Flexible Spending Accounts :
Flexible Spending Accounts Administered by Allegiance
Significant cost savings for health care and dependent care expenses through pre-tax payroll deductions.
Plan wisely…you are only reimbursed for actual expenses incurred. Don’t over estimate.
REMINDER: You will have until March 15, 2012 to spend all of your 2011 allocation. Reimbursements must be submitted no later than March 31, 2012.
Flexible Spending Accounts :
Flexible Spending Accounts Health Care FSA (HCFSA)
Minimum contributions of $120 per year
Maximum contribution of $5,000 per year
Joint Processing:
Joint Processing is a service for those employees who have a Providence Health Plan and a Flex Spending Account. When you are a part of Joint Processing, you receive your funds from Flex automatically.
You do not have to wait to receive your Explanation of Benefits (EOB) from the Health Plan, make copies of the EOB and then send the EOB back to Allegiance Benefit Plan Management, Inc. with a claim form to wait for your Flex re-imbursement. Total amount can be used before the employee has contributed all on the year
BUT, Joint Processing is not for everyone!
If you have a secondary insurance for anyone in your family who is also covered on your Employer's Health Plan, you should not be on Joint Processing. You must first submit claims to both insurance carriers, then send copies of the EOB’s from both carriers to the Flex Plan using a claim form.
Flexible Spending Accounts :
Flexible Spending Accounts Health Care FSA (HCFSA)
Examples of eligible expenses:
Prescription copays
Deductibles, copays, coinsurance
Dental expenses
Vision expenses
Note: beginning in 2011 some over the counter medicines are no longer covered unless you have a prescription
Flexible Spending Accounts :
Flexible Spending Accounts Health Care FSA (HCFSA) – Limited Purpose Account
You can still utilize your Health Care FSA even if you participate in the HSA but there are rules!
Limited availability for medical expenses
Can be used for medical expenses once the deductible has been met
Can be used for out of pocket vision, dental and orthodontia expenses not covered by the plan
Health Savings Account vs. Health Care FSA :
Health Savings Account vs. Health Care FSA
Flexible Spending Accounts :
Flexible Spending Accounts Dependent Care FSA (DCFSA)
Minimum contribution of $120 per year
Maximum family contribution of $5,000/year
Reason for expense: to work or be a full-time student
Eligible for
dependent child(ren) under 13
disabled dependent of any age
elderly dependent who resides with you at least 8 hours/day
Service must be for the physical care of the child, not for education, meals, or lessons such as sailing or photography, etc.
Questions about Benefits? :
Questions about Benefits? HR Service Center is here to Assist
Email: WAMTREGHRSC@providence.org
Phone: 1-888-687-3753, select option 2
Hours: Monday – Friday 6:30 a.m. – 5:00 p.m. (Pacific Standard Time)