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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

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
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