Upload
fergal
View
41
Download
0
Embed Size (px)
DESCRIPTION
Flexible Spending Accounts (FSAs). Flexible Spending Accounts. 3 Types of Accounts Dependent Care Medical Limited Medical. Flexible Spending Accounts. Common features: All accounts administered by Aetna Minimum/maximum annual contributions: $60 minimum $5,000 maximum. - PowerPoint PPT Presentation
Citation preview
Flexible Spending Accounts
(FSAs)
Flexible Spending Accounts
3 Types of Accounts•Dependent Care•Medical•Limited Medical
Flexible Spending Accounts
Common features:All accounts administered by AetnaMinimum/maximum annual
contributions:$60 minimum $5,000 maximum
Flexible Spending Accounts
Before-tax deductionsMust comply with IRS regulationsEach account separate electionNo transfers between accountsChanges during year limited to
qualifiying eventsUse it or lose itAnnual enrollment required
FSA-Dependent Care
Care for:• children under 13• disabled child of any age• disabled spouse
While you and spouse work/attend school
Not occasional babysitter
FSA-Dependent Care
Care provided in• Your home• Caregiver’s home• Care center
FSA – Dependent Care
How do you get paid?
Must submit claim for each period of care claiming
$96.15/weekCan only be reimbursed what have contributed
Maximum claim amount:
• $416.66/month
FSA–Medical
IRS eligible expenses:• Medical• Dental• Vision
For:• You• Your spouse• Your eligible dependent children• Do not have to be enrolled in NKU plans
FSA–MedicalHow do you get paid? Can be paid for more than contributedUp to annual enrolled amountDebit Card• Swipe for copayments under NKU plans if
enrolled• No additional documentation needed
File claims• All other types of expenses (deductibles,
coinsurance, etc.) must file claim• Provide Explanation of Benefits from insurance
FSA–MedicalHow do you get paid? • Direct deposit
Reduces time to receive payment Sign up at www.Aetna.com
• Streamline dental claims Eliminates FSA claim filing for dental Reduces time to receive payment Sign up at www.Aenta.com
FSA–Limited Health
If enrolled in HDHP IRS eligible expenses only for:• Dental• VisionFor:• You• Your spouse• Your eligible dependent children• Do not have to be enrolled in NKU plans
FSA–Limited Health
How do you get paid? Can be paid for more than
contributedUp to annual enrolled amountNo Debit CardMust file claims• Provide Explanation of Benefits from
insurance
FSA–Limited Health
How do you get paid? • Direct deposit
Reduces time to receive payment Sign up at www.Aetna.com
• Streamline dental claims Eliminates FSA claim filing for dental Reduces time to receive payment Sign up at www.Aenta.com
FSAs-Aetnawww.Aetna.comSign up for My NavigatorFax claimReceive email notification of
claim receiptReceive email notification when
claim paidCan opt out of paper Explanation
of Benefits
FSAs-Aetna
FSAs-Aetna
FSAs-Aetna
FSAs-Aetna
FSAs-Aetna
FSAs-Aetna