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The components of this Plan allow you to pay for certain eligible expenses on a pre-tax basis, which will reduce your federal income taxes.

How To...

Pre-Tax Premiums

This option allows you to pay any PISD medical, dental, and vision premiums on a pre-tax basis. Using this option, premiums are deducted from your paycheck before taxes. Since you are paying these premiums anyway, you can save tax money as well. Life and disability insurance premiums cannot be deducted pre-tax.

Medical Reimbursement Flexible Spending Account

General Purpose

Please Note: If you also contribute to a Health Savings Account through a bank or another financial institution, you may not select the General Purpose medical reimbursement account. You should select the Limited Purpose medical reimbursement account.

This account allows you to set aside some of your pre-tax salary to pay for eligible medical, dental, and vision care expenses that are not reimbursed by your insurance plans. The expenses may be for you, your spouse, or dependent children.  Review the flyer below for examples of eligible items.

2016-2017 Informational Flyer PDF file

The minimum you may select for this account is $25 per month, and the maximum is $208 per month. Any funds remaining in your account at the end of the plan year (August 31) and not claimed for eligible expenses will be forfeited and cannot be returned to you. This account does not automatically continue from year to year. You must re-enroll during each annual enrollment period. You are encouraged to seek professional tax or financial advice regarding this account and your personal tax situation.

If you enroll in one or more flex account, an administration fee of $3.70 per month will also be payroll-deducted and tax-sheltered.

Limited Purpose

Please Note: If you also contribute to a Health Savings Account through a bank or another financial institution, you may not select the General Purpose medical reimbursement account. You should select the Limited Purpose medical reimbursement account.

This account allows you to set aside some of your pre-tax salary to pay for a limited set of expenses, typically only for dental and vision, that are not reimbursed by your insurance plans. The expenses may be for you, your spouse, or dependent children.  The Limited Purpose account will not reimburse charges that are applied to your medical plan deductible, as those are eligible under a Health Savings Account.

2016-2017 Informational Flyer PDF file

The minimum you may select for this account is $25 per month, and the maximum is $208 per month. Any funds remaining in your account at the end of the plan year (August 31) and not claimed for eligible expenses will be forfeited and cannot be returned to you. This account does not automatically continue from year to year. You must re-enroll during each annual enrollment period. You are encouraged to seek professional tax or financial advice regarding this account and your personal tax situation.

If you enroll in one or more flex account, an administration fee of $3.70 per month will also be payroll-deducted and tax-sheltered.

Dependent Care Flexible Spending Account

This account allows you to set aside some of your pre-tax salary to pay for eligible "dependent care" expenses, such as day care for children or a disabled spouse.

2016-2017 Informational Flyer PDF file

The minimum you may select for this account is $25 per month. The maximum is $412 per month (or $204 per month, if you are married and filing separate tax returns). Any funds remaining in your account at the end of the plan year (August 31) and not claimed for eligible expenses will be forfeited and cannot be returned to you. This account does not automatically continue from year to year. You must re-enroll during each annual enrollment period. You are encouraged to seek professional tax or financial advice regarding this account and your personal tax situation. By electing this account, you may not be eligible for the Federal Income Tax Credit.

Cautions

  • The types of eligible expenses that can be claimed for reimbursement under the flexible spending accounts are determined by IRS regulations. To find out if a particular expense qualifies, you should contact the account administrator, a tax advisor, or the IRS.
  • Since you may suffer tax consequences resulting from your elections, you are encouraged to consult a tax or financial advisor regarding your personal tax situation.
  • By electing the dependent care account, you may not be eligible for the Federal Income Tax Credit.
  • You will not be refunded any money left in your account that is not used - "Use It or Lose It."  When pre-tax money is put in a flex account, it must be used for that benefit during the plan year, no later than August 31.  There is no extension.  You will forfeit any unused funds. However, you can minimize your risk by setting aside only enough money for costs that you realistically expect to have.
  • The flexible spending accounts can only reimburse expenses that are incurred after your account begins and before the end of the plan year.
  • Reimbursement is based on when the service was rendered, not when you pay the bill.  For example, if you see the doctor in August 2016, but you actually pay the doctor's bill in September 2016, the expense is not eligible under your 2016-2017 flexible spending account.
  • Elections are irrevocable, except when a qualifying change in status occurs and you request the corresponding change within 31 days. Only certain changes are allowed mid-year.

Flex Card

How to Use Your Flex Card PDF file

The flex card can provide added convenience for the General Purpose Health FSA. Paper claims are most commonly used for reimbursement after the fact, but the flex card allows immediate access to the funds in your account at the time you need them. For example, most prescription co-pays can be reimbursed through the General Purpose Health FSA. So you can swipe the flex card at the pharmacy, and the claim will be paid directly from your flex account.

There are limitations to the card. It is designed to work only at specific merchants (e.g., doctor's offices, pharmacies, hospitals). However, the card transaction machine at an eligible merchant may not always work, depending on how their bank has set it up.

Use of the flex card does not remove your responsibility to keep all receipts and documentation to prove the eligibility of an expense. The IRS requires the administrator to audit every transaction. Therefore, they may request copies of your documentation to validate any transaction. If you do not provide documentation, the transaction will be voided, you must repay the account, and your card will be deactivated.

The Flexible Benefit Plan document contains complete details regarding use of the flex card, how the card works, how to use it properly, your obligations when using the card, the Plan's rights to deny access to your card and recover ineligible expenses, and more.