Flexible Spending Accounts
***All enrollment forms must be received by the 3rd of the month to be effective on the next paycheck***
***All employees must complete a Health Care/Dependent Care Reimbursement Enrollment Form every year during Open Enrollment regardless of their participation the previous year**
Health Care Reimbursement Account (HCRA)
The Health Care Reimbursement Account (HCRA) allows employees to pay for out of pocket health and dental expenses not covered by their insurance with pre-tax dollars for themselves and their dependents.
All employees are eligible to participate. There is a 60-day window for new employees - if this period is missed, the employee must enroll during the annual Open Enrollment. Participants must re-enroll each year during Open Enrollment for the following calendar year.
You can contribute a minimum of $20 per month to a maximum of $212.50 per month to your account. Contributions must be made by payroll deduction. The annual maximum for the HCRA Plan is $2,550.
Dependent Care Reimbursement Account (DCRA)
All employees are eligible to participate. There is a 60-day enrollment window for new employees; if this is missed, the employee must enroll during Open Enrollment. Participants must re-enroll each year during the annual Open Enrollment period for the following calendar year.
You can contribute a minimum of $20 per month to a maximum of $416.66 per month, for a total of $5,000 per calendar year. A claim form must be submitted, with supporting documentation, to ASI, the third party administrator, for reimbursement. Deduction calculations must be done carefully, as money which is not spent by the end of the calendar year is not rolled into the next year. There is also a $1.00 monthly after-tax administrative fee charged for each account.
Additional Information
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