YOU MUST ENROLL OR RE-ENROLL TO HAVE THIS FSA BENEFIT EACH YEAR. IF YOU DO NOT ENROLL, YOU WILL NOT HAVE COVERAGE.
A Great Tax Benefit!!!...…Start saving money in 2013 by enrolling in a healthcare or dependent care account.
A FSA is an IRS tax-favored program offered by employers that allow their employees to pay for eligible out-of-pocket healthcare and dependent care expenses with pre-tax dollars.
Shelby County offers a Healthcare spending account and a Dependent care spending account. CONEXIS is the FSA administrator for the County.
The Healthcare spending account can be used to pay for qualified medical expenses that are not covered by your County health insurance. Your entire elected annual contribution is available on the first day of the plan year, January 1. As of January 1, 2013, the IRS is mandating a $2,500 contribution limit on medical reimbursement accounts.
HERE IS HOW A FSA WORKS: Money is set aside from your paycheck before taxes are taken out. You can use your pre-tax FSA dollars to pay for eligible healthcare expenses throughout the plan year for you, your spouse, and your eligible dependents. You can save money on expenses you are already paying for like doctors’ office visits, prescription drugs, etc. Eligible expenses that can be reimbursed under FSA include plan deductibles, copays, and coinsurance for medical, dental, and vision care.
FSA healthcare participants will receive from CONEXIS a benefit debit card for purchase of eligible medical expenses.
The Dependent care FSA is used to pay for eligible dependent care expenses such as childcare for children under age 13 or children who are physically or mentally incapable of self-care and, in some cases, elder care so that you and your spouse can work, look for work, or attend school full-time. After you have incurred an eligible expense, you may be reimbursed up to your contribution balance at the time of the reimbursement request. The maximum election amount for the dependent care account is $5,000 per year for those filing married, single, or head of household and $2,500 for those married filing single.
To participate in FSA, you must complete an enrollment form. The minimum contribution for a Medical FSA is $25.00 per pay period, and Dependent Care FSA is $50.00 per pay period. Enrollment forms and Frequently Asked Questions are available on County’s websites. You can visit CONEXIS’ website at www.conexis.com/FSA or call customer service (1-866-279-8385).
Current FSA Participants – Remember, you have until March 31, 2013 to claim 2012 FSA expenses or you will forfeit any remaining balances that have not been spent. Please submit eligible expenses incurred in 2012 to CONEXIS. Please keep your debit card if you plan to enroll for 2013. CONEXIS will automatically reload the card with your new annual FSA contribution.