Flexible Spending Accounts
Flexible Spending Accounts provide the opportunity to set aside pre-tax dollars from each paycheck for reimbursement of qualified medical and/or dependent care expenses. You must re-enroll in medical and dependent care FSAs each year if you wish to continue to participate. If you continue participation in the medical FSA, do not discard the debit card from Key Benefit Administrators. New cards are not automatically issued each year.
In 2010, the administrative fee will be $2.63 per pay period, up from $2.59 in 2009. As a reminder the FSA has a use-it-or-lose-it rule. Money left at the end of the plan year is not rolled over or reimbursed.
IMPORTANT: Certain limitations apply to medical FSAs if you elect to enroll in one of the CDHPs in conjunction with an HSA. If you are enrolled in an HSA, your FSA will automatically become a Limited Purpose FSA. You should carefully review your expenses when electing both an HSA and a medical FSA.
Important Limited Scope Reimbursement changes (effective April 2010)
2010 FSA documents
Employee Enrollment Information Packets
Dependent Care Flexible Spending Account (2010)
Medical Care Flexible Spending Account (2010)
Limited Purpose Flexible Spending Account (2010)
Forms
Flexible Benefit Plan Claim Form
Direct Deposit Authorization Form
