![]() ![]() We are excited to announce the launch of the new Mobile Pay feature! Mobile payments are quickly becoming more popular as demand for contactless transactions continue to grow. For more information on accessing your account, how to use your card, information on claims substantiation, and other helpful information view the Debit Card FAQ (PDF). ![]() Occasionally, you may need to send in other substantiation, such as a receipt, but many claims are auto-adjudicated on the spot. Payment for that service is just as easy as using a credit card, except funds are taken from your pre-funded account up to the amount of your yearly elections. By using the card at your physicians office, pharmacy and other locations, you have instant access to those funds. The convenient and easiest way to access funds is by using your MasterCard. There are several options available for gaining access to the funds you have placed into your FSA. ![]() Dependent care expenses are reimbursed from the dependent care account up to the amount actually deposited to date. Eligible health-related expense not covered by health insurance, will be reimbursed from the health account up to the amount elected for the full plan year. The dollars placed in these accounts will be deducted bi-weekly during the plan year. How Does it Work?īefore each plan year begins, employees may elect to have a portion of their salary placed in one or more of the reimbursement accounts on a before-tax basis. Maximum contribution to this account is $5,000 per year. In many cases, deducting your day care expenses on a pre-tax basis will be more of an advantage than the tax credit. Your salary reductions will be deposited into an account from which funds will be withdrawn to reimburse you for qualified, work related, dependent care expenses, or for the care of an incapacitated spouse or dependent (defined by IRS Rules, Sec. Maximum contribution to this account is $2,850 (anticipated) per year starting in 2022. Expenses may include deductibles, co-insurance, prescription co-pays, vision care, over the counter medications, certain elective surgeries, etc. Here is a detailed list of FSA Eligible Expenses (PDF). Your salary reductions will be deposited into an account from which funds will be withdrawn to reimburse for eligible health expenses incurred, by you and your eligible family members, that are not covered by insurance. Unreimbursed Eligible Health-Related Expenses Your salary reductions will be used to pay the premiums for the medical and dental plans you choose. These types of expenses include group health premiums, unreimbursed eligible health-related expenses and dependent care expenses. These programs allow employees to reduce their salary with before-tax dollars to provide for reimbursement of eligible expenses. The Flexible Spending Account provides employees the opportunity to participate in three types of benefit programs. As part of our benefit package, non-temporary employees who are regularly scheduled to work 20 or more hours per week are eligible to participate in our Section 125 Flexible Spending Account. ![]()
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