2013 fsa plan year. types of flexible spending accounts  you can elect one or both types of...

Download 2013 FSA Plan Year. Types of Flexible Spending Accounts  You can elect one or both types of Flexible Spending Accounts: –Medical FSA Co-Payments/Co-insurance/Deductibles

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  • Slide 1
  • 2013 FSA Plan Year
  • Slide 2
  • Types of Flexible Spending Accounts You can elect one or both types of Flexible Spending Accounts: Medical FSA Co-Payments/Co-insurance/Deductibles Prescription Drugs Allergy Injections Prescription Glasses/Contacts Dental cleanings, fillings, crowns, etc. Orthodontia Over-the-Counter drugs And Much More! Dependent Care FSA Child Care Nursery School Before/After School Care Adult Care In-Home Dependent Care
  • Slide 3
  • How much can I elect for a year? Medical Flexible Spending Account For reimbursement of eligible out-of-pocket medical expenses up to $2500 Dependent Care Flexible Spending Account For reimbursement of eligible out-of-pocket dependent care expenses up to $5,000 for this short plan year (depending upon your IRS filing status) Be conservative with your elections: unused dollars are forfeited at the end of each plan year You cannot change your election during the plan year unless you have a qualified status change Includes marriage, divorce, birth of child
  • Slide 4
  • Tax Savings Example Medical FSA
  • Slide 5
  • Short Plan Year This year is a great opportunity to try the FSA without a full years commitment January 1-September 30, 2013 Extended grace period through Dec 15, 2013
  • Slide 6
  • Eligible Over-The-Counter (OTC) Items The following types of items remain fully eligible: Birth ControlHearing Aid Batteries Contact Lens SolutionHeat Wraps Denture AdhesivesHeating Pads Ear SuppliesInsulin & Diabetic Supplies First Aid SuppliesAdult Incontinence Products Health MonitorsSupports/Braces
  • Slide 7
  • Eligible Over-The-Counter (OTC) Items Requiring a Prescription The following types of items require you to submit a prescription to BRI if you wish to be reimbursed with your FSA funds: Acne MedicationsToothache relievers Allergy & Sinus MedicationsLactose Intolerance Pills Antibiotic ProductsMotion Sickness Pills Anti-fungal MedicationsPain Relief (e.g. Aspirin) Baby Rash OintmentsSleep Aids & Sedatives Cold, Cough & Flu MedicationsStomach Remedies
  • Slide 8
  • How To Use Beniversal for Medical Expenses Use at qualified merchants (pharmacy, doctor, dentist, vision, etc.) If prompted at the point of sale, choose credit not debit Always retain your receipts
  • Slide 9
  • Substantiation Process If we cannot match the charge to your plan summary, we may require substantiation. If so, you will receive an email from BRI asking for a receipt or an Explanation of Benefits (EOB) You can send it to us by Fax, uploading it online, or from your smart phone with the BRI app Doctor and ER visits will require an EOB showing the bill has been processed through your carrier
  • Slide 10
  • Save Your Receipts!
  • Slide 11
  • Cash Reimbursement Claims Submit reimbursement claims for all Dependent Care expenses and those Medical expenses for which you could not use your Beniversal card Reimbursement is available in two ways: A check mailed to your home address Direct deposit into your checking/savings account (you can set up direct deposit via your online account or by mailing or faxing the direct deposit authorization form)
  • Slide 12
  • Dependent Care Eligibility Care must be for dependents under the age of 13, or an adult dependent incapable of self-care Care must enable you (and your spouse if you are married) to work, look for work, or attend school full-time Dependent Care FSA vs. Tax Credit on your 1040 (Talk to your accountant to determine which is of greater benefit to you)
  • Slide 13
  • Tax Savings Example Dependent Care FSA
  • Slide 14
  • BRI Phone App
  • Slide 15
  • Click on Participants Login at www.benefitresource.com
  • Slide 16
  • Enter your Company Code = serenalily Member ID = SS# Password = Home Zip Code (unless previously changed)
  • Slide 17
  • Your Home Page Your home page allows you to resolve receipt requests, view a table of eligible expenses, review your account balance and transaction detail, submit claims, set up direct deposit and obtain any forms you may need.
  • Slide 18
  • Turn your enrollment form into Leigh by Friday, November 30 Payroll deductions will occur in equal amounts from each semi-monthly paycheck beginning in January 2013 You should receive your Beniversal cards by the end of December unless you already have a card. You have until March 15, 2013 to incur expenses for your 2012 plan year elections. Submit claims for expenses incurred during the 2012 plan year by May 15, 2013 to Paychex. You can continue to use your card for your 2013 elections through 9/30/13, and submit receipts for expenses incurred by 12/15/13 through 1/15/14. Important Dates
