flexible spending accounts (fsas)

Flexible Spending Accounts

(FSAs)

Flexible Spending Accounts

3 Types of Accounts•Dependent Care•Medical•Limited Medical

Flexible Spending Accounts

Common features:All accounts administered by AetnaMinimum/maximum annual

contributions:$60 minimum $5,000 maximum

Flexible Spending Accounts

Before-tax deductionsMust comply with IRS regulationsEach account separate electionNo transfers between accountsChanges during year limited to

qualifiying eventsUse it or lose itAnnual enrollment required

FSA-Dependent Care

Care for:• children under 13• disabled child of any age• disabled spouse

While you and spouse work/attend school

Not occasional babysitter

FSA-Dependent Care

Care provided in• Your home• Caregiver’s home• Care center

FSA – Dependent Care

How do you get paid?

Must submit claim for each period of care claiming

$96.15/weekCan only be reimbursed what have contributed

Maximum claim amount:

• $416.66/month

FSA–Medical

IRS eligible expenses:• Medical• Dental• Vision

For:• You• Your spouse• Your eligible dependent children• Do not have to be enrolled in NKU plans

FSA–MedicalHow do you get paid? Can be paid for more than contributedUp to annual enrolled amountDebit Card• Swipe for copayments under NKU plans if

enrolled• No additional documentation needed

File claims• All other types of expenses (deductibles,

coinsurance, etc.) must file claim• Provide Explanation of Benefits from insurance

FSA–MedicalHow do you get paid? • Direct deposit

Reduces time to receive payment Sign up at www.Aetna.com

• Streamline dental claims Eliminates FSA claim filing for dental Reduces time to receive payment Sign up at www.Aenta.com

FSA–Limited Health

If enrolled in HDHP IRS eligible expenses only for:• Dental• VisionFor:• You• Your spouse• Your eligible dependent children• Do not have to be enrolled in NKU plans

FSA–Limited Health

How do you get paid? Can be paid for more than

contributedUp to annual enrolled amountNo Debit CardMust file claims• Provide Explanation of Benefits from

insurance

FSA–Limited Health

How do you get paid? • Direct deposit

Reduces time to receive payment Sign up at www.Aetna.com

• Streamline dental claims Eliminates FSA claim filing for dental Reduces time to receive payment Sign up at www.Aenta.com

FSAs-Aetnawww.Aetna.comSign up for My NavigatorFax claimReceive email notification of

claim receiptReceive email notification when

claim paidCan opt out of paper Explanation

of Benefits

FSAs-Aetna

FSAs-Aetna

FSAs-Aetna

FSAs-Aetna

FSAs-Aetna

FSAs-Aetna