Effective: 1st of the month after commencement of employment
There are several components to this “cafeteria plan.” Participation in this plan allows the College to provide a non-taxable benefit through salary reduction within the meaning of Section 125 of the Internal Revenue Code for employee group health insurance premiums and other health related insurance premiums.
Employees enrolling in the Base Plan can elect to enroll in a flexible spending account for eligible medical expenses up to $2,650 for 2018. Employees enrolling in the HSA Plan can have contributions up to $3,450 deposited to a health savings account and can elect to enroll in a Limited Flexible Spending Account (LFSA) for dental and vision expenses.
There is also an option for a dependent care reimbursement account up to the limits defined by the IRS.
FSA and LFSA Information:
You must keep all detailed receipts for eligible expenses in order to provide documentation to Meritain for reimbursement, as well as the IRS in the event of an income tax audit.
- FSA Guide
- Use of the Benny prepaid debit card is optional, and it cannot be used to pay for dependent care expenses. If using the card, you will still be responsible for sending the required documentation to Meritain Health.
- Benny Card FAQ
- Limited Flexible Spending Account Information
- Requests for reimbursement of all eligible expenses up to your annual maximum can be made by mailing the Reimbursement Form along with copies of your detailed receipts to Meritain Health. You can also fax them to Meritain at 1.888.837.3725 or email them to email@example.com.
- Claims can be submitted at any time, and are processed weekly on Thursdays.
- Healthcare FSA and LFSA: You may incur expenses toward your healthcare FSA or Limited FSA after the plan year has ended. The deadline to incur these expenses is 3/15/19 for 2018.
- Dependent care FSA: You may incur dependent care claims up until the end of the plan year (12/31/18 for 2018).
- Healthcare, Limited, and Dependent care FSA claims can be submitted up until 3/31/19 for 2018.
See the links below for further information, or contact the Human Resources Office.
Meritain.com (under “View My Account Information” click on “Flexible Spending Account”)
Flex Plan participants can only make changes to their coverage at the beginning of the plan year or if there is a qualifying event.