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IMPORTANT: If you do not elect your benefits during the annual Open Enrollment period or within 31 days of your date of hire, you will not have Roper St. Francis health plan coverage until the next year unless you have a qualified life event.
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Flexible Spending Accounts
A Flexible Spending Account (FSA) allows you to pay for health, dental, vision, prescriptions and dependent day care expenses with pre-tax dollars, which reduces your taxable income and saves you money.
There are two different kinds of Flexible Spending Accounts:
- Healthcare Spending Account—for your personal healthcare expenses (such as medical, dental or prescription co-pays or an eye exam)
- Dependent Day Care Spending Account—for dependent care expenses (such as day care for a child or adult)
Each type of FSA lets you set aside money from your paycheck on a pre-tax basis to pay eligible healthcare or dependent/ elder care expenses that you expect to pay out-of-pocket during that year. Note that the Dependent Day Care Spending Account covers only expenses related to care of dependents (such as day care)—not their medical expenses.
Deciding What to Contribute
Each year you decide how much you want to contribute to either or both accounts for the calendar year. You may contribute up to $2,600 per calendar year to the Healthcare Spending Account, and/or up to $5,000 per calendar year to the Dependent Day Care Spending Account (up to $2,500 if you are married and file separate tax returns).
- You contribute to your FSA through biweekly pre-tax payroll contributions.
- You can only change your contribution amount each year during Open Enrollment unless you have a qualifying life event change.
- You must re-enroll in your FSA(s) each year.
- New participants will receive a welcome packet and BB&T debit card.
- Our FSA administrator is Stanley, Hunt, Dupree & Rhine (SHDR).
- Your contributions are deducted from your paycheck in equal amounts during the year. Because contributions are not subject to social security tax, federal income tax and, in most cases, state and local income tax, you save money.
- You must incur eligible expenses for the Healthcare and Dependent Day Care Spending Accounts by December 31st of the current year.
- At that time, you forfeit unused expenses. However, Roper St. Francis allows you to carry over up to $500 of your Healthcare Spending Account into the 2018 Plan year.
To estimate your healthcare expenses for 2017, be sure to review your previous Explanation of Beneﬁts (EOB) or claims statements, tax receipts, expense vouchers, checkbook register, etc., for this year. Keep in mind that the health plan you choose may have an impact on your expenses for 2018.
2018 Maximum FSA Contribution Limits
- Single Insured = $2,600
- Dependent Care = $2,500/ $5,000 (if married, filing jointly)
Using Your Dependent Day Care FSA
The Dependent Day Care FSA will provide reimbursement for day care, after school care or summer day camps for a child under age 13; care for a disabled child; or care for a dependent parent incapable of self-care, provided the teammate claims the parent as a tax deduction. Access shdr.com/flex to download a claim form.
Using Your FSA – Reimbursable Expenses
Some of the expenses reimbursable through the Healthcare Spending Account include the following:
Over-the-counter (OTC) drugs and medicines (other than insulin) are reimbursable from the Healthcare FSA only if prescribed by a physician. For a complete listing of covered expenses, log on to the IRS website at irs.gov and refer to Publication 502 under Forms/Publications.
Submitting for Healthcare FSA Reimbursement
You can use your FSA Beneﬁts Access Card or submit claims to SHDR for reimbursement for eligible Healthcare FSA expenses.
What Is an FSA Benefits Access Card?
The FSA Beneﬁts Access Card acts like a debit card that can be used to pay for healthcare expenses that are eligible for reimbursement under your Healthcare Flexible Spending Account. Note that the FSA Beneﬁts Access Card does not
have a personal identiﬁcation number (PIN); therefore, whenever you use the FSA Beneﬁts Access Card you should choose CREDIT instead of debit. The card cannot be used at an ATM terminal, and obtaining cash back is not permitted.
How Does the FSA Benefits Access Card Work?
Your FSA Beneﬁts Access Card account balance is the amount you elected to set aside in your Healthcare Flexible Spending Account. Your account balance decreases each time you use your FSA Beneﬁts Access Card. Debit card transactions are limited to speciﬁc merchants based on expenses deemed eligible by the IRS. The system that processes your debit transactions only receives the total amount of your purchase from merchants such as pharmacies, physicians’ ofﬁces, dentists, and vision care providers, so you must keep your receipts. You can also submit a paper claim for reimbursement.
Simple Access to Your FSA Account
You can access your FSA by using your Beneﬁts Access Card, submitting claims online and attaching receipts, or submitting a hard copy claim form for reimbursement of eligible expenses. Because your FSA is administered by the experienced staff at SHDR, submitting claims and receiving reimbursement is easy and convenient:
- Your claims are received via fax, mail or online and are promptly entered into SHDR’s system.
- Emails are sent to conﬁrm receipt and provide status updates of your claims.
- Claim reimbursements are distributed via direct deposit or a check sent directly to your home address.
The reimbursement schedule will be provided after enrollment and will be included in your welcome packet. Beneﬁt representatives are available Monday through Friday 8 a.m. to 6 p.m. to answer your questions. You can access account information 24 hours a day at shdr.com/ﬂex or by calling toll-free 800-768-4873.
How Do I Access My Benefits Access Card Account?
- Go to www.shdr.com/flex
- Click on the FSA/HRA Logon on the upper left corner.
- Enter the required information, username and password.
Your initial username is your last name followed by the last four digits of your social security number. Your initial password is your ﬁve-digit home address zip code. After you log in, you may change your username and password by clicking on the Proﬁle tab at the top of the page and following the instructions