Page 10 - Hussmann- Chino Union OE Guide 2015 Plan Year
P. 10
Annual
Enrollment
Flexible
Spending Flexible Spending Accounts (FSAs)
Account Flexible Spending Accounts are a great way to set aside pre-tax
money to pay for eligible expenses. There are two options for FSAs:
Point of Clarification Healthcare and Dependent Care. The Healthcare FSA allows you
The Health FSA is for eligible to elect up to $2,550 annually on a pre-tax basis to pay for out-of-
medical, prescription drug, dental,
and vision expenses for you and pocket medical, prescription drug, dental, and vision expenses. The
your dependents Dependent Care FSA allows you to elect up to $5,000 annually on a
pre-tax basis (per household) for daycare, elder care, after-school care,
The Dependent Care FSA is for
eligible dependent day care or baby-sitting in your home (subject to IRS qualiications).
expenses for children under the
age of 13 or dependents of any Remember you must use all designated funds by the end of the year
age that are incapable of caring (“use it or lose it”) when participating in a Healthcare or Dependent
for themselves due to a physical or Care FSA. Hussmann’s plan does offer a grace period extension
mental handicap which allows an additional 75 days to claim reimbursement. If you
have money left in your Healthcare or Dependent Care FSA and no
additional expenses to claim at the end of the year, you do not have to
forfeit the balance. Instead, you can use the remaining balance to offset
expenses incurred from January 1 through March 15 of the following
year.
The irst time you enroll in the healthcare FSA, you automatically
receive a Spending Account Card (debit card). If you have enrolled in
the Healthcare FSA previously, you will use the same card year over
year. If you enroll in the Dependent Care FSA, you will not receive a
card.
Hussmann is proud to sponsor an important feature to our FSA program called the HEART Act. The HEART Act
allows “qualiied reservist distributions” to those who are called to active duty. Please see your FSA Summary Plan
Description for Details.
10
Enrollment
Flexible
Spending Flexible Spending Accounts (FSAs)
Account Flexible Spending Accounts are a great way to set aside pre-tax
money to pay for eligible expenses. There are two options for FSAs:
Point of Clarification Healthcare and Dependent Care. The Healthcare FSA allows you
The Health FSA is for eligible to elect up to $2,550 annually on a pre-tax basis to pay for out-of-
medical, prescription drug, dental,
and vision expenses for you and pocket medical, prescription drug, dental, and vision expenses. The
your dependents Dependent Care FSA allows you to elect up to $5,000 annually on a
pre-tax basis (per household) for daycare, elder care, after-school care,
The Dependent Care FSA is for
eligible dependent day care or baby-sitting in your home (subject to IRS qualiications).
expenses for children under the
age of 13 or dependents of any Remember you must use all designated funds by the end of the year
age that are incapable of caring (“use it or lose it”) when participating in a Healthcare or Dependent
for themselves due to a physical or Care FSA. Hussmann’s plan does offer a grace period extension
mental handicap which allows an additional 75 days to claim reimbursement. If you
have money left in your Healthcare or Dependent Care FSA and no
additional expenses to claim at the end of the year, you do not have to
forfeit the balance. Instead, you can use the remaining balance to offset
expenses incurred from January 1 through March 15 of the following
year.
The irst time you enroll in the healthcare FSA, you automatically
receive a Spending Account Card (debit card). If you have enrolled in
the Healthcare FSA previously, you will use the same card year over
year. If you enroll in the Dependent Care FSA, you will not receive a
card.
Hussmann is proud to sponsor an important feature to our FSA program called the HEART Act. The HEART Act
allows “qualiied reservist distributions” to those who are called to active duty. Please see your FSA Summary Plan
Description for Details.
10
