Page 11 - Westmark BG 2020

BENEFITS

Flexible Spending Accounts (FSA)

You can set aside money in Flexible Spending Accounts (FSA) before taxes are deducted to pay for certain health and dependent
care expenses, lowering your taxable income and increasing your take home pay. Only expenses for services incurred during the
plan year are eligible for reimbursement from your accounts. You choose to receive reimbursement for your eligible expenses by
direct deposit or reimbursement check. You must re-enroll each year, even if you do not plan to change the amount(s) set aside.

Health Care Spending Account (HCSA): Employees may defer up to $2,750 (pre-tax) per year, to be reimbursed for
prescriptions, insurance deductibles, co-payments, glasses and contact lenses, orthodontia and other health care related expenses
not covered by insurance. Participants may carry over up to $550 of the unused funds to the following plan year. The funds must
be used with the following plan year or they will be forfeited.

Dependent Care Assistance Plan (DCAP): Employees may defer up to $5,000 (pre-tax) per year, to pay for eligible child
and/or elder care expenses.

IMPORTANT NOTE ABOUT THE FSA:
FSAs offer sizable tax advantages. The trade-off is that these accounts are subject to strict IRS regulations, including the use-it-or-
lose-it rule. According to this rule, you must forfeit any money left in your account(s) after your expenses for the year have been
reimbursed. The IRS does not allow the return of unused account balances at the end of the plan year, and only up to $500 can be
carried over for the HCSA. For the DCAP, remaining balances cannot be carried forward to a future plan year. If you are unable to
estimate your health care and dependent care expenses accurately, it is better to be conservative and underestimate rather than
overestimate your expenses.

Employee Assistance

Accessing the EAP Program (EAP)
To access EAP benefits, go to The Employee Assistance Program (EAP) through Guardian provides you
www.ibhworklife.com or and your household members with free, confidential assistance to help
you may call (800) 386-7055 with personal or professional problems that may interfere with work or
to be immediately connected family responsibilities and obligations. Services are available 24 hours a
to an EAP counselor. day, 7 days a week via a toll-free nationwide number. You and your house-
• User name: Matters. hold members can receive up to 3 counseling sessions per person, per
• Password: wlm70101. problem, per year.

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