Page 9 - 2019 Murphy Benefits Enrollment
P. 9
2019
Murphy Company Benefits Enrollment
FLEXIBLE SPENDING ACCOUNT Eligible Expenses
(FSA) Healthcare FSA
What is a Flexible Spending Account (FSA)? Doctor’s visit copays
Prescription drug copays
A lexible spending account (FSA) allows you to set aside pre-tax dollars Medical and dental deductibles
from your paycheck to cover qualiied expenses that you would normally Over-the-counter medications
pay out of your pocket with after-tax dollars. We partner with Discovery (with a written prescription)
Beneits to offer two types of lexible spending account programs. Hearing aids
Eye glasses
Healthcare FSA
The healthcare FSA helps you pay for certain IRS-approved medical care
expenses not covered by your insurance plan with pre-tax dollars. The
maximum contribution to the healthcare FSA for 2019 is $2,700.
Funds you elect to contribute are available to the healthcare FSA are
available in full on the irst day of the plan year. For example, if you elect
to contribute $1,000, full election is available on day one. You’ll continue
to pay for the election pre-tax from your paycheck throughout the plan
year.
If you enroll in the Premium Plan or Regular Plan, you are eligible to
contribute to the Healthcare FSA.
9
Murphy Company Benefits Enrollment
FLEXIBLE SPENDING ACCOUNT Eligible Expenses
(FSA) Healthcare FSA
What is a Flexible Spending Account (FSA)? Doctor’s visit copays
Prescription drug copays
A lexible spending account (FSA) allows you to set aside pre-tax dollars Medical and dental deductibles
from your paycheck to cover qualiied expenses that you would normally Over-the-counter medications
pay out of your pocket with after-tax dollars. We partner with Discovery (with a written prescription)
Beneits to offer two types of lexible spending account programs. Hearing aids
Eye glasses
Healthcare FSA
The healthcare FSA helps you pay for certain IRS-approved medical care
expenses not covered by your insurance plan with pre-tax dollars. The
maximum contribution to the healthcare FSA for 2019 is $2,700.
Funds you elect to contribute are available to the healthcare FSA are
available in full on the irst day of the plan year. For example, if you elect
to contribute $1,000, full election is available on day one. You’ll continue
to pay for the election pre-tax from your paycheck throughout the plan
year.
If you enroll in the Premium Plan or Regular Plan, you are eligible to
contribute to the Healthcare FSA.
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