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Flexible Spending Accounts
Flexible Spending Accounts (FSA’s) are tax advantaged accounts as defined under
the Section 125 Cafeteria Plan. An FSA allows employees to set aside a portion of
their earnings, prior to Federal, State and FICA taxes, to pay for qualified medical
and dependent care costs. The maximum you may elect towards each account is $5,000
calendar per year. Please note that FSA’s are subject IRS rules and guidelines.
Employees electing a Medical Flexible Spending Account in a calendar year are allowed
to incur expenses up to March 15th of the following year. All claims must be submitted
for reimbursement no later than March 31st. Employee that elect
a Dependent Care Flexible Spending Account in a calendar year must incur and use
the money by December 31st of the year the election is made. Money not used or claimed
within the allocated time is lost per IRS rule (Use It or Loose It).
- Healthcare (Medical) Flexible Spending Accounts
Money set aside in this account may be used to pay for medical expenses not
paid for by insurance such as deductibles, co-payments and coinsurance amounts.
Employees may also use the money to pay expenses not paid by insurance such as vision
and dental services and even some over the counter medicines. The money may not
be used to pay health insurance premiums, cosmetic surgery, cosmetic items or items
that improve “general health”. IRS publication 502 outlines the guidelines of allowable
expenses. (http://www.irs.gov/)
- Whose expenses are eligible under a Healthcare FSA?
A spouse, child or anyone you claim on your Federal income taxes even if the
person is not under your health insurance coverage. As long as the person is qualified
dependent for income tax purposes, the expenses qualify for a tax break.
- How are funds withdrawn or claims reimbursed?
The employees are issued a debit card to access the FSA money directly or a
paper claim may be filed. Please note that IRS requires supporting documentation
to substantiate the charges when you use the debit card or file a claim. This means
itemized receipts and/or copies of the insurance company’s explanation of benefits
must be submitted to the FSA Administrator.
- Dependent Care Flexible Spending Accounts
Money set aside on this account may be used to pay for care of a dependent
while you work and for your spouse to work (if you are married). Most commonly this
means for child care but it also can be used for adult day care for an incapacitated
adult that lives with you. The care can be provided in your home, in someone else’s
home or in a dependent care center as long as the caregiver is not your dependent.
- Do all dependent care expenses qualify?
No, qualified dependents are those you claim as exceptions on your Federal income
taxes, including:
- Children under age 13
- A disabled spouse
- Or a person, of any age, who is unable to
take care of themselves, and who spends at least 8 hours a day in your home.
Note: You may only be reimbursed up to the amount that
you have contributed to the Dependent Care Account at the time of claim.
Beyond Benefits, Inc. is the Administrator for the Medical and Dependent Care
Flexible Spending Accounts (FSA)
Call Customer Service if you have questions regarding your FSA account at: 1-877-384-7539
Fax claims to the following toll free number: 1-877-239-6635
To check your account balance, review claims or download a Beyond Benefits claim
form online go to: www.fsaconnection.com
you will be asked to enter your social security number and a pin number which is
the last four digits of your social security number.
Beyond Benefits Claim Form (.pdf)
Beyond Benefits Card Request Form (.pdf)
