Page 31 - Skechers 2022 Benefits Guide

FLEXIBLE SPENDING ACCOUNTS (FSAs)
HEALTHCARE & LIMITED PURPOSE FLEXIBLE SPENDING ACCOUNT (FSA)
Skechers offers a Healthcare Flexible Spending Account (FSA) and Limited Purpose FSA (for those electing the Health Savings Account) through P&A Group. The Health FSA significantly reduces your taxes and increases your take home pay by allowing you to pay for qualified healthcare expenses for you and IRS-qualified dependents during the benefit plan year. The FSA benefit plan year runs from January 1, 2022 to December 31, 2022.
If you are enrolled in 2021, you will have until December 31, 2022 to use the remaining funds in your account. Any unused 2021 FSA balances will be forfeited after December 31, 2022. You will have until July 31, 2023 to submit any claims incurred on or prior to December 31, 2022. For any mid-year terminations, if COBRA continuation is not elected, expenses incurred after the last date of employment will not be reimbursed and any remaining balance may be forfeited. Claims for eligible expenses must be submitted to P&A Group by July 31 of the following year after your plan termination.
You can elect to contribute any amount up to a maximum of $2,850* for the 2022 plan year. Your annual amount is divided by the remaining pay periods in the year. There are 26 pay periods during the calendar year. You must re-enroll every year if you want to continue coverage. Once you make your benefit elections, you are not allowed to make any contribution changes unless you experience a Qualified Status Change.
WHAT IS AN ELIGIBLE EXPENSE?
For the Healthcare FSA, eligible expenses include medical, dental, and vision out-of-pocket expenses. For the Limited Purpose FSA, eligible expenses include dental and vision only. They include copayments, deductibles, coinsurance payments, prescription drug costs, and additional prescribed medical supplies and services. A full list of eligible expenses is available online on the IRS Publication 502 at: irs.gov/publications/p502/index.html.
HOW DO I USE MY FUNDS?
When you enroll in the Healthcare FSA and Limited Purpose FSA, you will be provided with a Debit Card. Using the Debit Card is simple: you simply swipe your card at point of purchase using the credit feature, and no “pin” will be required. The card is recognized nationwide at qualified healthcare merchants who accept MasterCard. Expenses can also be reimbursed after claims are submitted to the carrier for processing.
2022 FSA run out period – The time period you have to submit any claims incurred between 1/1/2022 – 3/15/2023. Members have until 7/31/2023 to submit these claims.
*Subject to change based on allowed IRS maximum.
P&A GROUP
Member Services: 800-688-2611 Mon.-Fri. 8:30am—10pm ET Website: padmin.com
KEEP RECEIPTS
Always remember to save your receipts when you make payments from your spending account(s), in case you need to provide proof of your eligible expenses to the IRS.
2022 BENEFITS 31
ADDITIONAL