Phoebe Ministries offers employees a comprehensive cafeteria plan including pre-tax contributions for employee medical and dental insurance premiums, and, a health care reimbursement account form unreimbursed health care expenses of the employee and their dependents.
Flexible Spending Account Benefits:
- Each year during the open enrollment period, you decide how much, if any, you want to contribute to the health and dependent care spending accounts. Refer to the FSA Election Form for the maximum amount you may want to contribute.
- Each pay period, the money that is deducted before taxes is withheld in equal increments from your pay and contributed to your healthcare account.
- When you have an eligible expense, submit a claim form to L.R. Webber Associates for reimbursement with a detailed receipt for healthcare expenses not covered by your medical or dental plan(s).
- You will then be reimbursed for your eligible expenses up to the full amount you contributed to the health care spending account for the plan year. You will only be reimbursed up to your account balance for the dependent care account.
- You have 90 days from the end of the plan year to submit claims incurred in the previous year and/or grace period.
- Claims can be mailed, faxed, or e-mailed to L.R. Webber Associates, but please do not submit the same claim more than once.
Types of Flexible Spending Accounts: This plan is a great way for you and your family to save money by reducing your taxable income. By enrolling in one or both of these accounts, you can pay for eligible, uninsured health and dependent care expenses with pre-tax dollars. The following is a brief description of the accounts available through your employer:
- Healthcare Spending Account: This account will reimburse you with pre-tax dollars for health care expenses not reimbursed under your family’s health care plan(s). Refer to the Election Form for the maximum amount you may contribute to this account for the plan year.
- Dependent Care Spending Account: This account will reimburse you with your pre-tax dollars for day-care expenses for your child(ren) and other qualifying dependents. You can contribute up to $5,000 a year or $2,500 if you are married and file separate tax returns.
Phoebe Ministries offers employees a comprehensive cafeteria plan including a Dependent Care Reimbursement Account for expenses related to the care of dependents of their employees.
Your Dependent Care Reimbursement Benefits:
Children 12 years and under who reside in your household
Adults/children mentally or physically incapable of self-care who spend at least 8 hours a day in your household
|Eligible Expenses||Ineligible Expenses|
|Day care facility fees for qualified dependents||Child support payments or child care if you are a non-custodial parent|
|Payments for dependent care services provided by your dependent, your spouse’s dependent, or your child who is under age 19|
|Local day camp fees for qualified dependents||Healthcare costs or educational tuition|
|Overnight care for your dependents (unless it allows you and your spouse to work during that time)|
|Baby-sitting fees for at-home care of qualified dependent(s) while you and your spouse are working (care cannot be provided by you, your spouse, or other dependent)||Nursing home fees|
|Diaper service, books and supplies, activity fees, kindergarten expenses|
First, estimate how much money you will be spending during the plan year for qualifying child care expenses.
Once you have enrolled in a DCA account, each pay period the elected amount you have chosen will be withheld and taken out of your pay before taxes are calculated. The money that you set aside will be deposited into your DCA account.
To receive a reimbursement from your DCA account, you simply submit a Claim Form along with supporting documentation (within the current plan year, and after your effective date)
You will only be reimbursed for eligible claims based on the amount, which has been deposited into your DCA Account. Any claim amount in excess of your current balance will go into a pending status until another payroll deduction amount is deposited into your account.
A new election must be made every plan year.
Tax ID Number/SSN of person that is providing the service
Dates of Daycare service provided
Amount that was paid
Enroll during the Open Enrollment Period
Enroll when you are first eligible to participant in the plan
Enroll when you have a qualifying change in status (example: birth of child, marriage, divorce)