Page 11 - 2016 ACProducts Non-Union
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ACProducts
Flexible Spending Accounts (FSA)
Plan Carefully
Healthcare Flex Spending Account It is important you contribute only as
Dependent Care Flex Spending Account much money to an FSA as you know you
will use during 2016. Because this is a
ACPI offers a lexible spending account administered by Discovery tax-favored plan, the IRS requires any
Beneits. Read below to ind out more about this offering. money left unused at the end of 2016
be forfeited. You will have 90 days at the
How Do FSAs Work? end of the year to ile claims, but the
expenses must have been incurred during
FSAs work like a personal savings account. You elect to set aside 2016.
a certain amount of your paycheck into an account before income
taxes are paid. There are two types of accounts your money can fund, Once the plan year has started, you
cannot change your contribution elections
and you can elect either account or both accounts. A more detailed unless there is an IRS qualifying event
summary of the FSA accounts is provided under the heading, (such as birth, change in marital status,
“Deinitions of Flexible Accounts.” You must re-enroll during open etc.).
enrollment to have this coverage in 2016; this beneit DOES NOT
roll over.
If you choose to re-enroll into the FSA program during open
enrollment, your current FSA debit card will remain in effect for
the 2016 plan year and will simply be reloaded based on your 2016
election. For new enrollees, new FSA debit cards have a targeted
delivery date of January 1, 2016. If you do not receive your FSA
debit card by January 1, please hold on to all receipts for FSA eligible
expenses until you receive your FSA debit card. Once you receive
your new FSA debit card, you can submit your FSA eligible expenses
for reimbursement.
11
Flexible Spending Accounts (FSA)
Plan Carefully
Healthcare Flex Spending Account It is important you contribute only as
Dependent Care Flex Spending Account much money to an FSA as you know you
will use during 2016. Because this is a
ACPI offers a lexible spending account administered by Discovery tax-favored plan, the IRS requires any
Beneits. Read below to ind out more about this offering. money left unused at the end of 2016
be forfeited. You will have 90 days at the
How Do FSAs Work? end of the year to ile claims, but the
expenses must have been incurred during
FSAs work like a personal savings account. You elect to set aside 2016.
a certain amount of your paycheck into an account before income
taxes are paid. There are two types of accounts your money can fund, Once the plan year has started, you
cannot change your contribution elections
and you can elect either account or both accounts. A more detailed unless there is an IRS qualifying event
summary of the FSA accounts is provided under the heading, (such as birth, change in marital status,
“Deinitions of Flexible Accounts.” You must re-enroll during open etc.).
enrollment to have this coverage in 2016; this beneit DOES NOT
roll over.
If you choose to re-enroll into the FSA program during open
enrollment, your current FSA debit card will remain in effect for
the 2016 plan year and will simply be reloaded based on your 2016
election. For new enrollees, new FSA debit cards have a targeted
delivery date of January 1, 2016. If you do not receive your FSA
debit card by January 1, please hold on to all receipts for FSA eligible
expenses until you receive your FSA debit card. Once you receive
your new FSA debit card, you can submit your FSA eligible expenses
for reimbursement.
11
