Flexible Spending Accounts
Flexible spending accounts allow you to be reimbursed for certain expenses without having federal income and Social Security taxes deducted from your account contributions.
There are two types of flexible spending accounts:
- Health Care Flexible Spending Account
To reimburse health care expenses for yourself and your family that are not paid from some other source
- Dependent Care Flexible Spending Account
To reimburse dependent care expenses that make it possible for you to work; (if you're married, generally, both you and your spouse must work to participate).
Participating in a Flexible Spending Account
- Estimate your expenses for the Plan Year (July 1 - June 30) and enroll in an FSA for that amount. The money deducted from your paycheck will be pre-tax, so you don't pay FiCA or Federal Income Tax.
- This benefit operates on a plan year basis. The service dates for expenses you claim from the spending accounts must be between July 1 and June 30.
- You may begin to submit reimbursement requests for dependent care expenses when both the balance in your account and your eligible expenses are at least $25. If your request exceeds the balance, you are reimbursed up to the balance in your account. The remainder is paid as funds become available.
- Open Enrollment is the time period before the start of each plan year to enroll in a flexible spending account. You must enroll each year to continue participation in the plan.
- You must enroll for the full plan year.
- You can change your election during the plan only if your change is a result of certain employment or family status changes.
- You may begin to submit reimbursement requests for health care expenses when eligible expenses are at least $25 regardless of the balance in your account. You will be reimbursed for the amount of your request up to the total amount allocated to your account for the plan year.
- You may begin to submit reimbursement requests for dependent care expenses when both the balance in your account and your eligible expenses are at least $25. If your request exceeds the balance, you are reimbursed up to the balance in your account. The remainder is paid as funds become available.
- You have three months following the end of the plan year to claim reimbursement of expenses incurred during the previous plan year. There is no minimum claim amount required for claims filed after the end of the plan year.
- There is a Grace Period of 2 months after the end of the plan year in which you can continue to incur claims. For the current plan year that ends June 30, this means you can submit claims for expenses incurred through September 15, 2008.
Reimbursements
- Complete a claim form below and attach the proper documentation to receive reimbursement. The documentation needs to show the date of service, cost and the type of expense you are claiming. Bills from providers or statements from your insurance company are acceptable forms of documentation. Cancelled checks, credit or debit card receipts are usually not acceptable.
- Fax or mail the claim to Flex-Plan Services at (425) 451-7002 or Flex-Plan Services, PO Box 70366, Bellevue, WA 98007.
- Claims are processed weekly and reimbursement checks will be mailed to your home address, or deposited to your bank account if you choose the direct deposit option.
- You can choose to purchase the Benny Card, a debit card that allows direct electronic payment of qualifying medical expenses.