Page 10 - 15OE
P. 10
Open Enrollment
Flexible Spending Healthcare FSA
Accounts The Healthcare FSA lets you pay for certain IRS
approved medical, prescription drug, dental, and
vision care expenses not covered by your insurance
Employees have the option to contribute to plan with pre-tax dollars. For example, cash that you
a Healthcare Spending Account and/or a now spend on deductibles, copayments, or other out-
Dependent Care Flexible Spending Account (FSA), of-pocket medical expenses can instead be placed in
administered by UnitedHealthcare. Remember, the Healthcare FSA to pay for these expenses. The
employees who open and contribute to a HSA maximum contribution to the Healthcare FSA is $2,550
are not eligible to enroll in the Healthcare per plan year. Some examples of eligible expenses are:
Flexible Spending Account due to IRS
regulations. Employees who enroll will receive two Copays, deductible, coinsurance for medical, dental,
identical MasterCard debit cards. and vision plans
®
Prescriptions
An FSA allows you to set aside pre-tax dollars from Eyeglasses and contacts
your paycheck to cover qualiied expenses which
you would normally pay out-of-pocket, with after- First aid supplies
tax dollars. The funds you agree to set aside are Smoking cessation products (prescription only)
available to you on day one, but are deducted from
your paycheck over the course of the year. The Reminder: due to Health Reform, you must have a
amount you contribute to the FSA is not subject prescription to purchase over the counter medicine
to Social Security (FICA), federal, state, or local using your FSA.
income taxes—effectively adjusting your annual Dependent Care FSA
taxable salary.
The Dependent Care FSA lets you use pre-tax dollars
Please remember to plan carefully when towards qualiied dependent care. The maximum
determining your contribution amount. Any money amount you may contribute to the Dependent Care FSA
left in your account at the end of the plan year is $5,000 (or $2,500 if married and iling separately) per
cannot be rolled over to the next year or paid out plan year. Some examples of eligible expenses are as
to you. Your plan allows an extension of up to 2½ follows.
months into the following plan year, called the grace Cost of child or adult daycare *
period, to help you spend your Healthcare FSA
funds. Any excess amount after the grace period is Nursery school
forfeited to the plan. Preschool (excluding kindergarten)
* An eligible dependent is a tax dependent child under age 13 or a tax
Remember you must make a new contribution dependent spouse, parent, or child unable to care for themselves.
election every year—elections do not roll over
from year to year.
10
Flexible Spending Healthcare FSA
Accounts The Healthcare FSA lets you pay for certain IRS
approved medical, prescription drug, dental, and
vision care expenses not covered by your insurance
Employees have the option to contribute to plan with pre-tax dollars. For example, cash that you
a Healthcare Spending Account and/or a now spend on deductibles, copayments, or other out-
Dependent Care Flexible Spending Account (FSA), of-pocket medical expenses can instead be placed in
administered by UnitedHealthcare. Remember, the Healthcare FSA to pay for these expenses. The
employees who open and contribute to a HSA maximum contribution to the Healthcare FSA is $2,550
are not eligible to enroll in the Healthcare per plan year. Some examples of eligible expenses are:
Flexible Spending Account due to IRS
regulations. Employees who enroll will receive two Copays, deductible, coinsurance for medical, dental,
identical MasterCard debit cards. and vision plans
®
Prescriptions
An FSA allows you to set aside pre-tax dollars from Eyeglasses and contacts
your paycheck to cover qualiied expenses which
you would normally pay out-of-pocket, with after- First aid supplies
tax dollars. The funds you agree to set aside are Smoking cessation products (prescription only)
available to you on day one, but are deducted from
your paycheck over the course of the year. The Reminder: due to Health Reform, you must have a
amount you contribute to the FSA is not subject prescription to purchase over the counter medicine
to Social Security (FICA), federal, state, or local using your FSA.
income taxes—effectively adjusting your annual Dependent Care FSA
taxable salary.
The Dependent Care FSA lets you use pre-tax dollars
Please remember to plan carefully when towards qualiied dependent care. The maximum
determining your contribution amount. Any money amount you may contribute to the Dependent Care FSA
left in your account at the end of the plan year is $5,000 (or $2,500 if married and iling separately) per
cannot be rolled over to the next year or paid out plan year. Some examples of eligible expenses are as
to you. Your plan allows an extension of up to 2½ follows.
months into the following plan year, called the grace Cost of child or adult daycare *
period, to help you spend your Healthcare FSA
funds. Any excess amount after the grace period is Nursery school
forfeited to the plan. Preschool (excluding kindergarten)
* An eligible dependent is a tax dependent child under age 13 or a tax
Remember you must make a new contribution dependent spouse, parent, or child unable to care for themselves.
election every year—elections do not roll over
from year to year.
10
