Versions Compared

Key

  • This line was added.
  • This line was removed.
  • Formatting was changed.

...

The IRS requires an annual enrollment for all Healthcare FSA accounts. On line Online enrollment must completed by December 10, 2014be completed by each year. To participate, eligible faculty and staff must determine how much to elect to put in their account for the calendar year. The minimum election is $100 and the maximum is $2,550 600 (effective 1/1/1417). This total will be deducted in equal amounts twenty-four times each calendar year on a pre-tax basis. 

...

When participants have a qualifying expense during the calendar year, they may use the PayFlex HealthHub Flex HealthEquity Card at the point of service or submit a claim form with a receipt reflecting the medical expense directly to PayFlex HealthEquity for reimbursement. Claims may be filed as often as the participant wishes and will be reimbursed by PayFlexHealthEquity. Claim forms are available in the PayFlex HealtHub website online Document Library  at HealthEquity - see https://wwwhr.payflexwilliams.com/. See also Benefits Claims Procedures.edu/benefits/flexible-spending/ for instructional guides and videos.

In order for an expense to qualify for reimbursement from a given calendar year's contribution, it must be incurred during the same plan year. All claims for reimbursement must be submitted by March 31 of the year after the plan year ends.  Receipts for a claims for claims should be kept in case PayFlex HealthEquity requires them or the IRS.

...