  • Slide 19
  • Commuter Benefit Plan Featuring Beniversal Card Technology
  • Slide 20
  • Commuter Benefits Separate benefits are available for mass transit and qualified parking Reimbursable business expenses do not qualify Depending on your tax bracket, you can save up to 40% on your commuting costs Pre-tax monthly limits are $125 for transit and $240 for parking elections
  • Slide 21
  • Example of Tax Savings Based on 28% tax bracket
  • Slide 22
  • Eligible and Ineligible Expenses Eligible expenses include the following work-related commuting costs: -Buses-Vanpools -Trains/Subways-Parking -Ferries Ineligible expenses include the following: -Taxis-Fuel -Carpools-Tolls -Telecommuting
  • Slide 23
  • The Beniversal Card Stored-Value MasterCard Holds the value of your payroll deductions Use it to pay for your transit and parking expenses
  • Slide 24
  • How To Use Beniversal Can be used only at mass transit and parking vendors that accept MasterCard Contains two purses: Mass Transit & Parking Unused balances rollover every month No credit check or impact on your credit report Purchases limited to card balance If prompted at a ticket vending machine, select CREDIT Lost/stolen cards should be reported immediately
  • Slide 25
  • You will receive your Beniversal card toward the end of the month following enrollment Do not throw away this envelopeit contains your card! To activate your card, call the number on the card activation label Beniversal MasterCard
  • Slide 26
  • Cash Reimbursement If your vendor does not accept MasterCard, pay with cash or check Access your Beniversal account funds by submitting a reimbursement claim Claims may be submitted online, mobile app, via mail or fax (claim forms are available online if submitting via mail or fax) Attach proof of payment if available Submit the claim to BRI within 180 days of incurring the expense You have a choice to receive reimbursement via a check or direct deposit (submit the Direct Deposit Authorization Form if choosing this method)
  • Slide 27
  • Cash Reimbursement Claim Form
  • Slide 28
  • BRI Phone App
  • Slide 29
  • Using Beniversal for San Francisco Bay- area Transit The San Francisco Bay area has a number of different options that allow you to use your Beniversal card to purchase passes and fares. The regional Clipper Card is your most convenient option
  • Slide 30
  • How do I add value to Clipper? You can use your Beniversal card to add value to a Clipper Card in the following ways: Set up Autoload through your Clipper online account: each time your pass is due to expire or whenever your E-Cash balance runs low, Clipper will automatically charge your Beniversal card to reload passes and/or E-Cash value to your Clipper Card Use the Add Value Machines, which are located at many BART stations such as Powell Street, Civic Center and Montgomery Street, as well as most ferry terminals Call Clipper Customer Service at 1-877-878-8883
  • Slide 31
  • How to Pay for Your Daily BART Parking Park in any FEE space in the BART station parking lot (do not park in permit only) Place your hang tag on your rear-view mirror with the serial number facing forward After you pass through the fare gates, look for the EZ Rider Parking Validation Machine Touch your Clipper card to the sensor disk. You will see OK on the display when complete Thats all there is to it! You dont have to remember your stall number or carry extra change.
  • Slide 32
  • BART Parking: Clipper & EZ Rider You can pay for BART parking with your Clipper Card, although the actual charges will be billed to an EZ Rider Parking Account To set up an EZ Rider Parking Account, go to https://ezrider.bart.gov/ezrider/ and click Sign Up; at which point you will indicate at which BART station you park and also provide your Clipper Cards serial numberhttps://ezrider.bart.gov/ezrider/ Your credit card will be charged $2 for the hang tag and approximately $40, so be sure you use a card with enough funds. Your Beniversal card will be charged automatically whenever your EZ Rider Parking account balance falls below $10., typically in increments of $40. When making a parking election for your Beniversal card, please keep these autoload charges in mind.
  • Slide 33
  • Using Beniversal for Parking Expenses Use your Beniversal at any parking vendor that accepts MasterCard Or pay the p

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