Page 12 - 2016 Enrollment
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Flexible Spending Accounts (FSAs)
2016 IRS FSA Limits
Healthcare FSA—$2,550 Flexible Spending Accounts allow you to pay for eligible expenses
Dependent Care FSA—$5,000 through pre-tax payroll deductions. Nortek offers two types of Flexible
($2,500 if married and iling Spending Accounts.
separately)
You must make a new election for The Healthcare FSA program allow you to set aside money to pay
the entire plan year. Your election expenses not covered by your medical insurance. You can use the
cannot exceed annual IRS mandated Healthcare FSA to help pay for things like coinsurance, prescriptions, and
maximum limits. medical equipment. While it’s not required you elect health insurance to
Your entire healthcare FSA election participate, if you do, only employees electing coverage in the HRA plan
is available to you on the irst day can access the Healthcare FSA program.
of the plan year if you need it. Your
dependent care FSA election is
available as you accrue your election Your Dependent Care FSA deducts a portion of your paycheck to use
during the plan year through payroll for dependent care for children up to age 13, a disabled dependent of
deductions. any age, or a disabled spouse. Some common examples include day care
and after school program costs. You do not have to enroll in a particular
Claims Submission medical plan or enroll in any speciic beneit programs to be eligible to
All eligible expenses must be
incurred by December 31 and must participate in this program.
be submitted to UnitedHealthcare for
reimbursement by March 31, 2017. Our FSA program is administered through UnitedHealthcare (UHC).
FSA claim forms are available on Since UHC also administers our account-based medical programs, if you
the Nortek Employee Portal or at enroll in one of our UHC plans and elect to participate in the Healthcare
www.myuhc.com. FSA program you can manage your medical and Healthcare FSA claims at
Reimbursements from your FSA the same time through myuhc.com. UHC will automatically reimburse you
accounts can be processed when for eligible medical expenses when processing your medical claims.
you submit either a paper form or
online submission through myuhc.
com. Through www.myuhc.com you Healthcare FSA $500 Rollover
can set up convenient direct deposit All eligible expenses must be incurred by December 31 and must be
reimbursements to your account. If
you do not set up direct deposits, submitted to UnitedHealthcare for reimbursement by March 31, 2017.
reimbursements will be mailed as a FSA claim forms are available on the Nortek Employee Portal or at
check to you. myuhc.com. However, our FSA program includes a $500 rollover
provision. You can rollover up to $500 of unused FSA dollars into your
account to use next year. The amount you rollover is in addition to your
regular annual election. You must re-enroll in the Healthcare FSA for
the 2017 plan year in order to have unused funds (up to $500) rollover to
2017.
Nortek
Flexible Spending Accounts (FSAs)
2016 IRS FSA Limits
Healthcare FSA—$2,550 Flexible Spending Accounts allow you to pay for eligible expenses
Dependent Care FSA—$5,000 through pre-tax payroll deductions. Nortek offers two types of Flexible
($2,500 if married and iling Spending Accounts.
separately)
You must make a new election for The Healthcare FSA program allow you to set aside money to pay
the entire plan year. Your election expenses not covered by your medical insurance. You can use the
cannot exceed annual IRS mandated Healthcare FSA to help pay for things like coinsurance, prescriptions, and
maximum limits. medical equipment. While it’s not required you elect health insurance to
Your entire healthcare FSA election participate, if you do, only employees electing coverage in the HRA plan
is available to you on the irst day can access the Healthcare FSA program.
of the plan year if you need it. Your
dependent care FSA election is
available as you accrue your election Your Dependent Care FSA deducts a portion of your paycheck to use
during the plan year through payroll for dependent care for children up to age 13, a disabled dependent of
deductions. any age, or a disabled spouse. Some common examples include day care
and after school program costs. You do not have to enroll in a particular
Claims Submission medical plan or enroll in any speciic beneit programs to be eligible to
All eligible expenses must be
incurred by December 31 and must participate in this program.
be submitted to UnitedHealthcare for
reimbursement by March 31, 2017. Our FSA program is administered through UnitedHealthcare (UHC).
FSA claim forms are available on Since UHC also administers our account-based medical programs, if you
the Nortek Employee Portal or at enroll in one of our UHC plans and elect to participate in the Healthcare
www.myuhc.com. FSA program you can manage your medical and Healthcare FSA claims at
Reimbursements from your FSA the same time through myuhc.com. UHC will automatically reimburse you
accounts can be processed when for eligible medical expenses when processing your medical claims.
you submit either a paper form or
online submission through myuhc.
com. Through www.myuhc.com you Healthcare FSA $500 Rollover
can set up convenient direct deposit All eligible expenses must be incurred by December 31 and must be
reimbursements to your account. If
you do not set up direct deposits, submitted to UnitedHealthcare for reimbursement by March 31, 2017.
reimbursements will be mailed as a FSA claim forms are available on the Nortek Employee Portal or at
check to you. myuhc.com. However, our FSA program includes a $500 rollover
provision. You can rollover up to $500 of unused FSA dollars into your
account to use next year. The amount you rollover is in addition to your
regular annual election. You must re-enroll in the Healthcare FSA for
the 2017 plan year in order to have unused funds (up to $500) rollover to
2017.
Nortek
