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We are using audio during this session, so please dial in to our conference line… Phone number: 877-468-2134 Participant code: 182500 . FastFacts Feature Presentation. February 17 th , 2009. Today’s Topic. We’ll be taking a look at… Flexible Spending Account (FSA) Update.

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Fastfacts feature presentation

FastFactsFeature Presentation

February 17th, 2009


Fastfacts feature presentation

Today’s Topic our conference line…

  • We’ll be taking a look at…

  • Flexible Spending Account (FSA) Update


Fastfacts feature presentation

Today’s Presenter our conference line…

  • Michael McCormickBenefits Consultant/Trainer


Fastfacts feature presentation

Session Segments our conference line…

  • Presentation

    • Michael will address support staff, pre-retirement.

    • During Michael’s presentation, your phone will be muted.

  • Q&A

    • After the presentation, we’ll hold a Q&A session.

    • We’ll open up the phone lines, and you’ll be able to ask questions.

    • Michael will answer as many of your questions as time allows.


Fastfacts feature presentation

Contact Us our conference line…

  • If you would like to submit a question during the presentation or if you’re having technical difficulties, you can email us at: fastfacts@jhu.edu

  • You can also send us an instant message!

    • GoogleTalk – HopkinsFastFacts@gmail.com

    • AOL Instant Messenger – HopkinsFastFacts

    • MSN – FastFacts@jhu.edu


Fastfacts feature presentation

Survey our conference line…

  • Survey

    • At the end of this FastFacts session, we’ll ask you to complete a short survey.

    • Your honest comments will help us to enhance and improve future FastFacts sessions.


Fastfacts feature presentation

FSA Update our conference line…


Fastfacts feature presentation

Flexible Spending Accounts our conference line…

Agenda:

  • What is a Flexible Spending Account (FSA)?

  • What are eligible expenses?

  • How do I get reimbursed?


Flexible spending accounts
Flexible Spending Accounts our conference line…

  • Administered by WageWorks

  • Tax-free dollars are used to pay for certain medical and dependent care expenses

    • Health Care FSA (Medical/Dental) - $5,000/yr.

    • Dependent Care FSA - $5,000/yr. (family limit)

  • “Use It…or…Lose It”


Eligible expenses
Eligible Expenses our conference line…

  • Health Care FSA

    • Deductibles, copays, coinsurance, glasses/contacts, over-the-counter medications, etc.

  • Dependent Care FSA

    • Daycare, before and after care, summer day camp, sitter for elderly parent.

  • Complete list at www.wageworks.com


Reimbursement
Reimbursement our conference line…

  • Reimbursement card

  • Pay My Provider

  • Submit claim forms


Pay my provider
Pay My Provider our conference line…

  • Once your WageWorks account has been established, you may access your account online and elect to cut a check from your account using this feature.

  • Proof of the expense will be required.


Submitting claims
Submitting Claims our conference line…

  • Use the WageWorks forms to submit claims for health care and dependent care.

  • Fax along with the proof of expense.

  • WageWorks will send a check or you may elect direct deposit of your reimbursement.


Reimbursement card
Reimbursement Card our conference line…

  • Participants in the HC FSA receive a WageWorks reimbursement card (or their 2009 elected amount is loaded onto their existing card).

  • Designed to function as a debit card drawing from your FSA account.

  • IRS rules govern the use of the cards.


Using the fsa card
Using the FSA Card our conference line…

  • Why use the card?

    • Eliminates need to pay out of pocket at the time of purchase.

      • Does not eliminate the need to substantiate claims. SAVE ALL RECIEPTS and be prepared to submit them.

    • If you do not provide requested info, your card will be deactivated until expenses are substantiated.


Where can the card be used
Where can the card be used? our conference line…

  • At merchants that have a valid merchant category code such as pharmacies, doctor offices.

  • A list of the certified merchants can be found at www.sig-is.org

    • Under Publications, click on IIAS Merchant List


For your information
For Your Information… our conference line…

  • If the merchant/provider has no code, the card will be denied at point of sale/service.

  • You will need to pay for the expenses and submit a Pay Me Back Claim Form for reimbursement.


Fsa reimbursement
FSA Reimbursement our conference line…

  • When activating your reimbursement card online, update your email address in the contact information box since all WageWorks communication to participants is by email.

  • If you would prefer to receive paper statements, you can elect to do so at any time by logging in, selecting the FSA, then choosing View Account Statement.


Flexible spending accounts1
Flexible Spending Accounts our conference line…

Conclusion

Today we covered…

  • Use for eligible expenses; medical, dental and daycare

  • Save all receipts / proof of purchase

  • Contact WageWorks first for any issues

    • 1-877-924-3967


Benefits service center
Benefits Service Center our conference line…

  • Mon – Fri 8:30 to 5:00

  • 410-516-2000

  • Fax 443-997-5820

  • 1101 E 33rd St, Suite D100, Baltimore, MD 21218

    benefits@jhu.edu


Fastfacts feature presentation

Thank you! our conference line…


Fastfacts feature presentation

Q&A our conference line…

  • We’re going to open the phone lines now!

  • There will be a slight pause, and then a recorded voice will provide instructions on how to ask questions over this conference call line.

  • We’ll be answering questions in the order that we receive them.

  • We’ll also be answering the questions that were emailed to us during the presentation.

  • If there’s a question that we can’t answer, we’ll do some research after this session, and then email the answer to all participants.


Fastfacts feature presentation

Thank You! our conference line…

  • Thank you for participating!

  • We would love to hear from you.

    • Are there certain topics that you would like us to cover in future FastFacts sessions?

    • Would you like to be a FastFacts presenter?

    • Please email us at: fastfacts@jhu.edu


Fastfacts feature presentation

Survey our conference line…

  • Before we close, please take the time to complete a short survey.

  • Your feedback will help us as we plan future FastFacts sessions.

  • Click this link to access the survey… http://connect.johnshopkins.edu/fastfactssurvey/

  • Thanks again!