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Flexible
Spending Accounts
Health
Care Reimbursement Account (HCRA) |
Dependent Care Reimbursement Account (DCRA)
Health
Care Reimbursement Account
This
flexible spending account allows employees to pay for eligible
health and dental expenses not covered by their insurance
with pretax dollars for themselves and their dependents.
All
employees are eligible to participate. There is a 60-day window
for new employees; if this period is missed, the employee
must enroll during the annual Open Enrollment. Participants
must re-enroll each year during the Open Enrollment period
for the following calendar year.
The
minimum monthly deduction is $20.00, and the maximum is $416.66,
for a total of $5,000 per calendar year. A claim form must
be submitted, with supporting documentation, to ASI, the third
party administrator, for reimbursement. Deduction calculations
must be done carefully, as money which is not spent by the
end of the calendar year is not rolled into the next year.
There is also a $1.00 monthly after-tax administrative fee
charged for each account.
Additional
Information:
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Dependent
Care Reimbursement Account
This
flexible spending account allows employees to pay for day
care expenses for children under 13, or an incapacitated spouse
or other dependent adult who lives with the employee.
All
employees are eligible to participate. There is a 60-day enrollment
window for new employees; if this is missed, the employee
must enroll during Open Enrollment. Participants must re-enroll
each year during the annual Open Enrollment period for the
following calendar year.
The
minimum monthly deduction is $20.00, and the maximum is $416.66,
for a total of $5,000 per calendar year. A claim form must
be submitted, with supporting documentation, to ASI, the third
party administrator, for reimbursement. Deduction calculations
must be done carefully, as money which is not spent by the
end of the calendar year is not rolled into the next year.
There is also a $1.00 monthly after-tax administrative fee
charged for each account.
Additional
Information:
back
to the top |
