Page 13 - AB Mauri 2022 Benefits Guide MOIL
P. 13
2022 Benefits Enrollment
Flexible Spending Accounts
Healthcare FSA Carryover and Grace Period
The healthcare FSA helps you pay for certain IRS- Feature
approved medical expenses with pre-tax dollars. The healthcare FSA and limited purpose healthcare
The maximum contribution to the healthcare FSA FSA ofers the carry over provision which allows you to
is $2,750 per calendar year. carry over up to $550 of your prior plan year’s residual
balance to the entire new plan year. If you have money
Funds you elect to contribute to the healthcare left in your traditional healthcare or limited healthcare
FSA are available in full on the irst day of the FSA and no additional expenses to claim at the end of
plan year. You are not eligible to contribute to a the year, you do not have to forfeit the balance. Instead,
Healthcare FSA and Health Savings Account at you can carry money over. Any remaining funds over the
the same time. IRS carryover limit will be forfeited.
Limited Purpose Healthcare The dependent care FSA ofers the grace period
FSA provision. This allows you to use funds contributed in
the current year for services received from January of
The limited purpose healthcare FSA is similar to the current year through March 15 of the following year.
the healthcare FSA except it is limited to eligible
dental and vision care services. The limited Claim Submission
purpose FSA is available to employees who are
contributing to a health savings account (HSA). Forms required for claim reimbursement can be
completed and submitted online. You always have
Dependent Care FSA the choice of using the debit card, iling paper-based
claims, or submitting a claim online. To learn more, visit
The dependent care FSA lets you set aside pre- healthequity.com.
tax dollars to use toward qualiied dependent
care. The maximum amount you may contribute FSA Card
to the dependent care FSA is $5,000 (or $2,500 if If you enroll in the FSA, you automatically receive a card
married and iling separately) per calendar year. in the mail shortly after your enrollment in the plan.
Funds you contribute to the dependent care FSA
need to accumulate before you can use them. You are able to use the healthcare account debit card
as a convenient way to immediately access your FSA
funds. Simply swipe your card at the provider’s payment
terminal, and the card will automatically debit your FSA
account for eligible expenses. This process will eliminate
the need to submit some paper claims, however the
IRS requires you retain all of your itemized receipts for
purchases made with the card. HealthEquity will notify
you if a receipt is needed to substantiate a particular
purchase.
13
Flexible Spending Accounts
Healthcare FSA Carryover and Grace Period
The healthcare FSA helps you pay for certain IRS- Feature
approved medical expenses with pre-tax dollars. The healthcare FSA and limited purpose healthcare
The maximum contribution to the healthcare FSA FSA ofers the carry over provision which allows you to
is $2,750 per calendar year. carry over up to $550 of your prior plan year’s residual
balance to the entire new plan year. If you have money
Funds you elect to contribute to the healthcare left in your traditional healthcare or limited healthcare
FSA are available in full on the irst day of the FSA and no additional expenses to claim at the end of
plan year. You are not eligible to contribute to a the year, you do not have to forfeit the balance. Instead,
Healthcare FSA and Health Savings Account at you can carry money over. Any remaining funds over the
the same time. IRS carryover limit will be forfeited.
Limited Purpose Healthcare The dependent care FSA ofers the grace period
FSA provision. This allows you to use funds contributed in
the current year for services received from January of
The limited purpose healthcare FSA is similar to the current year through March 15 of the following year.
the healthcare FSA except it is limited to eligible
dental and vision care services. The limited Claim Submission
purpose FSA is available to employees who are
contributing to a health savings account (HSA). Forms required for claim reimbursement can be
completed and submitted online. You always have
Dependent Care FSA the choice of using the debit card, iling paper-based
claims, or submitting a claim online. To learn more, visit
The dependent care FSA lets you set aside pre- healthequity.com.
tax dollars to use toward qualiied dependent
care. The maximum amount you may contribute FSA Card
to the dependent care FSA is $5,000 (or $2,500 if If you enroll in the FSA, you automatically receive a card
married and iling separately) per calendar year. in the mail shortly after your enrollment in the plan.
Funds you contribute to the dependent care FSA
need to accumulate before you can use them. You are able to use the healthcare account debit card
as a convenient way to immediately access your FSA
funds. Simply swipe your card at the provider’s payment
terminal, and the card will automatically debit your FSA
account for eligible expenses. This process will eliminate
the need to submit some paper claims, however the
IRS requires you retain all of your itemized receipts for
purchases made with the card. HealthEquity will notify
you if a receipt is needed to substantiate a particular
purchase.
13
