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The HTG medical, dental or vision plans. The only criteria are that these expenses cannot be covered (paid) under any other
health care plan. You will need to submit a claim form along with documentation to the flex plan administrator to support
these expenses. These documents are required by the IRS to verify that the expenses qualify for reimbursement from an FSA.
The Dependent Care Spending Account (DCSA) also provides you with the opportunity to set aside dollars on a pre-tax basis
to pay for dependent daycare expenses. You can contribute a maximum of $5,000 per plan year (4/1/2017 – 3/31/2018) in
pre-tax dollars to your HTG DCSA. The $5,000 maximum allowable contribution is per family for a married couple filing jointly
or for a single parent. The limit is $2,500 for a married person filing separately. This contribution to the plan reduces your
taxable income and may provide you with significant tax savings each year. Please be aware that you cannot participate
in this account and take a dependent daycare tax credit on your taxes at year-end (only one or the other is permitted).
Depending on your annual earnings, you may save more tax dollars by contributing to a Dependent Care Spending Account
vs. the year-end tax credit. Further questions on tax matters should be directed to a tax advisor.
Costs for your child’s day care center, costs for a caregiver, as defined by the IRS, and costs for day care provided inside or
outside of your home are a few examples of dependent care. These expenses must be for the care of a child under age 13
or for a dependent who is not capable of self-care. You will be reimbursed from your DCSA only up to the amount you have
contributed at any given time. If you submit a claim that is larger than your account balance at the time of submission, you
will be reimbursed your full account balance and then continue to be reimbursed from your account as new contributions
are made, up to the total amount of your claim.
“Use It or Lose It” Rule:
IRS regulations prohibit employers from returning to you any money deposited into Healthcare or Dependent Care Spending
Accounts that are not used at the end of the plan year. Unused dollars are considered to be forfeitures, per IRS rules, and are
typically used by employers to pay for plan administration expenses.
We are pleased to notify you that we implemented a “Grace Period” to the FSA Account. If you have not spent all of the
amounts in your Health Flexible Spending Account or Dependent Care Flexible Spending Account by the end of the Plan
Year, you may continue to incur claims for expenses during the “Grace Period.” The “Grace Period” extends 2 1/2 months
after the end of the Plan Year, during which time you can continue to incur claims and use up all amounts remaining in your
Health Flexible Spending Account or Dependent Care Flexible Spending Account.
Once you make your annual contribution election(s) to the FSA Medical Account and/or the Dependent Care Spending
Account,
you cannot change or cancel your contributions until the next plan year unless you have a qualifying change in
family status
. Therefore, it is important to carefully consider how much you will contribute to your account(s) in the coming
year as the IRS prohibits any changes in the middle of a plan year.
Please note: Healthcare and Dependent Care Spending Accounts are separate and you cannot transfer monies from one
account to the other per IRS rules.
Voluntary Benefits available through AFLAC
Voluntary benefits, through AFLAC, are available to you and have these important features:
• They complement your core benefits – provides immediate, additional income for your initial out-of-pocket expenses (i.e.
high deductibles and coinsurance)
• They are portable – if you terminate your employment, you may continue your coverage with no increase in premiums
• Benefits are paid directly to you, unless you specify otherwise
AFLAC policies help cover unexpected medical bills, co-payments, deductibles, out-of-pocket expenses and more. Below
are the AFLAC voluntary plan options:
Accident Insurance
– provides a lump sum benefit in the event of an unexpected injury; helps offset deductibles/coinsurance
and uncovered medical expenses
Hospital Protection
– provides cash benefits in the event of qualifying hospitalizations
Cancer Care
- provides cash benefits during covered cancer treatments