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Flexible Spending Accounts (FSAs) PowerPoint PPT Presentation


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Flexible Spending Accounts (FSAs). Flexible Spending Accounts. 3 Types of Accounts Dependent Care Medical Limited Medical. Flexible Spending Accounts. Common features: All accounts administered by Aetna Minimum/maximum annual contributions: $60 minimum $5,000 maximum.

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Flexible Spending Accounts (FSAs)

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Flexible spending accounts fsas

Flexible Spending Accounts (FSAs)


Flexible spending accounts

Flexible Spending Accounts

3 Types of Accounts

Dependent Care

Medical

Limited Medical


Flexible spending accounts1

Flexible Spending Accounts

Common features:

All accounts administered by Aetna

Minimum/maximum annual contributions:

  • $60 minimum

  • $5,000 maximum


Flexible spending accounts2

Flexible Spending Accounts

Before-tax deductions

Must comply with IRS regulations

Each account separate election

No transfers between accounts

Changes during year limited to qualifiying events

Use it or lose it

Annual enrollment required


Fsa dependent care

FSA-Dependent Care

Care for:

  • children under 13

  • disabled child of any age

  • disabled spouse

    While you and spouse work/attend school

    Not occasional babysitter


Fsa dependent care1

FSA-Dependent Care

Care provided in

  • Your home

  • Caregiver’s home

  • Care center


Fsa dependent care2

FSA – Dependent Care

How do you get paid?

Must submit claim for each period of care claiming

$96.15/weekCan only be reimbursed what have contributed

Maximum claim amount:

  • $416.66/month


Fsa medical

FSA–Medical

IRS eligible expenses:

  • Medical

  • Dental

  • Vision

    For:

  • You

  • Your spouse

  • Your eligible dependent children

  • Do not have to be enrolled in NKU plans


Fsa medical1

FSA–Medical

How do you get paid?

Can be paid for more than contributed

Up to annual enrolled amount

Debit Card

  • Swipe for copayments under NKU plans if enrolled

  • No additional documentation needed

    File claims

  • All other types of expenses (deductibles, coinsurance, etc.) must file claim

  • Provide Explanation of Benefits from insurance


Fsa medical2

FSA–Medical

How do you get paid?

  • Direct deposit

    • Reduces time to receive payment

    • Sign up at www.Aetna.com

  • Streamline dental claims

    • Eliminates FSA claim filing for dental

    • Reduces time to receive payment

    • Sign up at www.Aenta.com


Fsa limited health

FSA–Limited Health

If enrolled in HDHP

IRS eligible expenses only for:

  • Dental

  • Vision

    For:

  • You

  • Your spouse

  • Your eligible dependent children

  • Do not have to be enrolled in NKU plans


Fsa limited health1

FSA–Limited Health

How do you get paid?

Can be paid for more than contributed

Up to annual enrolled amount

No Debit Card

Must file claims

  • Provide Explanation of Benefits from insurance


Fsa limited health2

FSA–Limited Health

How do you get paid?

  • Direct deposit

    • Reduces time to receive payment

    • Sign up at www.Aetna.com

  • Streamline dental claims

    • Eliminates FSA claim filing for dental

    • Reduces time to receive payment

    • Sign up at www.Aenta.com


Fsas aetna

FSAs-Aetna

  • www.Aetna.com

  • Sign up for My Navigator

  • Fax claim

  • Receive email notification of claim receipt

  • Receive email notification when claim paid

  • Can opt out of paper Explanation of Benefits


Fsas aetna1

FSAs-Aetna


Fsas aetna2

FSAs-Aetna


Fsas aetna3

FSAs-Aetna


Fsas aetna4

FSAs-Aetna


Fsas aetna5

FSAs-Aetna


Fsas aetna6

FSAs-Aetna


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