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 expenses
You must make a new election for not covered by your medical insurance. You can use the Healthcare FSA to
the entire plan year. Your election help pay for things like coinsurance, prescriptions, and medical equipment.
cannot exceed annual IRS While it’s not required you elect health insurance to participate, if you do,
mandated maximum limits. only employees electing coverage in the HRA plan can access the Healthcare
Your entire healthcare FSA FSA program.
election is available to you on
the irst day of the plan year if Your Dependent Care FSA deducts a portion of your paycheck to use for
you need it. Your dependent
care FSA election is available as dependent care for children up to age 13, a disabled dependent of any age, or
you accrue your election during a disabled spouse. Some common examples include day care and after school
the plan year through payroll program costs. You do not have to enroll in a particular medical plan or enroll
deductions. in any speciic beneit programs to be eligible to participate in this program.
Claims Our FSA program is administered through UnitedHealthcare (UHC). Since
Submission UHC also administers our account-based medical programs, if you enroll
All eligible expenses must in one of our UHC plans and elect to participate in the Healthcare FSA
be incurred by December
31 and must be submitted program you can manage your medical and Healthcare FSA claims at the
to UnitedHealthcare for same time through myuhc.com. UHC will automatically reimburse you for
reimbursement by March 31, eligible medical expenses when processing your medical claims.
2017. FSA claim forms are
available on the Nortek Employee Healthcare FSA $500 Rollover
Portal or at www.myuhc.com.
Reimbursements from your FSA All eligible expenses must be incurred by December 31 and must be
accounts can be processed submitted to UnitedHealthcare for reimbursement by March 31, 2017. FSA
when you submit either a paper claim forms are available on the Nortek Employee Portal or at myuhc.com.
form or online submission However, our FSA program includes a $500 rollover provision. You can
through myuhc.com. Through rollover up to $500 of unused FSA dollars into your account to use next year.
www.myuhc.com you can set
up convenient direct deposit The amount you rollover is in addition to your regular annual election. You
reimbursements to your account. must re-enroll in the Healthcare FSA for the 2017 plan year in order to have
If you do not set up direct unused funds (up to $500) rollover to 2017.
deposits, reimbursements will be
mailed as a check to you.
Earn $200 When You Enroll
Employees who enroll in the FSA program in 2016 will receive company paid dollars
into their FSA in addition to their own pre-tax contribution. The company will fund $200
into your FSA to use toward eligible expenses in 2016.
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 expenses
You must make a new election for not covered by your medical insurance. You can use the Healthcare FSA to
the entire plan year. Your election help pay for things like coinsurance, prescriptions, and medical equipment.
cannot exceed annual IRS While it’s not required you elect health insurance to participate, if you do,
mandated maximum limits. only employees electing coverage in the HRA plan can access the Healthcare
Your entire healthcare FSA FSA program.
election is available to you on
the irst day of the plan year if Your Dependent Care FSA deducts a portion of your paycheck to use for
you need it. Your dependent
care FSA election is available as dependent care for children up to age 13, a disabled dependent of any age, or
you accrue your election during a disabled spouse. Some common examples include day care and after school
the plan year through payroll program costs. You do not have to enroll in a particular medical plan or enroll
deductions. in any speciic beneit programs to be eligible to participate in this program.
Claims Our FSA program is administered through UnitedHealthcare (UHC). Since
Submission UHC also administers our account-based medical programs, if you enroll
All eligible expenses must in one of our UHC plans and elect to participate in the Healthcare FSA
be incurred by December
31 and must be submitted program you can manage your medical and Healthcare FSA claims at the
to UnitedHealthcare for same time through myuhc.com. UHC will automatically reimburse you for
reimbursement by March 31, eligible medical expenses when processing your medical claims.
2017. FSA claim forms are
available on the Nortek Employee Healthcare FSA $500 Rollover
Portal or at www.myuhc.com.
Reimbursements from your FSA All eligible expenses must be incurred by December 31 and must be
accounts can be processed submitted to UnitedHealthcare for reimbursement by March 31, 2017. FSA
when you submit either a paper claim forms are available on the Nortek Employee Portal or at myuhc.com.
form or online submission However, our FSA program includes a $500 rollover provision. You can
through myuhc.com. Through rollover up to $500 of unused FSA dollars into your account to use next year.
www.myuhc.com you can set
up convenient direct deposit The amount you rollover is in addition to your regular annual election. You
reimbursements to your account. must re-enroll in the Healthcare FSA for the 2017 plan year in order to have
If you do not set up direct unused funds (up to $500) rollover to 2017.
deposits, reimbursements will be
mailed as a check to you.
Earn $200 When You Enroll
Employees who enroll in the FSA program in 2016 will receive company paid dollars
into their FSA in addition to their own pre-tax contribution. The company will fund $200
into your FSA to use toward eligible expenses in 2016.
Nortek
