1. WELCOME (insert group name)
Flexible Spending Account (FSA) Basics

2. FSA: THE BASICS

3. What’s a Flexible Spending Account (FSA)?
An FSA is an IRS regulated benefit that allows employees to save money on a pre-tax basis for eligible health care and dependent care expenses for yourself and your dependents.
Employee Contribution
Employee’s FSA
Qualified Expense

4. Why enroll in the FSA?
Pay for medical expenses for you and your dependents tax-free:
No state, federal, or FICA taxes
Tax savings of 25% to 30%!
Funds available upfront (on the plan start date)
Pay for any qualified expenses during the plan year
Medical
Dental Rx
Vision
See IRS Publication 502 for complete list

5. How it works Make election (amount) during open enrollment
Can elect up to the plan maximum
In 2013 your FSA contribution will be capped at $2500 due to health care reform law
Claim the full election amount upfront using a claim form or submit claims online
Use funds during the plan year
Unused funds don’t roll over and are subject to the “Use it or lose it” rule
Save receipts!
Must be provided for reimbursements

6. Who’s eligible?
Any employee whose employer offers an FSA and meets the employer's eligibility requirements

7. Types of FSAs?
Health care FSA—used for qualified medical, Rx, dental, and vision expenses
Dependent care FSA—used for child, elder, and other dependent care
Limited purpose FSA (LPFSA)—used for dental and vision expenses only
Available only to those with an health savings account (HSA)

8. Using Your FSA
During open enrollment, elect how much you want to contribute for the year—up to the plan’s maximum
Employer sets aside the amount you choose to put in the FSA— usually an equal portion from each paycheck
When you have a qualified expense, use your FSA debit card {omit if not offered} or pay out of pocket and submit for reimbursement later
Save all receipts, you’ll need them for reimbursement and possibly to prove to your employer or FSA administrator that expenses were qualified
Expenses are reimbursable only if they occur during the plan year or grace period

9. MEMBER EXPERIENCE

10. HealthEquity Services
HealthEquity delivers FSA administration through a best-in-class member portal
Live Member Services specialists available 24/7/365
You can:
View and manage account online
Reimburse yourself for claims
Submit claims online
Fax or mail claim form with copy of explanation of benefits
Get reimbursements by direct deposit or check

11. Member Experience 11 11 11 60–90 days prior 40 days prior
Open Enrollment Meetings and Communications
Account Screening and Setup
Ongoing Interactions
60–90 days prior
40 days prior
20 days prior
17 Days prior
15 days prior
Plan Yr. Begins
Ongoing
Enrollment
HealthEquity Receives Enrollment
Welcome Kit and Debit Card (omit if n/a)
First Log In to Web Portal 11 11 11

12. HealthEquity Member Services is open all day, every day, 24/7/365
Understand and manage the financial side of health care
Save and spend health care dollars more wisely
Build equity in your health plan

13. Any Questions?
YOUR QUESTIONS?
Thank You

14. Any Questions?
Optional Slide

15. Dependent Care FSA
You may contribute up to $5,000 pre-tax annually to pay for dependent care
Expenses must be related to dependent care that allows an individual or married couple to remain gainfully employed or look for work. If married the spouse must work or be a full- time student.
You can use your dependent care FSA to reimburse yourself for expenses for children up to age 12.