Flexible spending account
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Flexible Spending Account. University of Dayton Open Enrollment. What is a Flexible Spending Account?. A Flexible Spending Account is an IRS regulated pre-tax benefit. Also known as a Section 125 Plan Cafeteria Plan FSA. 3 Reasons why you Should Participate…. Money, money, money!

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Flexible Spending Account

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Flexible spending account

Flexible Spending Account

University of Dayton Open Enrollment


What is a flexible spending account

What is a Flexible Spending Account?

  • A Flexible Spending Account is an IRS regulated pre-tax benefit.

    • Also known as a

      • Section 125 Plan

      • Cafeteria Plan

      • FSA


3 reasons why you should participate

3 Reasons why you Should Participate…

  • Money, money, money!

    • Pay less in taxes

    • Increase your spendable income

    • Save 25-40%

  • So where does the tax savings come from?

    • Federal and State Income Taxes


Paycheck illustration

Paycheck Illustration


University of dayton

University of Dayton

  • Plan Year: January 1 – December 31

  • Details:

    • Grace Period for Medical (No OTC after 12/31/2010)

    • Run-Out Period: 32 days after Grace

    • Direct Deposit Available

  • FSA Benefit Limitations:

    • Medical: $5,000/year

    • Limited Medical:$5,000/year

    • Dependent Care: $5,000/year (If single or married filing jointly) or $2,500/year (If filing separately)


Planning your participation

Planning Your Participation

  • Your Election

    • Election – No Changes Unless

    • Change of status

  • Don’t lose anything… plan ahead!

    • Use Worksheets

    • Plan Conservatively

    • 24-hour Account Access

    • Reminder Letters


  • What are eligible expenses

    What are eligible expenses?

    • STILL WORTH NOTING!

      • As of January 1, 2011, if you have an FSA, HRA or HSA, you are no longer permitted to use your account funds to purchase OTC drugs and medicines (e.g. Advil, ibuprofen, cough syrup) unless you have a Note of Medical Necessity (NMN) or a prescription from your doctor.

    • Eligible expenses include…

      • Co-pays and prescriptions

      • Eye exams, contacts, contact lens solution, prescription sunglasses, laser eye surgery …and MUCH more!


    The reimbursement process

    The Reimbursement Process

    • Submit Eligible Claims Through:

      • Online

      • Email

      • Fax

      • Regular mail

  • Include Documentation

    • Per IRS regulations, all documentation must include:

      • Signed and Dated Claim Form

      • Patient and Provider Names

      • Date, Cost and Description of Service


  • Www mycafeteriaplan com

    www.myCafeteriaPlan.com


    Employee account homepage

    Employee Account Homepage


    Online claim entry

    Online Claim Entry


    Online claim entry1

    Online Claim Entry


    Claim detail

    Claim Detail


    How do i sign up

    How do I sign up?

    • Complete Your Enrollment Form

    • Submit Your Form to HR Staff

    • Look Forward to a Great Benefit


    Thank you

    Thank You!

    BusinessPlans, Inc. - myCafeteriaPlan

    432 East Pearl Street

    Miamisburg, OH 45342

    Phone: (937) 865-6500

    Toll-Free: (800) 865-6543

    Email: [email protected]


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