Benefits Corner

Feb 22, 2013 | Intercom

2012 FLEXIBLE SPENDING ACCOUNTS (FSA) AND 2012 HEALTH SAVINGS ACCOUNTS (HSA)

Since March is almost upon us, this is just a reminder on using last year’s flexible spending and health savings accounts if you have an FSA or HSA along with NMC’s medical plans.

2012 Unreimbursed Medical Flexible Spending Accounts

The period of time for using up your 2012 Unreimbursed Medical FSA is drawing to a close.  You may use these funds for services during the calendar year 2012, and if you did not use them up, you can use them for services during the 75 days following 12/31.  For your 2012 account, the final date for allowable services is March 15, 2013.

However, you may submit these expenses for 45 days following the end of the “Expense Period” by April 29, 2013, otherwise any remaining balance in the account will be forfeited.  If you need to submit expenses not billed through Priority, such as dental or vision, you can find the claim form at https://intranet.nmc.edu/forms/human-resources/benefits/PriorityHealthFlexibleSpendingAccount.pdf.

2012 Dependent Care Flexible Spending Accounts

You may use these funds only for services during the calendar year 2012, otherwise any remaining balance in the account will be forfeited.  If you submitted a receipt that was higher than the amount in your account at any time during the year, Priority will reimburse the remainder of the amount submitted when you have more money deducted.  You can find the Priority Health FSA form which must be used for all Dependent Care reimbursement requests at https://intranet.nmc.edu/forms/human-resources/benefits/PriorityHealthFlexibleSpendingAccount.pdf.

You may submit your Dependent Care claims up to 120 days following 12/31/12 for services during 2012, which is April 29, 2013.

2012 Health Savings Accounts

If you were enrolled in the High Deductible Health Plan for 2012, you manage your own expenses through your HSA.  As you are working on your taxes for last year, If you would like to check that you correctly used this account for IRS qualified expenses, following is a link to a page that Priority Health has on their website about HSA accounts.  This includes a list of qualified expenses and also has a link to the IRS document if you want to delve deeper.  http://www.priorityhealth.com/member/plans/group-plans/hsa-accounts

If you have any questions on these accounts or other benefits, feel free to contact Carol Kasper at 995-1362.