How to enroll in your Flexible Spending Account
It’s easy, just follow the simple steps below. Please note that your employer will need to be contracted with BenefitHelp Solutions for you to use this benefit.
1. To enroll in the Flexible Spending Account(s) (FSA), please contact your Human Resources (HR) or Employee Benefit department to obtain instructions on enrollment.
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 & ineligible expenses to verify that expenses you are considering for reimbursement are eligible.
a. The healthcare maximum is determined by your employer
b. The Dependent Care tax year maximum is mandated by the IRS at $5,000 per family ($2,500 if married filing separately).
3. If your employer uses forms, complete the enrollment form you obtained from HR. Sign, date and return your enrollment form to your employer. Do not send to BenefitHelp Solutions.
4. Your employer will automatically deduct the amount requested from your paycheck and send it to BenefitHelp Solutions to be deposited in your FSA account(s).
Rules and Guidelines
A few 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 life event.
- 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. If your employer offers an FSA carryover, you may be able to roll up to $500.00 into the next plan year.
- 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 vice 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.