthcare and plan to contribute the annual
maximum allowed. When will these funds be available to me for
use on eligible expenses?
Even though you will not have contributed the entire amount until the
end of the calendar year, the total “planned” amount is made available
to you on January 1 of the year.
18. What is a Health Savings Account?
A bank account for your healthcare expenses. You elect a pre-tax
amount to contribute from your paycheck each pay period. You can
use your HSA debit card to pay for medical, dental, and vision care at
the time of service, online, or when you receive your bill in the mail.
32 2020 Benefits Guide
Network when will my insurance coverage end?
Medical coverage ends effective the last day of the month following
your termination of employment, and the voluntary plans end with
the last day of your termination of employment with American
Oncology Network.
14. What is a Flexible Spending Account (FSA)?
An FSA allows you to set aside a portion of your earnings to pay for
qualiied healthcare expenses as established by the IRS. There are two
types of FSA accounts, FSA—Healthcare and FSA—Child Daycare/
Eldercare. You do not need to be enrolled in the medical, dental, or
vision insurance plans to participate in these accounts.
15. What is a Flexible Spending Account—Healthcare?
FSA—Healthcare may be used to pay for medical expenses such as
deductibles, coinsurance, copayments, and other qualiied expenses
(i.e., glasses, prescriptions). You will receive a Flores Mastercard and
funds are available to you January 1.
16. What is a Flexible Spending Account—Child Daycare/
Eldercare?
FSA—Child Daycare/Eldercare allows you to be reimbursed for
expenses for eligible dependent care services, such as preschool,
summer day camp, before or after school programs, and child or adult
daycare. A Flores Mastercard cannot be used with this account and
funds are not available to use until you add funds to the account via
payroll deductions. If a FSA Child Daycare/Eldercare plan is used,
you may not be able to claim these expenses on your taxes.
17. I have a FSA Healthcare and plan to contribute the annual
maximum allowed. When will these funds be available to me for
use on eligible expenses?
Even though you will not have contributed the entire amount until the
end of the calendar year, the total “planned” amount is made available
to you on January 1 of the year.
18. What is a Health Savings Account?
A bank account for your healthcare expenses. You elect a pre-tax
amount to contribute from your paycheck each pay period. You can
use your HSA debit card to pay for medical, dental, and vision care at
the time of service, online, or when you receive your bill in the mail.
32 2020 Benefits Guide
