2007 flex flexible spending plan
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2007 flex flexible spending plan l.jpg

  • To insert your company logo on this slide

  • From the Insert Menu

  • Select “Picture”

  • Locate your logo file

  • Click OK

  • To resize the logo

  • Click anywhere inside the logo. The boxes that appear outside the logo are known as “resize handles.”

  • Use these to resize the object. If you hold down the shift key before using the resize handles, you will maintain the proportions of the object you wish to resize.

2007 FLEX$Flexible Spending Plan

Administered by


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Put $$ Back In Your Pocket!

  • Pay for certain expenses with pre-taxed dollars

    • Insurance copays

    • Qualified medical expenses not covered by insurance

      • OTC drugs

      • Hearing Aids

    • Dependent Day Care


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Eligibility

  • Employee

  • Spouse

  • Qualified Dependent

    • Less than 19 years old,OR…

    • Student, less than 24 years old

      AND…

    • Lives at home for at least half the year

    • Receives more than half of their financial support from parent


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Eligible Expenses

  • Medical copays

  • Dental copays

  • Lasik Eye Surgery

  • Prescription Drug Copays

  • Orthodontics

  • Much, Much More!!!

    • List of eligible expenses available on www.fsafeds.com


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Acupuncture

Allergy Injections

Alcohol and Drug Treatment Programs

Artificial Eyes and Limbs

Back Supports

Birth Control Supplies

Chiropractic Care

Diabetic Supplies

Depression Medication*

Hearing Aids and Batteries

Insulin Treatments

Infertility Treatments

Nursing

Organ Transplants

Physical, Speech and Occupational Therapy

Psychotherapy

Radium Therapy

Routine Physical Exams

Sterilization Equipment and Supplies

Arches

Arthritis Treatment*

Exercise Programs*

Braces and Splints

Crutches

First Aid Kits

Instruction, Training, and Equipment for the Deaf

Orthopedic Shoes*

Orthotics

Oxygen and Equipment

Support Hosiery

Wheelchairs

Covered Medical Expenses

* Must be prescribed by a Medical Doctor, Doctor of Optometry, Doctor of Podiatry, or Osteopathic physician for specific medical condition. A copy of the prescription is needed.


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Covered Dental Expenses

  • Bridges

  • Teeth Cleanings

  • Crowns

  • Dental X-Rays

  • Dentures

  • Teeth Extracting

  • Fillings

  • Fluoride Treatments

  • Gum Treatments

  • Oral Surgery

  • Orthodontics

  • TMJ


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Covered Vision Expenses

  • Eye Exams

  • Eyeglasses

  • Reading Glasses

  • Contact Lenses

  • Lens Care Supplies


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Over The Counter Medications

Cold, cough, and flu remedies

Sunscreen*

Fiber supplements

Antacids

Band-Aids

Wheelchairs

Crutches

Hypnosis

Transportation

Insurance premiums

Cosmetic procedures

Diapers*

Toothpaste

Lotion

Vitamins*

Imported prescription drugs

Marriage counseling

Teeth whitening

Massage Therapy*

Other Expenses

Eligible

Excluded


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Dependent Day Care

  • $5,000 yearly maximum

  • Day care must be necessary so that the parent(s) can work to qualify

  • Care is provided by a center, nursery, babysitter, or nanny

  • Relatives qualify only if you cannot claim them on your tax return

  • Care for an elderly parent or disabled dependent is eligible if it is necessary in order for the employee to work


Example l.jpg
Example

Day care – $200 X 12 = $2,400

Orthodontics – $125 X 12 = $1,500

Prescription - $64.00 Rx at 25% = $16.00

$16 X 12 = $192

Insurance – $20 X 8 = $160

Eye Exams – $20 X 4 = $80



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Flex$ Advantages

  • 20-30% Savings on expected expenses

  • Money is available when you need it

  • You could be in a lower tax bracket


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Flex$ Warnings

  • Use it or lose it

  • Expenses must be incurred between January 1 and March 15 of the following year to qualify for reimbursement

  • All claims must be submitted by March 31

  • Designated amount cannot be changed after enrollment form is submitted, unless…


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Qualified Life Events

  • Marriage

  • Divorce

  • Employment

    • Spouse

    • Hours

  • Termination/Rehire

    • At least 30 days unemployed

  • Court orders

  • Birth

  • Death


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Dependent Day Care

  • Annual election amount is $2,400.00

  • $92.31 is deducted from your paycheck starting in January

  • At the end of March, you file a claim for $600.00 in day care expenses

  • You will only be reimbursed $553.86 because there have only been 6 pay periods


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Medical vs. Dependent Day Care

  • Similarities:

    • Minimum $130 election per year

    • Maximum $5,000 election per year

  • Differences:

    • Medical funds available when needed

    • Dependent Day Care pays upon receipt of eligible expense

    • Use card for medical expenses


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Flex$ Administration

  • PEHP handles the claims processing and reimbursement for Flex$

  • Card will be issued (MasterCard)

  • Claims are processed within 1-4 days

  • You can be reimbursed through direct deposit or check in the mail

  • Toll free fax number is available to get claims submitted quickly

  • Balances can be seen at www.pehp.org or www.mbicard.com


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Transactions and Balances

Click to create an account



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Transactions and Balances

Last 6 numbers on insurance card

1741000XXXXXX


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Contact Numbers and Reminders

  • PEHP Flex$ Department

    • 801-366-7503

    • Toll Free 800-753-7703

    • Fax 801-366-7772

    • Toll Free Fax 800-759-8772

    • SAVE ALL ITEMIZED RECEIPTS!!!

    • Use card for doctor’s offices, hospitals, and pharmacies only

    • Track balances or print forms by visiting www.pehp.org


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Questions?!?!?

Thank You!


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