FLEXIBLE SPENDING ACCOUNTS

Flexible spending accounts allow you to pay eligible health care or dependent care expenses with pre-tax dollars. Your taxable income is reduced by the amount you contribute. Both plans are administered by Benefit Strategies.

If you enroll in the Health Care Spending Account, you will receive a debit card that may be used anywhere that accepts debit cards to purchase eligible expenses. If you enroll in the Dependent Care Assistance Program, you must submit claims with evidence of payment and you will be reimbursed via check or direct deposit (if you elect this option).

For further details go to www.benstrat.com or call 1-877-FLEXGIC.

HEALTHCARE SPENDING ACCOUNT (HCSA)

DEPENDENT CARE ASSISTANCE PROGRAM (DCAP)

  •  Effective first of the month following 60 days of employment
  • Defer $500-$5,000 per year pre-tax
  • Use for co-pays, deductibles, non-covered expenses
  • Examples of expenses include:
    • Physician Office visits
    • Prescription drug co-pays
    • Eyeglasses
    • Orthodontia and dental benefits not covered by your plan
    • Over the counter medications with physician certification
  •  Effective upon hire when you enroll
  • Defer up to $5,000 per family per year pre-tax
  • Use for child and elder care costs; after school; daycare
  • Examples of expenses include:
    • Child care centers
    • Babysitters
    • Nursery schools
    • Day camp

 ENROLLMENT INFORMATION

 When to enroll - You must enroll as a new hire during your first 31 days of employment, otherwise, you may enroll during the open enrollment period held annually every November/December. NOTE: certain family status changes may enable you to enroll other than as a new hire or during open enrollment – contact the Benefits Department for information.

 NOTE: The IRS requires that any unused funds at plan year end be forfeited. You should estimate your contributions carefully. IRS regulations do not allow same sex spouse to be a dependent on the health care spending account.