While usually considered a low cost benefit, not every employer should implement a Flex Plan. Design considerations must be given to the potential costs and possible benefits. Meanwhile employers save on the match for FICA, Medicare and on FUTA taxes (saving between 1.45% to 8%). The Unreimbursed Healthcare account can be used to supplement group health coverage and can be used as a less costly alternative for dental and vision care.

The Flex Plan includes three optional pre-tax accounts which can be used for Healthcare Premiums, Unreimbursed Healthcare, and Child/Dependent Care. This is an ERISA plan which means the employer cannot discriminate and must have a written plan document. See similar questions...

Flexible spending accounts (FSA's) are a way to pay dependent day care expenses and out-of-pocket medical expenses on a before-tax basis. Enrollment is during the regular open enrollment period for health insurance, typically the month of May, with an effective date of July 1. All employees may enroll if they are eligible for the State of Idaho medical plans and have completed 10 months of continuous state service as of the plan anniversary (July 1). See similar questions...

A benefit provided by your employer which allows you to set aside a certain amount of your income into an account before paying taxes. You may then, during the plan year, be directly reimbursed from your flexible spending account (FSA) for qualified health care and dependent care expenses. Premium Only Plan (POP) - allows for any employee paid portion of a group insurance premium to be paid pre-tax. There usually is no claim submission because it is handled through payroll. See similar questions...

An employee benefit program that allows you to set aside money, on a pre-tax basis, to pay for certain out-of-pocket health care and dependent care expenses. Because the money goes into your account(s) before federal income or Social Security taxes are withheld, you pay less in taxes, and have more disposable income. Your money is also exempt from state income taxes in most states. See similar questions...

Flexible Spending Accounts allow employees to pay for certain child care or out-of-pocket medical expenses with pre-tax rather than after-tax dollars. Employees determine the amount they want to contribute pre-tax on an annual basis - up to the $5000 per calendar year cap set by the IRS. Employees who want to participate in this program must reenroll every calendar year during Open Enrollment. New employees cannot open an FSA for medical expenses during their first year of employment. See similar questions...

of January 1, 2007, employers can transfer funds from FSAs or HRAs to an HSA for employees switching to coverage under an HSA-compatible plan. The amounts rolled over to HSAs from FSAs or HRAs are over and above the amounts allowed as annual contributions. The maximum contribution is the balance in the FSA or HRA as of September 21, 2006, or – if less – the balances as of the date of the transfer. See similar questions...

You can save on Federal Income and State taxes (in most states), and Social Security taxes. Federal taxes generally are 15% to 28%, with Social Security taxes of 7.65%. Adding these amounts to your state tax will generally bring the savings to at least 30%, and more in some cases. See similar questions...

Claim forms may be submitted via fax or mail to AON Consulting. Claims submitted by Thursday of one week will be direct deposited to the same account as your ECU paycheck on Friday of the following week. You may decline the option for direct deposit, and in such a case the check will be mailed directly to your home address. The appropriate address and/or fax number to which to submit the claim are located on the claim forms. See similar questions...

No. If the amount deposited in the FSA exceeds actual covered expenses, the unused money is forfeited by the employee. See similar questions...

FSA is a benefit provided by your employer that lets you set aside a certain amount of your paycheck into an account before paying income taxes. Then, during the year you can use funds in the account to pay for qualified expenses with tax-free dollars. FSA components include: Health Care Account, Dependent Care Account, Commuter Benefits, and Adoption Assistance. Check with your employer for more details. See similar questions...

Absolutely. Please check with your plan's administrator to verify the required paperwork needed for submission. See similar questions...

You can reduce your taxes and increase your spendable income by setting aside pre-tax dollars in a Dependent Care Spending Account and/or Health Care Spending Account. Through these accounts you can pay for qualifying dependent care expenses up to $5,000 annually and/or qualifying health care expenses up to $3,000 annually. Enterprise pays all administrative costs for this benefit. See similar questions...

A healthcare flexible spending account (FSA) allows you to pay for qualified out-of-pocket medical expenses on a pre-tax basis. See similar questions...

We do not offer a flexible medical spending account at the present time. However, we do offer a dependent care spending account (available through Colonial Life) for setting aside up to $5,000, pretax, for dependent care expenses. See similar questions...

In most cases, yes! Check with your employer or plan provider to verify the details of your plan, but this is a great way to pay for LASIK using you pre-tax income. See similar questions...

Yes, just ask the front desk to print up a receipt for the payments you have made over the course of the year (or print up your own over the Internet), and submit it to your Flex Spending so you may be reimbursed with the money you have available in your account. See similar questions...