FSAs are IRS-approved, tax-exempt accounts that saves you valuable tax dollars on eligible medical expenses. Each pay period, an amount of money that you have specified is deducted from your gross pay before federal income, Social Security, and Medicare taxes are calculated.
Flex-Plan Services, Inc. is the FSA administrator for Public Employees’ Benefits Board (PEBB) members.
When you enroll, you estimate your family's annual health expenses and choose the amount of money you want to set aside pre-tax for the plan year. For 2014, this amount must be between $240 and $2,500. The amount you choose is deducted evenly from your paychecks throughout the year based on your length of appointment (e.g. 9, 10, 11 or 12 months).
Note: The PEBB FSA limit remains at $2,500 for 2015. The Internal Revenue Service (IRS) sets Flexible Spending Account limits each year, and raised the maximum allowable deduction to $2,550 in 2015. However the announcement came too late for the PEBB to implement the change, so the maximum deduction for the PEBB FSA plan remains $2,500 for 2015.
As you incur eligible medical expenses, you may request withdrawals from your account to reimburse yourself for out-of-pocket expenses incurred by submitting a claim form with your bills to Flex-Plan Services. Reimbursement will be issued in the form of a check or direct deposit reimbursement, whichever you elect.
FSA funds not used during the plan year will be forfeited.
If you are eligible for PEBB-sponsored benefits, you can enroll in a the FSA as long as you are not already enrolled in a Health Savings Account (HSA) through a Consumer-Directed Health Plan (CDHP). Eligible FSA expenses will be reimbursed to you, and can include charges to:
These individuals do not need to be covered under your PEBB medical plan for their expenses to be reimbursed from your FSA.
Current plan participants must re-enroll in the plan each year in order to continue their participation. Open Enrollment is held during the month of November each year, with the FSA going into effect January 1 of the following year.
New hires who wish to enroll in an FSA must do so within 31 days from date of hire. Participation becomes effective the first day of the month following receipt of the properly completed enrollment form. Funds are available for those claims incurred after the account is set up.
Current University employees experiencing a qualifying life event may enroll in an FSA within 60 days from date of the qualifying event. Participation becomes effective the first day of the month following receipt of the properly completed enrollment form. Funds are available for those claims incurred after the account is set up. See qualifying life events.
Before enrolling in an FSA, consider the following:
New hires or current employees who experienced a recent qualifying life event may enroll in a FSA account for the current plan year provided eligibility and enrollment requirements are met, otherwise any eligible employee may enroll in the upcoming year during the annual open enrollment period, November 1-30.
After enrolling in the FSA, you don't have to wait for cash to accumulate to use your account. The maximum annual amount you plan to contribute is available throughout your period of coverage. Funds are available for those claims incurred after your account is set up.
Here are the ways you can access your FSA:
It is important to send the proper documentation that substantiates the claim, the IRS requires that the documentation have:
Bills from providers and Explanation of Benefits (EOB’s) from insurance carriers are good forms of documentation. You do not need to show proof of payment unless you are submitting an orthodontia claim. Do not submit copies of cancelled checks, credit or debit card receipts. DO NOT send the claim form to the UW Benefits Office.
You have the option to have your FSA reimbursement checks deposited directly into your checking or savings account. Depending on whether you opt for email or written confirmations, you will either receive an email or letter that the claim has been processed. To apply, complete the Direct Deposit form or contact Flex-Plan customer service at 1-800-669-3539.
Upon leave of absence, lay-off, or termination of employment, you may be eligible to continue your FSA through the end of the leave or calendar year by special arrangement with Flex-Plan Services. For more information, call Flex-Plan customer service at 1-800-669-3539.
Note: The Dependent Care Assistance Program (DCAP) may not be continued after layoff or termination of employment.
|US Mail Address||
UPS or FedEx Address Only
|Flex-Plan Services, Inc.
PO Box 53250
Bellevue, WA 98015-3250
|Flex-Plan Services, Inc.
11400 SE 6th St., Suite 125
Bellevue, WA 98004