Employee Flexible Spending Account Enrollment Tips
How to enroll
Enrollment may only occur upon initial eligibility, following a qualified status change, or during PEBB open enrollment.
1. To enroll in the Flexible Spending Account(s) (FSA), please contact your Payroll department to obtain an enrollment form and determine if you are eligible to participate.
2. Determine how much you expect to spend during the plan year on childcare and medical expenses not covered by insurance by using the enrollment worksheet. You may also want to review the listing of eligible expenses and ineligible expenses to verify that expenses you are considering for reimbursement are eligible.
a. The healthcare annual maximum, determined by PEBB, is $5000.
b. The Dependent Care tax year maximum is mandated by the IRS at $5,000 per family ($2,500 if married filing separately).
3. Complete the enrollment form you obtained from Payroll by enrolling in one or more of the accounts offered by PEBB. Sign, date and return your enrollment form to your payroll office. Do not send to BenefitHelp Solutions.
4. Your agency will automatically deduct the amount requested from
your paycheck and send it to BenefitHelp Solutions to be deposited in your FSA account(s).
Important Rules to consider before making your annual election
- You cannot change or revoke your healthcare or dependent care annual election unless you experience a qualified family status change.
- Use it or lose it - All funds deducted from your paycheck must be used during the plan year or funds will be forfeited. It is very important to only deduct what you normally expect to pay for out-of-pocket expenses.
- Participation in the Flexible Spending Accounts may slightly reduce your Social Security Benefits.
- Funds cannot be moved from your healthcare to your dependent care account or visa versa.
- Only expenses incurred while you are an active participant in the Flexible Spending Accounts are eligible for reimbursement. Expenses incurred prior to your effective date or incurred after termination in the plan are not eligible for reimbursement.
