FlexSelect Health Care Reimbursement Account
The Health Care Reimbursement Account allows you to pay for health care services not covered by the Medical, Dental, and Vision plans on a pre-tax basis. You fund your reimbursement account each pay period. The account will reimburse you for eligible health care expenses in a calendar year. Participation in the Health Care Reimbursement Account is completely optional. You may contribute any amount from $120 to $5000 per year. IRS regulations require that any balance left in your account three (3) months after year-end, that amount must be forfeited. You also cannot change your contribution amount during the plan year.
FlexSelect Day Care Reimbursement Account
If you are paying for childcare or other dependent care services so that you or your spouse can work, you can use the Day Care Reimbursement Account to pay for day care costs in a tax effective manner. You save money on taxes by setting this amount aside, on a pre-tax basis. You fund your retirement account each pay period. The account will then reimburse you for eligible day care expenses incurred in a calendar year. Participation in the Day Care Reimbursement Account is completely optional. You may contribute any amount from $120 to $5000 per year. In general, your Day Care Reimbursement Account stays fixed for the entire plan year. However, if your family circumstances change significantly, you may be able to change your election before the next annual enrollment. Please contact the Human Resources Department for more information. If there is a balance in your account three (3) months after year-end, federal law requires that it must be forfeited.
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