Page 22 - Saddleback EE Guide 07-20 v.7 FINAL

Flexible Spending

Accounts

You can set aside money in HealthComp’s Flexible Spending
Accounts (FSA) before taxes are deducted to pay for certain Important FSA Rules
health and dependent care expenses, lowering your taxable
income and increasing your take home pay. Only expenses for Plan Year: July 1 through June 30
services incurred during the plan year and grace period are
eligible for reimbursement from your accounts. Because FSAs can give you a significant tax
advantage, they must be administered
You and your eligible dependents over the age of 18 can according to specific IRS rules:
receive a debit card to be used at your provider’s offices to
pay for Medical, Pharmacy, Dental, and Vision expenses, and
at retail stores to pay for eligible over-the-counter expenses. Health Care FSA
You can also use your debit card with daycare providers if The Healthcare FSA includes a 2.5 month
they accept swipe payments. There is no cost to you and your grace period. You can incur claims through
eligible dependents to have a debit card as Saddleback Church September 15th and must file claims by
covers the administration fees. There is a $10 fee to replace a September 30th of each benefit year.
card.

Please remember that if you are using your debit card, you Dependent Care FSA
must save your receipts, just in case HealthComp needs a Unused funds will NOT be returned to you or
copy for verification. Also, all receipts should be itemized to carried over to the following year. You must
reflect what product or service was purchased. Credit card incur claims by June 30th of each benefit
receipts are not sufficient per IRS guidelines. year.

Health Care FSA
This plan is used to pay for expenses not covered under your
health plans, such as deductibles, coinsurance, copays and
expenses that exceed plan limits. Employees may defer up to
$2,750 pre-tax per benefit year. Eligible expenses include:

Educational Video
Flexible Spending Accounts
http://video.burnhambenefits.com/fsa/

Coinsurance, Medical and Dental Eye Exams,
Copays and Prescriptions and Eyeglasses and
Deductibles Orthodontia Lasik Eye
Surgery
Dependent Care FSA Accessing Your FSA
This plan is used to pay for eligible expenses you incur for Transaction History
child care, or for the care of a disabled dependent, while you Log in to https://
work. Employees may defer up to $5,000 pre-tax per year. hconline.healthcomp.com.
Eligible expenses include: • First Time Users: In the upper-
right corner, click Sign Up.
From the dropdown menu, click
Member. This will open the
New User Registration wizard.
Licensed nursery schools, Adult daycare facilities • Returning Users: Enter your
user name and password to
qualified childcare centers, continue.
after school programs,
summer camps (under age
13), preschool

22 Employee Benefits