A Reimbursement Account is an employer-sponsored benefit that allows you to pay for certain medical-related expenses, dependent care expenses, plus parking and commuting services using pre-tax dollars.
That means you save money while increasing your take-home pay.
Which account is yours?
The bottom line: you get more spendable income for paying bills—or planning that much-needed vacation.
To help determine how much money you should set aside for your FSA, use the expense worksheet to calculate your out-of-pocket expenses for the year.
Your Benefits Card is a smart card, meaning certain services and transactions are automatically substantiated and require no additional action. Expenses outside of the smart card capabilities do require additional third-party documentation to be eligible for the tax benefit provided by your account(s).
To process your transaction quickly, please fill out the transaction substantiation form.
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).
A few important rules to consider before making your annual election: