flexible spending account
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Flexible Spending Account. The more you know about Flexible Spending Accounts The more you save!. What is a Flexible Spending Account?. - PowerPoint PPT PresentationTRANSCRIPT
Flexible Spending Account
The more you know about Flexible Spending Accounts
The more you save!
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What is a Flexible Spending Account?
An FSA is a free & voluntary benefit that allows you to set aside pre-tax dollars to reimburse out-of-pocket medical, dental, vision, and dependent care expenses.
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Pre-tax Deductions
Elections are withdrawn from your paycheck evenly throughout the year on a pre-tax basis. Benefit: Save 25-30% on pre-tax dollars
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Eligible Expenses
Per IRS regulations, the following, while not intended to be complete, illustrates examples of eligible medical or medical-related expenses. Expenses must be incurred during the Plan Year from which you are requesting reimbursement. Expenses are considered incurred when service is rendered, not when service is billed or payment is made. Expenses cannot be reimbursed in advance of the date service is rendered.
AcupunctureAmbulance feesBraille – books and magazinesBreast PumpChildbirth classes – mother-to-be expenses only; partner’s expenses not eligibleChiropractic careCoinsuranceContact lens, solutions, and cleanersCrutchesDeductiblesDental feesDenturesDenture adhesivesDiagnostic testing feesEyeglasses, including examination fee
•Guide dog •Hearing aids and batteries•Hospital bills•Insulin and diabetic supplies•Laboratory fees•Laetrile by prescription•Nurse fees•Obstetrical expenses•Operations•Orthodontia•Orthopedic shoes•Osteopath fees•Oxygen•Physician fees•Practical nurse fees•Prescribed drugs–see cosmetic exceptions below•Psychiatric care
•Psychologist fees or individual therapy•Radial keratotomy/Laser eye surgery •Routine physicals•Special communication equipment for the deaf•Smoking cessation prescriptions•Special plumbing for the handicapped•Surgical fees•Therapeutic care for drug and alcohol addiction•Therapy treatments, prescribed•Transplants•Transportation expenses/mileage to receive medical care or services •Tuition at special school for physically or mentally impaired•Wheelchairs•X-rays
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Cosmetic procedures are not eligible FSA Expenses
Ineligible Expenses
Teeth Whitening Not an FSA Eligible
Expense
MassagesMust be Medically
Necessary & Require a Doctor’s Letter
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Who is Eligible to ParticipateTo participate in an FSA , you must be eligible to enroll in your company’s group health insurance.
Example: You may still participate in your FSA benefit if you are eligible for your company’s group health insurance, but do not enroll because your coverage is through your spouses employer.
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Who Can Incur Expenses
Expenses can be incurred by:ParticipantSpouseDependent
Definition of a dependent: Child up to the age of 26, does not have to live at home, does not have to be a full-time student, and may be married.
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When Are Funds AvailableYour entire medical FSA election is available to you on the first day of the plan year.
Example: If your plan year start date is 1/1/2014, on that same day, you are eligible to use all of the funds in your account, even though your contributions will be deducted from your payroll check throughout the year.
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How to Submit Claims
Employee PortalLogin online at www.beneflexhr.comSubmit claims, view account balance,
review claim history, sign up for direct deposit, & update your profile
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How to Submit Claims
BeneFlexHR Mobile AppApp is available for all iphones,
ipads, and Android devices. Submit medical FSA claims, check
account balances, upload pictures of receipts, and receive text alerts.
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How to Submit Claims
Customer ServiceOffice Hours 7:00 a.m. to 6:00 p.m. CSTPhone: 314-909-6979800-631-3539 (toll free)Email: [email protected]
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Claims Processing
Deadline for claims processing is Tuesday at 3:00 p.m. CST.
Claims submitted by the Tuesday deadline will be paid on Thursday via check or direct deposit.
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Claim Form
Download at www.beneflexhr.com. Click on “Employee” and then “Printable Forms”.
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Over-the-Counter Eligible Expenses
OVER-THE-COUNTER ITEMSWatch for updates at www.beneflexhr.com
Eligible without a Doctor’s Prescription Example of Over-the-Counter Items that require a Doctor’s Prescription
• Asthma flow meters• Bandages• Blood pressure
monitors• Cholesterol tests• Contact lens solution• Crutches• Denture care products• Diabetes care:
Blood test strips, glucose kits,
monitors and testers• Eyeglasses• First Aid kits
• Gauze and gauze pads • Heart rate monitors• Heating pads• Incontinence supplies
for adults• Medical bracelets &
necklaces• Medical tape• Nebulizers• Orthopedic shoe
inserts• Sunscreen (15+ SPF)• Supports and braces• Thermometers
• Acid controllers• Allergy & Sinus• Antibiotic products• Anti-diarrheals• Anti-gas• Anti-itch & Insect bite• Anti-parasitic
treatments• Baby rash
ointments/creams• Callous and corn
removers• Cold sore remedies• Cough, cold & flu• Digestive aids• Eye drops
• Feminine anti-fungal/anti-itch
• Hemorrhoidal preps• Hydrogen peroxide• Laxatives• Nasal strips• Ointments• Pain relief• Respiratory treatments• Rubbing alcohol• Sleep aids & Sedatives• Sunburn cream• Stomach remedies• Wart removal products
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Requirements for Over-the-Counter Drugs
Over-the-Counter (OTC) drugs – Doctor’s prescription required
When and who sold the product (date, name & address)
Type of OTC was purchased – *Must show product or brand name
Amount of charge*If the receipt does not show the name of the
product you can write the product name on the receipt.
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Dependent Care
Daycare expenses for a dependent includes; child care expenses for dependent children under the age of 13 years old or care for a dependent that is not mentally or physically able of caring for themselves .
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Dependent Care ExpensesExamples: Before/After School Programs Summer Camps (not overnight) In-Home Daycare Adult Day Care Programs
Must reside with you at least 6 or more months of the year.
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Dependent Care
Maximum Election: $5,000 per year/per household
Individual or facility must reflect income on tax returns. Claim form must reflect a Social Security Number or Federal Tax ID Number of the provider.
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Dependent Care ReimbursementManual claims must be submitted to BeneFLEX for reimbursement via the Employee Portal, fax, or mail.
Dependent Care elections are not loaded on the Benny Card.
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General Program Rules
1. Must make an election each year to participate.
2. Only way to change your election during the plan year is to have a Life Changing or Qualifying Event.
Examples of a Qualifying Event: Marriage, divorce, birth of a child, adoption of a child, or spouse loses his/her job.
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Questions
10805 Sunset Office Drive, Ste. 401St. Louis, Mo 63127
Phone: 314.909.6979Toll Free: 800.631.3539
Email: [email protected]: www.beneflexhr.com