Flexible Spending Accounts

Effective June 1, 2011

MEDICAL EXPENSE ACCOUNT

• Pre-tax (FIT, SIT, FICA)
• Annual April Election for June 1st effective date
• Family Status Change
• $120 Minimum/$4,200 Maximum
• Amount elected is available as of June 1st
• Must incur expense between June 1 and May 31, of following year, and submit for reimbursement within 90 days of May 31 (August 31). 
• Claims processed daily

Medical Expense Account - Examples of Medical Expenses

• Deductibles, Cost Share amounts and Co-pays for Medical, Dental or Prescription Drugs
• Orthodontia services
• Radial Keratotomy Surgery (laser eye surgery)
• Smoking cessation programs
• Hearing devices and batteries
• Contact lens supplies - cleaning solution, etc.

Medical Expense Account - Example

DEPENDENT CARE ACCOUNT

• Pretax (FIT, SIT, FICA)
• Available for Children age 13 and under
• Annual April Election for June 1 effective date
• Family Status, Needs or Provider Change
• $300 Minimum; $5,000 Maximum (per household)
• Must incur expense between June 1 and May 31, of following year, and submit for reimbursement within 90 day, or by August 31
• Reimbursed up to account balance
• Claims processed daily

Dependent Care Account - Example

Flexible Spending Accounts - Example

Annual Open Enrollment

• April of each year for June 1 effective date
• Can add or change election during Annual Enrollment