Page 22 - 2016 Open Enrollment
P. 22
Open
Enrollment
Flexible Spending Accounts
Flexible Spending Accounts
The Health Care FSA gives you a valuable tax break by leing you set aside FSA Debit Card
pre-tax dollars for reimbursement of eligible healthcare expenses incurred Your Healthcare FSA funds are loaded to
by you and your family during the calendar year. a credit card from BRI which you can use
to pay for out-of-pocket expenses. In the
Similarly, a dependent care FSA gives you a valuable tax break to help Dependent Care FSA, you do not receive a
you pay for eligible child and adult day care expenses. However, the debit card. Instead, you’ll submit claims to
dependent care FSA may not be used for reimbursement of your family’s BRI for reimbursement.
healthcare expenses; you must use a Health Care FSA for reimbursement
of eligible healthcare expenses.
Both accounts let you stretch the buying power of your money.
Under the Health Care FSA, you may be reimbursed for eligible medical,
dental, and vision out-of- pocket expenses incurred by you and your
dependents. You may contribute up to $2,550 per calendar year.
Under the Dependent Care FSA, you may be reimbursed for eligible day
care expenses for children under age 13 and adult day care expenses. You
may contribute up to $5,000 per calendar year ($2,500 maximum if you’re
married and ile separate tax returns).
For a complete list of eligible healthcare or dependent care expenses, or if
you have any quesions about the FSAs, visit BRI’s website at
www.BeneitsResource.com or call BRI at 1-800-473-9595.
Please note the following about FSA elecions:
X New elecions are required; you must make new elecions to
contribute to a Health Care and/or Dependent Care FSA for 2016;
prior elecions don’t carry over to the new year
X If you elect the Health Savings Plan, you may not contribute to a
Health Care FSA during 2016
X If you currently paricipate in an FSA program, it will run out as your “Use It or
plan design dictates for 2016 Lose It”
The new plan for 2016 will require
that all expenses be incurred by
December 31, 2016. If not, your FSA
savings will be forfeited. You will
have unil March 31, 2017 to
submit claims incurred during
the 2016 plan year.
22
Enrollment
Flexible Spending Accounts
Flexible Spending Accounts
The Health Care FSA gives you a valuable tax break by leing you set aside FSA Debit Card
pre-tax dollars for reimbursement of eligible healthcare expenses incurred Your Healthcare FSA funds are loaded to
by you and your family during the calendar year. a credit card from BRI which you can use
to pay for out-of-pocket expenses. In the
Similarly, a dependent care FSA gives you a valuable tax break to help Dependent Care FSA, you do not receive a
you pay for eligible child and adult day care expenses. However, the debit card. Instead, you’ll submit claims to
dependent care FSA may not be used for reimbursement of your family’s BRI for reimbursement.
healthcare expenses; you must use a Health Care FSA for reimbursement
of eligible healthcare expenses.
Both accounts let you stretch the buying power of your money.
Under the Health Care FSA, you may be reimbursed for eligible medical,
dental, and vision out-of- pocket expenses incurred by you and your
dependents. You may contribute up to $2,550 per calendar year.
Under the Dependent Care FSA, you may be reimbursed for eligible day
care expenses for children under age 13 and adult day care expenses. You
may contribute up to $5,000 per calendar year ($2,500 maximum if you’re
married and ile separate tax returns).
For a complete list of eligible healthcare or dependent care expenses, or if
you have any quesions about the FSAs, visit BRI’s website at
www.BeneitsResource.com or call BRI at 1-800-473-9595.
Please note the following about FSA elecions:
X New elecions are required; you must make new elecions to
contribute to a Health Care and/or Dependent Care FSA for 2016;
prior elecions don’t carry over to the new year
X If you elect the Health Savings Plan, you may not contribute to a
Health Care FSA during 2016
X If you currently paricipate in an FSA program, it will run out as your “Use It or
plan design dictates for 2016 Lose It”
The new plan for 2016 will require
that all expenses be incurred by
December 31, 2016. If not, your FSA
savings will be forfeited. You will
have unil March 31, 2017 to
submit claims incurred during
the 2016 plan year.
22
