Healthcare FSA, Dependent Care FSA, Health Savings Account
性奴调教 employees can contribute to a healthcare flexible spending account (FSA), a dependent-care flexible spending account (DCFSA), or a health savings account (HSA).
Healthcare Flexible Spending Account (FSA)
A Healthcare Flexible Spending Account (FSA) is an Internal Revenue Service (IRS) regulated benefit that allows employees to use pre-tax dollars to pay for out-of-pocket qualified medical expenses. Each plan year, employees can choose how much to contribute via payroll deduction to the FSA, and have access to the funds throughout the year through ConnectYourCare. Contributions to a Flexible Spending Account are "use it or lose it."
性奴调教's FSA administrator is Optum Financial. You can contact Optum Financial at 888-339-3819 or visit
The Flexible Spending Account overview (PDF) contains valuable information regarding specific advantages of the benefit, accessing funds and additional rules and regulations.
New employees wishing to enroll must complete their elections using the "New Hire Menu" found in their Workday inbox within 31 days of their full-time hire date. Otherwise, enrollment during the plan year is permitted during the annual open enrollment period each November also using Workday.
Employees can elect or change the benefit within 31 days of a life change such as marriage or dependent birth/adoption by submitting a change benefits event in Workday. Employees can only change their FSA benefits during open enrollment and qualified life changes.
Per IRS mandates, employees wishing to participate in the Flexible Spending Plan on an annual basis must re-enroll each year during Open Enrollment.
Contributions are subject to the annual minimum of $130 and the IRS maximum of $3,200.
Participation in an FSA reduces your taxable income prior to the assessment of Social Security and all other federal, state, and local taxes.
Employees who elect the FSA will receive a payment card to use at the point of sale for out-of-pocket qualified medical expenses.
Employees may also submit reimbursement requests (claims) and substantiation documents if eligible expenses are incurred using personal funds. Employees are encouraged to register at www.connectyourcare.com for this process and to review balances and all existing claims.
Employees may take advantage of 性奴调教's 75-day plan year extension. Should employees have a remaining balance of FSA funds at the end of the traditional plan year (December 31), the remaining funds are available until March 15 of the following year.
Employees will also have up to 90 days after the plan year's end (December 31) to submit reimbursement claims (PDF) of eligible expenses incurred until the plan year extension before the remaining balances are forfeited. All claims must be submitted no later than April 30 to ConnectYourCare.
If you are moving from an FSA to an HSA under the QHDHP, the grace period does not apply. No funds can be remaining in the healthcare FSA as of December 31.
If claims are not reconciled before April 30, employees must refund the transaction amount.
Claims may be faxed to 443-681-4602.
Dependent Care Flexible Savings Account (DCFSA)
The Dependent Care Flexible Spending Account (DCFSA) is an Internal Revenue Service (IRS) regulated benefit that allows employees to use pre-tax dollars to pay for eligible out-of-pocket expenses for the care of their child(ren) from the age of birth up to age 13, an incapacitated spouse or dependent parent. Contributions to the Dependent Care Account are "use it or lose it."
性奴调教's FSA administrator is ConnectYourCare. You can contact ConnectYourCare at 888-339-3819 or visit the
The ConnectYourCare Enrollment Guide (PDF) contains valuable information that includes specific advantages of the benefit, accessing funds through reimbursement requests (claims) and additional rules and regulations.
New employees wishing to enroll must complete their elections using the "New Hire Menu" found in their Workday inbox within 31 days of their full-time hire date. Otherwise, enrollment during the plan year is permitted during the annual open enrollment period each November using Workday.
Employees can elect or change the benefit within 31 days of a life change, such as dependent birth/adoption. Employees can only make changes to their dependent care election during open enrollment and life changes.
Per IRS mandates, employees wishing to participate in a DCFSA must re-enroll on an annual basis during open enrollment.
Employees may elect up to an IRS maximum of $5,000 per calendar year (married persons filing separate returns would be limited to $2,500 each). It is important to ensure that plan-year expenses for dependent care will equal or exceed the amount of benefit elected.
Participation in a DCFSA will reduce your taxable income. Since this is a pre-tax benefit, your income is reduced prior to Social Security (FICA), federal, state, and city taxes being assessed.
Plan participants have through December 31 of the current calendar year to incur expenses. must be submitted by March 31 of the following year for reimbursement.
Employees have until December 31 to incur eligible dependent care expenses.
Employees will also have up to 90 days after the end of the plan year (December 31) to submit reimbursement claims of eligible expenses incurred until the plan year extension before remaining balances are forfeited. All claims must be submitted no later than April 30 to ConnectYourCare.
If claims are not reconciled before April 30, employees are required to refund the transaction amount.
Claims may be faxed to 443-681-4602.
Health Savings Account (HSA)
A Health Savings Account is a personal savings account that allows participants to withhold money as a payroll deduction on a pre-tax basis for qualified medical expenses.
HSAs are only available to employees currently enrolled in a Qualified High Deductible Health Plan (QHDHP) offered through 性奴调教.
性奴调教's HSA administrator is Optum Bank. You can contact Optum Bank at 800-791-9361 or visit the .
You are only eligible for a Health Savings Account if all of the statements below are true:
- I have elected an HDHP (High Deductible Health Plan).
- I am NOT covered by any other health plan (such as a spouse鈥檚 full Healthcare FSA or VA medical benefits, excluding service-related disabilities).
- I am NOT enrolled in Medicare or Tricare.
- I am NOT a dependent on another person鈥檚 tax return.
Newly hired employees wishing to receive the employer contribution must submit their new hire elections via Workday within 31 days of their full-time employment date. Once elected in Workday, the Benefits Department will open an account on your behalf.
Enrollment into the plan may occur at any time during the plan year; however, the employer contribution will not be granted outside of the new hire or open enrollment period.
Due to IRS regulations, employees wishing to contribute to their HSA Plan must re-enroll each year, but account balances will remain from year to year.
You can change your election at any time throughout the year through the "HSA contribution change" event in Workday. Please submit this before the end of a payroll period to ensure timely processing.
Contributions are subject to the IRS annual maximum of $4,150 for employee-only coverage and $8,300 for family coverage, less the employer contribution ($400 for employee only, $800 for family) to your HSA. If you are 55 or older by the end of the calendar year, you can make an additional contribution of $1,000.
To receive the employer contribution funds as a newly hired employee, you must make the HSA election in Workday. You will not automatically be enrolled in the HSA because you selected the Qualified High Deductible Health Plan (QHDHP). There is no minimum amount to contribute to your HSA, and employees would still be eligible for the employer contribution for the plan year as long as it is elected. This election is required in order for an account to be created.
To receive the annual employer contribution funds as an existing employee, you must actively make the HSA election in Workday each year during Open Enrollment. You will not automatically be enrolled in the HSA because you selected the Qualified High Deductible Health Plan (QHDHP). There is no minimum amount to contribute to your HSA, and employees would still be eligible for the employer contribution for the plan year as long as it is elected during Open Enrollment. Employer contribution funds will become available with the first payroll of the year.
Employees who elect the HSA will receive a debit card to use at the point of sale for out-of-pocket qualified medical expenses.