Flexible Spending Accounts

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 $212.50, for a total of $2,550 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.

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.