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Health Flexible Spending Account (FSA)

Health Flexible Spending Account (FSA). Sample comprised of 453 randomly selected HR professionals. Analyzing 453 of 2985 emails sent, 2728 emails were received (response rate = 17%). Survey fielded February 14 – February 20, 2006; presentation generated on February 21, 2006.

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Health Flexible Spending Account (FSA)

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  1. Health Flexible Spending Account (FSA) • Sample comprised of 453 randomly selected HR professionals. • Analyzing 453 of 2985 emails sent, 2728 emails were received (response rate = 17%). • Survey fielded February 14 – February 20, 2006; presentation generated on February 21, 2006. • Margin of error is +/- 4.0%.

  2. Does your organization currently offer a health flexible spending account (FSA)?

  3. Does your organization currently offer a health flexible spending account (FSA)?

  4. What percentage of your eligible employee population participates in the health FSA option? Excludes ‘Don’t know’ (22%) responses

  5. What percentage of your eligible employee population participates in the health FSA option? Excludes ‘Don’t know’ (22%) responses

  6. Does your organization allow employees to take advantage of the 2 ½ month grace period for spending health FSA funds as outlined by the Treasury Department in May of 2005? (check all that apply) NOTE: 4% of cases in the “Other” category were not sure their organization allow employees to take advantage of the grace period.

  7. Does your organization allow employees to take advantage of the 2 ½ month grace period for spending health FSA funds as outlined by the Treasury Department in May of 2005? (check all that apply) NOTE: 4% of cases in the “Other” category were not sure their organization allow employees to take advantage of the grace period.

  8. Other • Yes, but not until 2007 • Will incorporate in 2006-2007 plan year • We will implement this for 2007 plan year. • Incur the additional fee • This is our first year we want to see how it goes before implementing this. • The decision hasn't been made yet • The "Use-it-or-lose-it" aspect is still a deterrent to many employees. • Our PEO organization is not allowing our employees to take advantage of this. We do not know the reason. • Our employees plan well and use up their flex dollars by early December • Our employees don't even pull out enough to have any left over at the end of December. • Not for 2005, one month grace period for 2006 • No. The rule is too new. Our 3rd party administrator does not recommend participating at this time. • No, we're waiting until all rules are finalized and legal issues settled. • No, it has not been presented to employees as an option • No, due to additional cost from TPA to add grace period • Its being reviewed prior to deciding to use them • For 2005 NO, for 2006 and going forward YES • EE confusion about deadlines of overlapping plan years • According to our broker, we would need to eliminate the grace period if we ever wanted to implement a calendar-year HSA. NOTE: 4% of cases in the “Other” category were not sure their organization allow employees to take advantage of the grace period.

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