Employee Benefits Brochure 2015-2016.pdf

FLEXIBLE SPENDINGACCOUNT (FSA)FSAs can help save you money on eligible out-ofpocketMedical, Dental, Vision and dependent careexpenses. You can contribute pre-tax dollars to theseaccounts during the year, and then withdraw moneyto reimburse yourself for those expenses as you incurthem. You never pay taxes on the money youcontribute to an FSA.Important Note: Due to Internal Revenue Service (IRS)regulations, there are different rules regarding your abilityto roll over unused money from one plan year to the next,so please plan carefully.HEALTH CARE FSAYour election for the Health Care FSA runs fromJuly 1st – June 30th of the following year. The HealthCare FSA, administered by Discovery Benefits, can beused to pay eligible health care expenses not coveredby your Medical, Dental and Vision plans. You cancontribute up to $2,550 to your Health Care FSA andmay roll over up to $500 to the following plan year.Eligible expenses include:■■Copays■■Deductibles and coinsurance■■Eyeglasses and contacts■■Hearing Aids■■Certain over-the-counter medications(if you have a prescription)DEPENDENT CARE FSAThe Dependent Care FSA, administered by DiscoveryBenefits, runs from July 1st – June 30th of the followingyear. The Dependent Care FSA can be used to payeligible dependent care expenses (not dependenthealth care expenses) for a child or elderly dependent(e.g., child care for children up to the age of 13). Youcan contribute up to $5,000 to your Dependent CareFSA; however, the IRS DOES NOT permit you to rollover any unused money from one plan year to thenext. If you don’t use the money in your DependentCare FSA during the plan year you will lose it.Eligible expenses include:■■Care for children under 13 years of age whoqualify as dependents■■Care for a spouse who is physically or mentallyincapable of taking care of himself/herself■■Care for qualifying family members incapable ofself-support and who qualify as your dependentFor more details about the Dependent Care FSA, visitthe Discovery Benefits website,www.discoverybenefits.com or call 866-451-3399.Important note: You must actively enroll during theannual Open Enrollment period to participate in one orboth of the FSAs. Your FSA election does not roll over fromone year to another without active re-enrollment.For a comprehensive list of eligible expenses, refer tothe Discovery Benefits website,www.discoverybenefits.com or call 866-451-3399.DUE TO HEALTH CARE REFORM, the Health Care FSA can no longer be used to reimburseover-the-counter supplies and medications, unless you have a prescription for these supplies,such as for daily low dose aspirin or insulin supplies.9