Page 15 - 2015 Enrollment Guide
P. 15
American Air Filter
Limited Scope Healthcare FSA
Employees who enroll in the Lumenos High Deductible Plan are still
able to take advantage of the FSA plan on a limited basis. Until you
meet the plan’s deductible, this limited scope FSA can only be used
for items such as dental and vision expenses. For this reason, it is
important that you carefully consider your election if you choose to
pair a limited scope FSA with the High Deductible Plan and a Health
Savings Account.
Dependent Child Care
The Dependent Child Care FSA permits you to pay for certain
dependent child care and expenses for eligible dependents who are
incapable of self-care on a pre tax basis. Like the Healthcare FSA, you
set aside an amount of money through ixed payroll deductions to help
pay for expenses such as baby sitters, child care centers, and specialized
care for your parents living with you, or a spouse who cannot care for
him- or herself.
Remember: Any dollars you don’t use from your FSA account
savings are forfeited each year: use it or lose it.
Under the pre-tax day care reimbursement beneit, you can elect to
contribute up to $5,000 per year. (Note: If your spouse also participates
in a pre-tax day care account, your combined contribution total must
not exceed $5,000). Contributions are automatically deducted from
your regular paychecks. After you pay your day care provider, you
submit proof of your expense and a reimbursement check is sent to
you.
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Limited Scope Healthcare FSA
Employees who enroll in the Lumenos High Deductible Plan are still
able to take advantage of the FSA plan on a limited basis. Until you
meet the plan’s deductible, this limited scope FSA can only be used
for items such as dental and vision expenses. For this reason, it is
important that you carefully consider your election if you choose to
pair a limited scope FSA with the High Deductible Plan and a Health
Savings Account.
Dependent Child Care
The Dependent Child Care FSA permits you to pay for certain
dependent child care and expenses for eligible dependents who are
incapable of self-care on a pre tax basis. Like the Healthcare FSA, you
set aside an amount of money through ixed payroll deductions to help
pay for expenses such as baby sitters, child care centers, and specialized
care for your parents living with you, or a spouse who cannot care for
him- or herself.
Remember: Any dollars you don’t use from your FSA account
savings are forfeited each year: use it or lose it.
Under the pre-tax day care reimbursement beneit, you can elect to
contribute up to $5,000 per year. (Note: If your spouse also participates
in a pre-tax day care account, your combined contribution total must
not exceed $5,000). Contributions are automatically deducted from
your regular paychecks. After you pay your day care provider, you
submit proof of your expense and a reimbursement check is sent to
you.
15
