Page 14 - 2015-2016 Enrollment Guide
P. 14
14
Flexible Spending Accounts
Healthcare Flexible Dependent Care Flexible Spending Accounts
Spending Accounts The Dependent Care FSA permits you to pay for qualiied child and
This plan allows you to pay for adult care expenses on a pre-tax basis. You’ll set aside an amount of
eligible out-of-pocket expenses with money through ixed payroll deductions to help pay for medically
pre-tax dollars. Eligible expenses eligible dependent care expenses.
include plan deductibles, copays,
coinsurance, and other non- Qualiied expenses include, but are not limited to, licensed child
covered medical, dental and vision and adult day care as well as summer camps with a tax identiication
healthcare expenses for you and your number. Once you pay your provider, submit proof of your expense
dependents. You may access your and a reimbursement check will be sent to you once the funds have
entire plan year election from the been withheld from your paycheck. It’s that easy!
irst day of the plan year. You may
submit eligible healthcare expenses How Much Can I Contribute to My FSA?
for reimbursement or may use your The IRS limits the amount of money you can contribute to an FSA
Spending Account Card which program each year. You can elect to contribute up to the full IRS
allows you to pay for eligible medical mandated limits of $2,550 for the medical FSA or $5,000 for the
expenses at the time of service. Dependent Care FSA.
Refer to www.spendingaccounts.info
for eligible expenses and additional Keep in mind the IRS monitors FSA contributions on a calendar year
details concerning the value of FSAs. basis, thus any contributions made prior to joining Optimas need to be
You will receive an FSA Spending taken into consideration. Please contact the Beneits Solutions Center
Account debit card mailed to your for more guidance regarding your FSA program contributions.
home within two weeks after you
elect to contribute to an account. What Happens If I Don’t Use All Of The Funds In My
Account?
Your Healthcare and Dependent Care FSA contributions are subject to
a “Use-It-or-Lose-It” rule, so make sure you carefully decide how much
to set aside in your accounts. All expenses incurred during the July 2015
through June 2016 plan year must be submitted for reimbursement by
September 30, 2106. You will not receive a refund, nor be permitted to
roll unused funds over to the 2016–2017 plan year.
Optimas OE Solutions Holdings, LLC
Flexible Spending Accounts
Healthcare Flexible Dependent Care Flexible Spending Accounts
Spending Accounts The Dependent Care FSA permits you to pay for qualiied child and
This plan allows you to pay for adult care expenses on a pre-tax basis. You’ll set aside an amount of
eligible out-of-pocket expenses with money through ixed payroll deductions to help pay for medically
pre-tax dollars. Eligible expenses eligible dependent care expenses.
include plan deductibles, copays,
coinsurance, and other non- Qualiied expenses include, but are not limited to, licensed child
covered medical, dental and vision and adult day care as well as summer camps with a tax identiication
healthcare expenses for you and your number. Once you pay your provider, submit proof of your expense
dependents. You may access your and a reimbursement check will be sent to you once the funds have
entire plan year election from the been withheld from your paycheck. It’s that easy!
irst day of the plan year. You may
submit eligible healthcare expenses How Much Can I Contribute to My FSA?
for reimbursement or may use your The IRS limits the amount of money you can contribute to an FSA
Spending Account Card which program each year. You can elect to contribute up to the full IRS
allows you to pay for eligible medical mandated limits of $2,550 for the medical FSA or $5,000 for the
expenses at the time of service. Dependent Care FSA.
Refer to www.spendingaccounts.info
for eligible expenses and additional Keep in mind the IRS monitors FSA contributions on a calendar year
details concerning the value of FSAs. basis, thus any contributions made prior to joining Optimas need to be
You will receive an FSA Spending taken into consideration. Please contact the Beneits Solutions Center
Account debit card mailed to your for more guidance regarding your FSA program contributions.
home within two weeks after you
elect to contribute to an account. What Happens If I Don’t Use All Of The Funds In My
Account?
Your Healthcare and Dependent Care FSA contributions are subject to
a “Use-It-or-Lose-It” rule, so make sure you carefully decide how much
to set aside in your accounts. All expenses incurred during the July 2015
through June 2016 plan year must be submitted for reimbursement by
September 30, 2106. You will not receive a refund, nor be permitted to
roll unused funds over to the 2016–2017 plan year.
Optimas OE Solutions Holdings, LLC
