Flexible Spending Accounts – With a Dependent Care Reimbursement Account (DCRA) and/or Health Care Reimbursement Account (HCRA) you set aside a portion of your pay on a pre-tax basis to reimburse yourself for eligible expenses.
Employees are required to enroll/re-enroll annually during the open enrollment period. Please use the form found at DCRA/HCRA Enrollment Form 2016 Plan Year for 2016 enrollment.
For Calendar Year 2016, the maximum annual contribution for HCRA is $2,550 and remains at $5,000 for DCRA. Employees can adjust their annual election to include the Debit Card fee as long as they do not exceed the monthly maximum election amount of $212.50.
· Flexible Spending Account Debit Card for HCRA Enrollees - The optional "FSA Benny Card" issued by ASIFlex, allows enrollees to pay for out-of-pocket medical expenses (i.e., health, dental, vision, etc.) as payment at Health Care Providers and at certain retail locations. The $1.00 per month Debit Card administrative fee will be deducted from the participant's first HCRA contribution as a lump sum ($12.00 or a proration for enrollments after January 2014).