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12. If my employment terminates with American Oncology
Network when will my insurance coverage end?
All coverage is terminated effective the last day of the month
following your termination of employment with American Oncology
Network.
13. 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/
elder care. You do not need to be enrolled in the medical, dental, or
vision insurance plans to participate in these accounts.
14. 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.
15. What is a Flexible Spending Account—Child Daycare/Elder
Care?
FSA—Child Daycare/Elder Care 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/Elder Care plan is used,
you may not be able to claim these expenses on your taxes.
16. 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.
American Oncology Network 25
Network when will my insurance coverage end?
All coverage is terminated effective the last day of the month
following your termination of employment with American Oncology
Network.
13. 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/
elder care. You do not need to be enrolled in the medical, dental, or
vision insurance plans to participate in these accounts.
14. 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.
15. What is a Flexible Spending Account—Child Daycare/Elder
Care?
FSA—Child Daycare/Elder Care 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/Elder Care plan is used,
you may not be able to claim these expenses on your taxes.
16. 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.
American Oncology Network 25
