Page 10 - 2016 Enrollment
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Flexible Spending Accounts (FSAs)
2016 IRS FSA
Limits Flexible Spending Accounts allow you to pay for eligible expenses through
Healthcare FSA—$2,550 pre-tax payroll deductions. Nortek offers two types of Flexible Spending
Dependent Care FSA—$5,000 Accounts.
($2,500 if married and iling
separately) The Healthcare FSA program allow you to set aside money to pay
You must make a new election for expenses not covered by your medical insurance. You can use the
the entire plan year. Your election Healthcare FSA to help pay for things like coinsurance, prescriptions, and
cannot exceed annual IRS mandated medical equipment. While it’s not required you elect health insurance to
maximum limits. participate, if you do, only employees electing coverage in the HRA plan
Your entire healthcare FSA election can access the Healthcare FSA program.
is available to you on the irst day
of the plan year if you need it. Your Your Dependent Care FSA deducts a portion of your paycheck to use for
dependent care FSA election is
available as you accrue your election dependent care for children up to age 13, a disabled dependent of any age,
during the plan year through payroll or a disabled spouse. Some common examples include day care and after
deductions. school program costs. You do not have to enroll in a particular medical
plan or enroll in any speciic beneit programs to be eligible to participate
Claims Submission in this program.
All eligible expenses must be
incurred by December 31 and must Our FSA program is administered through UnitedHealthcare (UHC).
be submitted to UnitedHealthcare for
reimbursement by March 31, 2017. Since UHC also administers our account-based medical programs, if you
FSA claim forms are available on enroll in one of our UHC plans and elect to participate in the Healthcare
the Nortek Employee Portal or at FSA program you can manage your medical and Healthcare FSA claims at
www.myuhc.com. the same time through myuhc.com. UHC will automatically reimburse you
Reimbursements from your FSA for eligible medical expenses when processing your medical claims.
accounts can be processed when you
submit either a paper form or online
submission through myuhc.com. Healthcare FSA $500 Rollover
Through www.myuhc.com you can All eligible expenses must be incurred by December 31 and must be
set up convenient direct deposit submitted to UnitedHealthcare for reimbursement by March 31, 2017.
reimbursements to your account. If
you do not set up direct deposits, FSA claim forms are available on the Nortek Employee Portal or at
reimbursements will be mailed as a myuhc.com. However, our FSA program includes a $500 rollover
check to you. provision. You can rollover up to $500 of unused FSA dollars into your
account to use next year. The amount you rollover is in addition to your
regular annual election. You must re-enroll in the Healthcare FSA for the
2017 plan year to have unused funds (up to $500) rollover to 2017.
Nortek
Flexible Spending Accounts (FSAs)
2016 IRS FSA
Limits Flexible Spending Accounts allow you to pay for eligible expenses through
Healthcare FSA—$2,550 pre-tax payroll deductions. Nortek offers two types of Flexible Spending
Dependent Care FSA—$5,000 Accounts.
($2,500 if married and iling
separately) The Healthcare FSA program allow you to set aside money to pay
You must make a new election for expenses not covered by your medical insurance. You can use the
the entire plan year. Your election Healthcare FSA to help pay for things like coinsurance, prescriptions, and
cannot exceed annual IRS mandated medical equipment. While it’s not required you elect health insurance to
maximum limits. participate, if you do, only employees electing coverage in the HRA plan
Your entire healthcare FSA election can access the Healthcare FSA program.
is available to you on the irst day
of the plan year if you need it. Your Your Dependent Care FSA deducts a portion of your paycheck to use for
dependent care FSA election is
available as you accrue your election dependent care for children up to age 13, a disabled dependent of any age,
during the plan year through payroll or a disabled spouse. Some common examples include day care and after
deductions. school program costs. You do not have to enroll in a particular medical
plan or enroll in any speciic beneit programs to be eligible to participate
Claims Submission in this program.
All eligible expenses must be
incurred by December 31 and must Our FSA program is administered through UnitedHealthcare (UHC).
be submitted to UnitedHealthcare for
reimbursement by March 31, 2017. Since UHC also administers our account-based medical programs, if you
FSA claim forms are available on enroll in one of our UHC plans and elect to participate in the Healthcare
the Nortek Employee Portal or at FSA program you can manage your medical and Healthcare FSA claims at
www.myuhc.com. the same time through myuhc.com. UHC will automatically reimburse you
Reimbursements from your FSA for eligible medical expenses when processing your medical claims.
accounts can be processed when you
submit either a paper form or online
submission through myuhc.com. Healthcare FSA $500 Rollover
Through www.myuhc.com you can All eligible expenses must be incurred by December 31 and must be
set up convenient direct deposit submitted to UnitedHealthcare for reimbursement by March 31, 2017.
reimbursements to your account. If
you do not set up direct deposits, FSA claim forms are available on the Nortek Employee Portal or at
reimbursements will be mailed as a myuhc.com. However, our FSA program includes a $500 rollover
check to you. provision. You can rollover up to $500 of unused FSA dollars into your
account to use next year. The amount you rollover is in addition to your
regular annual election. You must re-enroll in the Healthcare FSA for the
2017 plan year to have unused funds (up to $500) rollover to 2017.
Nortek
