Page 10 - 2019 CareHere Enrollment Guide
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2019 BENEFITS ENROLLMENT
FLEXIBLE SPENDING
ACCOUNT
Flexible Spending Accounts are available for regular full-time employees
actively working a minimum of 30 hours per week.
What is a Flexible Spending Account (FSA)?
A flexible spending account (FSA) allows you to set aside pre-tax dollars from
your paycheck to cover qualified expenses you would normally pay out of your
pocket with after-tax dollars. We offer two types of flexible spending account
programs administered by Health Equity.
Healthcare FSA
The healthcare FSA helps you pay for certain IRS-approved healthcare
expenses not covered by your insurance plan with pre-tax dollars. The 2019
maximum contribution to the healthcare FSA is $2,700 per plan year.
Funds you elect to contribute to the healthcare FSA are available on the first
day of the plan year. For example, if you elect to contribute $1,000, the full
election is available to you on January 1. You’ll continue to contribute on a
pre-tax basis from your paycheck throughout the plan year.
You may roll over up to $500 of unused healthcare FSA funds to next year’s
healthcare FSA. However, you must elect to contribute at least $1 to your
healthcare FSA to access any rollover funds. Unused healthcare FSA funds in
excess of $500 will be forfeited. Rollover funds will be available in mid-April
following the March 31, 2019 claims filing deadline.
You are not required to enroll in CareHere’s medical plan in order to
contribute to a healthcare FSA and you may use your FSA funds to reimburse
eligible expenses for you or your dependents.
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FLEXIBLE SPENDING
ACCOUNT
Flexible Spending Accounts are available for regular full-time employees
actively working a minimum of 30 hours per week.
What is a Flexible Spending Account (FSA)?
A flexible spending account (FSA) allows you to set aside pre-tax dollars from
your paycheck to cover qualified expenses you would normally pay out of your
pocket with after-tax dollars. We offer two types of flexible spending account
programs administered by Health Equity.
Healthcare FSA
The healthcare FSA helps you pay for certain IRS-approved healthcare
expenses not covered by your insurance plan with pre-tax dollars. The 2019
maximum contribution to the healthcare FSA is $2,700 per plan year.
Funds you elect to contribute to the healthcare FSA are available on the first
day of the plan year. For example, if you elect to contribute $1,000, the full
election is available to you on January 1. You’ll continue to contribute on a
pre-tax basis from your paycheck throughout the plan year.
You may roll over up to $500 of unused healthcare FSA funds to next year’s
healthcare FSA. However, you must elect to contribute at least $1 to your
healthcare FSA to access any rollover funds. Unused healthcare FSA funds in
excess of $500 will be forfeited. Rollover funds will be available in mid-April
following the March 31, 2019 claims filing deadline.
You are not required to enroll in CareHere’s medical plan in order to
contribute to a healthcare FSA and you may use your FSA funds to reimburse
eligible expenses for you or your dependents.
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