1 / 9

Flexible Benefits Administration Services for

Flexible Benefits Administration Services for. What is a Flexible Spending Account. Flexible Spending Accounts save you money Lowers your taxable income Increases your spendable income Use FSA money for health care and dependent day care expenses. How Much Could You Save?.

burt
Télécharger la présentation

Flexible Benefits Administration Services for

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Flexible Benefits Administration Services for

  2. What is a Flexible Spending Account • Flexible Spending Accounts save you money • Lowers your taxable income • Increases your spendable income • Use FSA money for health care and dependent day care expenses

  3. How Much Could You Save?

  4. How Flexible Spending Accounts Work • Set aside a certain amount of your paycheck before taxes are deducted. • Money is used for eligible health care and dependent day care expenses. • You choose how much to contribute to the account.

  5. Flexible Spending Account Limits Health Care FSA Maximum Annual Contributions: $2,500 ( for August 1, 2013 to July 31, 2014.) Eligible Expenses: Deductibles, co-pays and other expense not covered by insurance Prescription drugs and medical supplies Dental, orthodontics Vision, eye glasses, contacts, eye surgery Over the counter items* *Effective 1/1/11, the list of eligible OTC items is changing per the Patient Protection and Affordable Care Act of 2010.

  6. Flexible Spending Account Limits Dependent Day Care FSA Maximum Annual Contributions: $5,000 married/joint return for August 1, 2013 to July 31, 2014. $2,500 married/separate return Eligible Expenses: Child care, non-residential summer camps, and elder care that you find necessary to work Eligible Dependents: A child under age 13 that you claim as a dependent. A spouse or other dependent who is physically or mentally incapable of caring for self.

  7. Know your plan’s details • FSA elections only made at annual enrollment, when you join the company, or have a “qualifying event” • Use-it-or-lose-it Rule • Reimbursement options: • Debit Card • Online Claim Submission • Hard-copy claims mailed or faxed

  8. Keep your Receipts • SHDR may asks for receipts based on IRS guidelines (especially for dental services) • Welcome packet will include an envelope to store your receipts • Use of debit card at certain IIAS merchants may prevent receipt request

  9. Simple Access to your FSA Account • Toll-free call center – 1-800-930-2441 8am – 6pm ET • Access account balance 24/7 1- 800-413-6706 • Interactive website – www.shdr.com/flex • Enter claim online • Access forms, eligible expense list, account balances and plan specifics • IIAS Merchant Listing

More Related