Page 14 - 2015 New Hire Guide
P. 14
Open
Enrollment
Health Care FSA
A Health Care FSA provides you with
the ability to save money on a pre- Participants in the HSA plan cannot participate in the Health
tax basis for any IRS-allowed health Care FSA. You can, however, participate in a Limited FSA to have
expenses not covered by your health immediate access to funds for dental and vision expenses.
care coverage . These expenses include
deductibles, copays and coinsurance Dependent Care FSA
payments, routine physicals, uninsured
dental expenses, vision care expenses A Dependent Care FSA provides you with the ability to save money on
(i .e ., eyeglasses or contact lenses), and a pre-tax basis for day care expenses for your child, disabled parent, or
hearing care expenses (i .e ., a hearing spouse. Generally, expenses will qualify for reimbursement if they are
exam or a hearing aid) .
the result of care for:
BeneFLEX is the third party
administrator for our FSA plans . X Your children, under the age of 13, for whom you are entitled to a
personal exemption on your federal income tax return.
Per IRS guidelines, you may
deposit up to $2,550 (pre-tax) X Your spouse or other dependents, including parents, who are
for the 2015 plan year into your physically or mentally incapable of self-care and rely on you for
Health Care FSA to cover you and inancial support.
your dependents during the plan
year. Pre-tax contributions are X Eligible expenses include payments to day care centers, preschool
withheld from each paycheck. It is costs (up to, but not including, irst grade), after school care, and
important to estimate carefully. elderly care. The cost of baby-sitting in a home is permitted—as
long as the person providing the care is not one of your own
children under age 19 or anyone else you claim as a tax exemption
on your federal income tax return. You must provide the social
security or tax ID number of the care provider to be reimbursed
from your Dependent Care FSA.
You may deposit up to $5,000 (pre-tax) into your Dependent Care
FSA. Pre-tax contributions are withheld from each paycheck.
HSA participants may participate in the Dependent Care FSA.
14
Enrollment
Health Care FSA
A Health Care FSA provides you with
the ability to save money on a pre- Participants in the HSA plan cannot participate in the Health
tax basis for any IRS-allowed health Care FSA. You can, however, participate in a Limited FSA to have
expenses not covered by your health immediate access to funds for dental and vision expenses.
care coverage . These expenses include
deductibles, copays and coinsurance Dependent Care FSA
payments, routine physicals, uninsured
dental expenses, vision care expenses A Dependent Care FSA provides you with the ability to save money on
(i .e ., eyeglasses or contact lenses), and a pre-tax basis for day care expenses for your child, disabled parent, or
hearing care expenses (i .e ., a hearing spouse. Generally, expenses will qualify for reimbursement if they are
exam or a hearing aid) .
the result of care for:
BeneFLEX is the third party
administrator for our FSA plans . X Your children, under the age of 13, for whom you are entitled to a
personal exemption on your federal income tax return.
Per IRS guidelines, you may
deposit up to $2,550 (pre-tax) X Your spouse or other dependents, including parents, who are
for the 2015 plan year into your physically or mentally incapable of self-care and rely on you for
Health Care FSA to cover you and inancial support.
your dependents during the plan
year. Pre-tax contributions are X Eligible expenses include payments to day care centers, preschool
withheld from each paycheck. It is costs (up to, but not including, irst grade), after school care, and
important to estimate carefully. elderly care. The cost of baby-sitting in a home is permitted—as
long as the person providing the care is not one of your own
children under age 19 or anyone else you claim as a tax exemption
on your federal income tax return. You must provide the social
security or tax ID number of the care provider to be reimbursed
from your Dependent Care FSA.
You may deposit up to $5,000 (pre-tax) into your Dependent Care
FSA. Pre-tax contributions are withheld from each paycheck.
HSA participants may participate in the Dependent Care FSA.
14
