1. Flexible Spending Account
University of Dayton Open Enrollment

2. What is a Flexible Spending Account?
A Flexible Spending Account is an IRS regulated pre-tax benefit.
Also known as a
Section 125 Plan
Cafeteria Plan
FSA

3. 3 Reasons why you Should Participate…
Money, money, money!
Pay less in taxes
Increase your spendable income
Save 25-40%
So where does the tax savings come from?
Federal and State Income Taxes

4. Paycheck Illustration

5. University of Dayton Plan Year: January 1 – December 31 Details:
Grace Period for Medical (No OTC after 12/31/2010)
Run-Out Period: 32 days after Grace
Direct Deposit Available
FSA Benefit Limitations:
Medical: $5,000/year
Limited Medical: $5,000/year
Dependent Care: $5,000/year (If single or married filing jointly) or $2,500/year (If filing separately)

6. Planning Your Participation
Your Election
Election – No Changes Unless
Change of status
Don’t lose anything… plan ahead!
Use Worksheets
Plan Conservatively
24-hour Account Access
Reminder Letters

7. What are eligible expenses?
Eligible expenses include…
Co-pays and prescriptions
Eye exams, contacts, contact lens solution, prescription sunglasses, laser eye surgery …and MUCH more!
STILL WORTH NOTING!
As of January 1, 2011, if you have an FSA, HRA or HSA, you are no longer permitted to use your account funds to purchase OTC drugs and medicines (e.g. Advil, ibuprofen, cough syrup) unless you have a Note of Medical Necessity (NMN) or a prescription from your doctor.

8. The Reimbursement Process
Submit Eligible Claims Through:
Online
Fax
Regular mail
Include Documentation
Per IRS regulations, all documentation must include:
Signed and Dated Claim Form
Patient and Provider Names
Date, Cost and Description of Service

10. Employee Account Homepage

11. Online Claim Entry

12. Online Claim Entry

13. Claim Detail

14. How do I sign up? Complete Your Enrollment Form
Submit Your Form to HR Staff
Look Forward to a Great Benefit

15. BusinessPlans, Inc. - myCafeteriaPlan
Thank You!
BusinessPlans, Inc. - myCafeteriaPlan
432 East Pearl Street
Miamisburg, OH
Phone: (937)
Toll-Free: (800)