Page 17 - 2015 OE Sample Guidebook
P. 17
OTHER ANCILLARY BENEFITS
Under the Healthcare FSA, you can use the funds for eligible Flexible Spending
expenses incurred between January 1, 2014 and March 15, 2015. Accounts (FSA)
Dependent Care expenses are for eligible expenses incurred between A great way to plan ahead and save
January 1, 2014 and December 31, 2014. All of the accounts are money over the course of a year is to
subject to an IRS “use it or lose it” requirement, so make sure to participate in the Flexible Spending
carefully decide how much to set aside for this account. Account (FSA) programs.
These accounts allow you to redirect a
If you are currently enrolled in an FSA option, you must re-enroll to portion of your salary on a pre-tax basis
participate in 2014. Re-enrollment is not automatic. The Blue Cross into reimbursement accounts. Money
Blue Shield automatic cross-over reimbursement feature is available from these accounts is then used to
pay medical and dental expenses which
for the Healthcare FSA. are not reimbursed by your Medical
and Dental plans or dependent care
Reminder! Over-the-Counter (OTC) medications are not eligible expenses.
Healthcare FSA expenses. Check with your FSA vendor for any Pre-tax means the dollars you use
exceptions to this rule, such as a prescription being written for an for eligible expenses are not subject
OTC medication. to Social Security tax, federal income
tax, and in more cases, state and local
Account Use For Contribution income taxes—money you would have
Healthcare FSA Most medical dental and vision care $100 annual paid in taxes.
expenses not covered under the plan minimum
(i.e. copays, deductibles, orthodontia $2,500 annual
expenses, Lasik surgery and maximum
prescription eyewear)
Dependent Care Dependent care expenses (i.e. daycare, $100 annual
FSA after school programs for children minimum
under age 13, or elder care programs) $5,000 annual
so you and your spouse can work or maximum
attend school full-time.*
* Tax ID or Social Security number of care giver is required for eligible
charges.
Important! If you are participating in the Health Savings
Account (HSA) Plan, you may only participate in a Limited
Purpose Healthcare Reimbursement Account. This account is
designed to complement a Health Savings Account and allows for
reimbursement of eligible dental and vision expenses that you may
have. Spend Wisely! FSA programs allow
you to pay for qualiied expenses from
Account Use For Contribution
Limited Purpose Dental and Vision expenses for $100 annual contributions that are tax free, keeping
Healthcare participants electing the Health Savings minimum more money in your pocket.
Reimbursement Account (HSA) Plan $2,500 annual
Account maximum
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Under the Healthcare FSA, you can use the funds for eligible Flexible Spending
expenses incurred between January 1, 2014 and March 15, 2015. Accounts (FSA)
Dependent Care expenses are for eligible expenses incurred between A great way to plan ahead and save
January 1, 2014 and December 31, 2014. All of the accounts are money over the course of a year is to
subject to an IRS “use it or lose it” requirement, so make sure to participate in the Flexible Spending
carefully decide how much to set aside for this account. Account (FSA) programs.
These accounts allow you to redirect a
If you are currently enrolled in an FSA option, you must re-enroll to portion of your salary on a pre-tax basis
participate in 2014. Re-enrollment is not automatic. The Blue Cross into reimbursement accounts. Money
Blue Shield automatic cross-over reimbursement feature is available from these accounts is then used to
pay medical and dental expenses which
for the Healthcare FSA. are not reimbursed by your Medical
and Dental plans or dependent care
Reminder! Over-the-Counter (OTC) medications are not eligible expenses.
Healthcare FSA expenses. Check with your FSA vendor for any Pre-tax means the dollars you use
exceptions to this rule, such as a prescription being written for an for eligible expenses are not subject
OTC medication. to Social Security tax, federal income
tax, and in more cases, state and local
Account Use For Contribution income taxes—money you would have
Healthcare FSA Most medical dental and vision care $100 annual paid in taxes.
expenses not covered under the plan minimum
(i.e. copays, deductibles, orthodontia $2,500 annual
expenses, Lasik surgery and maximum
prescription eyewear)
Dependent Care Dependent care expenses (i.e. daycare, $100 annual
FSA after school programs for children minimum
under age 13, or elder care programs) $5,000 annual
so you and your spouse can work or maximum
attend school full-time.*
* Tax ID or Social Security number of care giver is required for eligible
charges.
Important! If you are participating in the Health Savings
Account (HSA) Plan, you may only participate in a Limited
Purpose Healthcare Reimbursement Account. This account is
designed to complement a Health Savings Account and allows for
reimbursement of eligible dental and vision expenses that you may
have. Spend Wisely! FSA programs allow
you to pay for qualiied expenses from
Account Use For Contribution
Limited Purpose Dental and Vision expenses for $100 annual contributions that are tax free, keeping
Healthcare participants electing the Health Savings minimum more money in your pocket.
Reimbursement Account (HSA) Plan $2,500 annual
Account maximum
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