Flexible Spending Accounts allow you to set aside some of your income on a pre-tax basis to pay for healthcare and/or daycare expenses not covered by your other benefit plans.
Allows you to save for medical, dental & vision expenses not covered by your benefit plans, including deductibles, co-payments, orthodontics, Lasik & contacts. The maximum annual contribution is $2,750 per employee. The funds are available for use at the beginning of the plan year. At the end of each year, you can ‘rollover’ up to $500 for the next plan year. Funds over $500 at year-end are forfeited as are any funds unused at the termination of employment – for see details see the ‘Plan Guide’.
allows you to save for daycare services for children under the age of 13 and/or a disabled spouse or parent, while you work. Funds can be used for daycare, pre-school, after-school care, summer day-camp, and/or elder care. The annual maximum contribution is $5,000 per family. Unlike the healthcare account, the funds for daycare must actually be in the account before you can access them.
The ‘Benny Card’ is a MasterCard brand debit card. You can access the funds in your FSA account at the time of service when you use this card. It is provided to each enrollee at no cost, with the County picking up the fee. Participants have a choice between using the ‘Benny Card’ or filing a paper claim for reimbursements.
Only new participants will receive a debit card. The card will be issued in December and will arrive in a plain, white envelope. Existing debit cards will be ‘recharged’ on the first day of January each year that you re-enroll. There is a $10 per card charge for lost, destroyed or additional cards – replacements can be obtained by contacting Chard-Snyder directly.
Chard-Snyder on-line FSA Store: You can now shop on-line at CHARD-SNYDER’s FSA STORE – avoid losing your funds at the end of the year!!!!
You must re-enroll in the FSA plans during open enrollment each year to participate in the next calendar year.