Healthcare Flexible Spending Account

  • Discovery Benefits is our vendor for the Healthcare Flexible Spending Account beginning on January 1, 2021.

     

    The Healthcare Flexible Spending Account allows you to pay medical, dental, vision, and prescription drug expenses that may or may not be covered under your health insurance plan with pre-tax dollars.  You can pay qualified expenses for dependents even if they are not a dependent on our medical plan. You can contribute a maximum of $2,750 into this account.  Discovery Benefits offers a searchable database of eligible medical, dental, and vision expenses.

     

    The account is pre-funded which means you may file claims for incurred qualified expenses even though the total amount has not been withheld from your paycheck yet. Recurring payments (same place and dollar amount) will be automatically approved after the first time the claim is substantiated. Auto approvals for purchases at big box chains like Walgreens or CVS will be recognized as an approved expense that does not require substantiation when the debit card is used. For any additional out-of-pocket expenses, participants can easily submit a claim to be reimbursed through their online account or through the mobile app.

     

    Be aware - this plan is a "use it or lose it" plan. The plan year runs from January to December. The Healthcare Flexible Spending Account has a grace period through March 15th each year to use the prior year's elected amount. Any unused portion of your FSA at the end of the grace period is forfeit.

     

    As we transition from American Fidelity to Discovery Benefits continue using your current AF card and account for 2020 plan year expenses including the grace period which runs through March 15, 2021. 

Limited Flexible Spending Account

  • Dental and vision expenses only.

    For those employees currently enrolled in the $2800 Spira Care, $2800 Blue Select Plus, or $2800 Preferred Care Blue medical plans and who contribute to an Health Savings Account (HSA), the IRS rules state that you are not eligible to participate in a Healthcare Flexible Spending Account. However, you are able to contribute pre-tax money into a Limited Flexible Spending Account. This account allows you to reimburse dental and vision expenses only. You can contribute a maximum of $2,750 into this account.

     

    The account is pre-funded which means you may file claims for incurred qualified expenses even though the total amount has not been withheld from your pay. Be aware - this plan is a "use it or lose it" plan. The plan year runs from January to December. The Healthcare Flexible Spending Account has a grace period through March 15th each year to use the prior year's elected amount. Any unused portion of your FSA at the end of the grace period is forfeit.

     

    As we transition from American Fidelity to Discovery Benefits continue using your current AF card and account for 2020 plan year expenses including the grace period which runs through March 15, 2021.

Dependent Day Care Flexible Spending Account

  • Dependent Day Care Flexible Spending Account allows you to set aside money pretax to pay for eligible out-of-pocket day care expenses or elder care expenses. Unlike the Flexible Spending Account, with this account your entire annual election is not available upfront. An eligible dependent is any member under the age of 13 that you claim as a tax dependent. The Dependent Day Care account may also be used for elder care.  You may contributed up to a maximum of $5,000 into this account each year. 

     

    Be aware - this plan is a "use it or lose it" plan.  All expenses must be incurred by December 31st of the calendar year. Any unused portion of your Dependent Day Care Account FSA at the end of the plan year is forfeited. There is no grace period.